Court approves appointment of liquidator for P&ID Nigeria
A Federal High Court in Abuja has ratified the appointment of a liquidator for Process and Industrial Developments (P&ID) Nigeria.
The appointment by the Federal Government was through the Economic and Financial Crimes Commission (EFCC).
The liquidator is to trace and secure all assets and property of the P&ID Nigeria, which the court earlier ordered to be forfeited to the Nigerian government on September 19, 2019.
Justice Inyang Ekwo gave the ex-parte ruling on Friday after listening to the government’s lawyer, Bala Sanga.
The liquidator is Messrs Christie Makar of Lexfield Chambers of 7 Dunukofia Street, Dulux Paint building, Area 11, Abuja.
P&ID UK and the Nigerian arm were, among others, accused of fraudulently claiming to have acquired land from the Cross River State Government in 2010 for the Gas Supply Project Agreement (GSPA).
They were represented at the arraignment by Mohammad Kuchazi, described as Commercial Director, P&ID Ltd, Virgin Island, and Adamu Usman, identified as representative of P&ID Nigeria Limited. They pleaded guilty.
Usman, a lawyer represented himself, while Kuchazi was represented by a lawyer, Dandison Akurunwua.
An arbitration tribunal in London had awarded damages estimated at about $9.6billion against Nigeria.
The country won its appeal and has ruled out negotiation.