NewsReports

Human rights lawyer, Femi Falana, SAN has said that the conviction of P&ID over allegation of money laundering and tax evasion by the Federal High Court, Abuja and the order for forfeiture of its assets in Virgin island and Nigeria, will substantially help Nigeria wriggle out the $N9.6billion London court judgment. The Federal High Court sitting in Abuja had in …

Former Provost of the College of Education, Igueben, in Edo State, has testified before the Commission of Inquiry set up to probe the activities of Colleges of Education, Ekiadolor and Igueben; Michael Imoudu College of Physical Education, Afuze; the College of Agriculture, Iguoriakhi and the College of Agriculture, Agenebode. The commission of Inquiry was set up by Edo State Governor, …

The contract for gas supply and processing (GSPA) was signed by the administration of late President Umaru Yar’Adua and P&ID. The company was to build gas processing facilities around Calabar, Cross River State, and the government was to supply wet gas up to 400 million standard cubic feet per day. The agreement defined wet gas as “associated gas removed, during …

Edo State Governor, Mr. Godwin Obaseki, has nominated Benjamin Iyase as commissioner in the state and has forwarded his name to the Edo State House of Assembly for confirmation. The governor has also appointed Dr. Ikponmwosa Omorodion as his Special Adviser on Technical Education. Speaker of the Edo State House of Assembly, Rt. Hon. Frank Okiye, and members of the …

The Federal High Court in Abuja on Thursday convicted  and subsequently ordered the winding up of Process and Industrial Development Limited and its Nigerian affiliate, P&ID Nigeria Limited, for charges of fraud and tax evasion in respect of the contract leading to the recent controversial judgment of a British court empowering the firm to seize about $9.6bn worth of Nigerian …

Two representatives of the Process and Industrial Development Ltd on Thursday pleaded guilty before the Federal High Court in Abuja to charges of fraud and tax evasion instituted against them in respect of the contract leading to the recent controversial judgment of a British court empowering the firm to seize about $9.6bn worth of Nigerian assets. The Economic and Financial …

The anti-graft agency, EFCC, will today charge suspects involved in the P&ID contract negotiations to court. The suspects are to be charged at the Federal High Court in Abuja, an official told PREMIUM TIMES, without naming the suspects. The two suspects to be charged are P&ID’s parent company in the British Virgin Island ( Process and Industrial Development Ltd) and the …

Average price of petroleum products across the 36 states of the federation have recorded some increases in the month of August, 2019, the Nigerian Bureau of Statistic, NBS, has said. The agency, in its latest report on the prices of petroleum products, stated that average price per litre paid by consumers for household kerosene increased 10.80 percent year-on-year, YoY, to …

The Speaker of the House of Representatives Hon. Femi Gbajabiamila has said that the House would ensure that Nigerians get adequate supply for the electricity they pay for. The Speaker said the House would give adequate attention to the practice of estimated billing by electricity distribution companies (Discos) to address the challenges Nigerians face. According to him,  “the House would …

EFCC submitted report on Tuesday President Muhammadu Buhari last night (Wednesday) removed the embattled Head of Serive of the Federation, Winifred Oyo-Ita, from office and named Dr Folashade Yemi-Esan, as her replacement as the Head of Service of the Federation. Although Buhari named Yemi-Esan as Acting Head of Service of the Federation, it was learnt that the  removal of Oyo-Ita, who had …