JUDICIARY
P&ID: Presidency Lauds Judgment on $10billion Debt
By Mathew Dadiya, Abuja
The Presidency Friday, expressed satisfaction with the judgment by the UK Court granting Nigeria’s application for an extension of time and relief from sanctions in a $10 billion arbitration case with Process and Industrial Development Limited (P&ID) in Nigeria.
On January 31, 2017, a tribunal had ruled that Nigeria should pay P&ID $6.
6 billion as damages, as well as pre- and post-judgment interest at 7 percent, bringing the current outstanding amount estimated at $10 billion.Reacting to the Thursday’s judgment, the Presidency in a statement by the Senior Special Assistant to the Presdent on Media and Publicity, Garba Shehu stated that, ”in our view, the judgment is right, just and provides a strong prima facie case that the fraudulent gas deal with P&ID and the subsequent judgment debt of $10 billion against Nigeria was a clear attempt to cheat the country of billions of dollars by a company that had not invested one Naira in our country.
”It said that on the arbitration award, ”it is a source of huge satisfaction that the UK Court, among others, had ruled that:
‘‘Nigeria has established a strong prima facie case that the Gas Supply and Processing (GSPA) was procured by bribes paid to insiders as part of a larger scheme to defraud Nigeria.
‘‘There is also a strong prima facie case that (P&ID) main witness in the arbitration, Mr Quinn, gave a perjured evidence to the Tribunal, and that contrary to that evidence, P&ID was not in the position to perform the contract.’’
The Presidency expressed delight with the processes that led to this outcome in the English Court, noting that it has given relief to the Nigerian government to further protect the nation’s assets from ”criminally-minded organisations and individuals.”
The views of the UK court thus provided sufficient grounds for the Federal Government to go ahead and challenge the frauds perpetrated by the company and overturn the arbitration award.
“President Muhammadu Buhari therefore, commends the team of lawyers who represented Nigeria in the matter with P&ID and reassures all well-meaning Nigerians and the international community of his unwavering commitment to fight corruption in all its forms and manifestation,” the statement said.
Thursday’s ruling was a landmark victory for Africa’s leading oil producer in its pursuit to overturn a $10 billion judgement awarded against it in a case against Process and Industrial Developments (P&ID).
Delivering his judgement on Thursday, Ross Cranston, a judge of the Business and Property Courts of England and Wales, granted Nigeria’s application for an extension of time and relief from sanctions.
An Ota Magistrates ‘Court in Ogun, on Monday, sentenced a 24-year-old Point of Sales (POS) attendant, Yusuf Olamilekan, to 18 months imprisonment for stealing N1 million belonging to his employer.
In her judgement, the Magistrate, Mrs O.O. Fadairo, sentenced the convict to 18 months imprisonment with an option of fine of N60, 000.
Fadairo said that the convict should also restitute N1 million to the complainant, Emeka and Jane Company.
She added that the Prosecution Counsel had proven beyond reasonable doubt that the convict was guilty of the charge preferred against him.
Olamilekan, whose address was not provided, had earlier pleaded not guilty to the charge of stealing.
The Prosecutor, Insp E.O. Adaraloye, told the court that the defendant committed the offence on April 7, at 6 p.m., at Sango-Ota.
Adaraloye said that the defendant unlawfully withdrew N1 million from his employer’s account, Emeka and Jane Company, without consent, to play a game of chance.
He said that the now convict subsequently lost the money, adding that the offence contravened Section 383 of the Criminal Code, Laws of Ogun, 2006. (NAN)(www.nannews.ng)
IGE/DCO
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Edited by Deborah Coker
An Ota Magistrates ‘Court in Ogun, on Monday, sentenced a 24-year-old Point of Sales (POS) attendant, Yusuf Olamilekan, to 18 months imprisonment for stealing N1 million belonging to his employer.
In her judgement, the Magistrate, Mrs O.O. Fadairo, sentenced the convict to 18 months imprisonment with an option of fine of N60, 000.
Fadairo said that the convict should also restitute N1 million to the complainant, Emeka and Jane Company.
She added that the Prosecution Counsel had proven beyond reasonable doubt that the convict was guilty of the charge preferred against him.
Olamilekan, whose address was not provided, had earlier pleaded not guilty to the charge of stealing.
The Prosecutor, Insp E.O. Adaraloye, told the court that the defendant committed the offence on April 7, at 6 p.m., at Sango-Ota.
Adaraloye said that the defendant unlawfully withdrew N1 million from his employer’s account, Emeka and Jane Company, without consent, to play a game of chance.
He said that the now convict subsequently lost the money, adding that the offence contravened Section 383 of the Criminal Code, Laws of Ogun, 2006. (NAN)
A 42-year-old woman, Bukola Solademi, was on Friday arraigned before a Mapo Grade A Customary Court in Ibadan over alleged theft of carbonated drinks and bottled water valued at N7.688 million.
Solademi, however, pleaded not guilty to the one-count charge levelled against her.
The court’s President, Mrs O.
E. Owoseni, admitted the defendant to bail in the sum of N500,000, with two reliable sureties in like sum.Owoseni said that the sureties must be blood relatives, show evidence of three years tax payment to Oyo State government, present their National Identification Numbers and show evidence of ownership of landed property in Ibadan.
She, thereafter, adjourned the matter till July 4 for hearing.
The Prosecutor, Insp Ayodele Ayeni, had earlier told the court that the defendant committed the offence between March 2024 and April 2025 at Ibikunle, Ayeye area of Ibadan.
Ayeni further said that Solademi stole 12 packs of Bigi water valued at N14,750, 31; packs of big Eva water valued at N309,400, 176 and packs of Mr V water valued at N264,400.
He said that the defendant also stole 405 packs of Predator valued at N1.903,400 and 14 packs of Schewepps valued at N57,600.
The prosecutor listed other items allegedly stolen by the defendant to include: 244 packs of pet coke valued at N882,300; 20 packs of big American cola valued at N128,00012 and packs of Bigi Cola valued at N240,000.
The remaining items were one carton of Lacasera valued at N1,850,240,000; 34 cartons of Pepsi valued at N104,100; 100 cartons of Coca-cola valued at N520,000 and 243 cartons of Fearless valued at N992,300.
The other stolen drinks were: 75 cartons of Bigi Fanta valued at N240,000, 14 packs of Sosa drink valued at N4,000 and 395 packs of Bigi American cola valued at N1.422 million.
Ayeni said that the drinks belonged to one Ajoke Ayinde, a businesswoman.
According to him, the offence contravenes the provisions of section 390(9) of the Criminal Code, Cap. 38, Vol. II, Laws of Oyo State, 2000. (NAN)
Three men, Wasiu Ayanyemi, Ibtahim Adeniji and Oluwabunmi Owoyemi, were on Wednesday docked in an Ikorodu Chief Magistrates’ Court, Lagos, for allegedly assaulting woman and causing her to miscarry.
The police charged Ayanyemi, 40; Adeniji, 49, and Owoyemi, 40, whose addresses were not disclosed with conspiracy to wit felony, breach of peace, and assault occasionally harm.
The three defendants pleaded not guilty to the charge.
The Prosecutor, ASP Aminu Isaac, said the offence were committed on May 8, at Benson bus-stop area of Ikorodu, Lagos State.
Isaac said the defendants assaulted a three-month pregnanr woman, Ms Adejoke Olusoj, causing her bodily harm and miscarriage
The prosecutor said the defendants also conducted themselves in a manner likely to cause breach of peace
He added the offence contravened the provisions of sections 411, 168(d), 173 and 245 of the Lagos State Criminal Law, 2015.
The Chief Magistrate, Mr B. A. Sonuga, admitted the defendants to bail in the sum of N500,000 each, with two sureties in like sum.
Sonuga adjourned the case until June 16 for further mention. (NAN)
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