The Federal High Court in Abuja on Thursday, September 19 ordered the the forfeiture of assets belonging to the Process and Industrial Development Limited (P&ID) to Nigerian government for fraud and tax evasion.
Justice Inyang Ekwo gave the order after two agents of P&ID Limited incorporated (British Virgin Island) and Process and Industrial Development Limited pleaded guilty to charges of fraud and tax evasion brought against them by the Economic and Financial Crimes Commission.
Commercial Director, Mohammad Kuchazi, of P&ID Limited incorporated (British Virgin Island) and Adamu Usman of P&ID Nigeria Limited both pleaded guilty to 11 counts charges on behalf of the companies.
Kuchazi was represented by his lawyer, Dandison Akurunwua.
In delivering his judgement, Justice Inyang Ekwo “That the assets of the first convict are forfeited to the federal government of Nigeria. An order is therefore made for the second convict to forfeit its assets to the federal government of Nigeria”.
Among the 11 count charges they were accused of was, fraudulently claiming to have acquired land from the Cross River State Government in 2010 for the gas supply project agreement which led to the $9.6bn judgment.