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$9.6billion debt: We’ll continue identify, seize Nigerian assets – P&ID

Process and Industrial Developments Limited and its Nigerian affiliate, P&ID Nigeria Limited

said in a statement on Thursday that it would continue to identify and seize Nigerian assets.

The company said the President Muhammadu Buhari administration had shown that it was not willing to negotiate in good faith in order to find “a reasonable resolution to the debt.”

“As a result, P&ID will continue its efforts to identify and seize Nigerian assets to satisfy the debt as soon as possible,” it added.

The P&ID accused the Nigerian government of carrying out a targeted campaign of unlawful and illegal detentions aimed at innocent individuals associated with the company.
Andrew Stafford Q.C. of Kobre & Kim, which represents the P&ID, said, “The Nigerian government, through the Economic and Financial Crimes Commission, is carrying out a targeted campaign of detentions aimed at individuals associated with the P&ID and the US $9.6bn arbitration award the P&ID has won against Nigeria.

“The P&ID calls on the government of Nigeria to accept its responsibilities under the law, and to cease the unlawful detentions.”
In another statement, it described its trial and conviction by the Federal High Court in Abuja on Thursday as “sham and entirely illegitimate”.
The firm also said in a response to The PUNCH’s e-mail enquiry on Thursday that the two men who pleaded guilty on its behalf to the charges of fraud, tax evasion, money laundering and other sundry offences at the Abuja court were no longer its employees or representatives.

The PUNCH’s request for P&ID’s reaction to the Thursday’s proceedings was sent to Chris Rogers, an Assistant Director at the London-based public relations firm, iNHouse Communications, which has been receiving and responding to public enquiries about the P&ID in relation to the $9.6bn judgment given in favour of the company and against Nigeria by a British court in August this year.
The reply which quoted “a spokesperson for the P&ID”, accused the Nigeria’s Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, of provoking global opposition against it.

It read in part, “Today’s sham trial in Nigeria is entirely illegitimate, and follows a systematic campaign of harassment, intimidation and illegal detention of a number of individuals associated with P&ID or the GSPA contract.
“Nigeria’s Attorney General Abubakar Malami has publicly acknowledged that his aim is to provoke global opposition against P&ID, by undertaking this EFCC ‘investigation’.

“None of the individuals involved are current employees or representatives of P&ID. P&ID itself has received no communication from any Nigerian authority about the investigation or today’s hearing.
“There has been no evidence produced, no defence allowed, no charges laid, no due process followed.”


AmarSim Associations Development Consultants

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