$9.6bn fraud: EFCC provides more evidence against P&ID director

The Economic and Financial Crimes Commission (EFCC) on Monday, provided additional evidence against MICAD Project City Services Limited, and James Nolan, a Director of Process and Industrial Development Limited (P&ID) before Justice Nora Egwuatu of the Federal High Court, sitting in Abuja.

Dele Oyewale, Head, Media and Publicity of the EFCC who disclosed this in a statement, said the criminal case stemmed from controversial Gas Supply Processing Agreement between Process and Industrial Development and the Federal Government of Nigeria.

P&ID had obtained a $11bn award against the Federal Government over the botched contract.

However, reprieve came the way of the country last October when a London arbitration court set aside the $11bn award, holding that the contract was fraudulently secured.

MICAD Project City Services Limited and James Nolan facing 20 counts bordering on “obtaining by false pretense, money laundering and criminal conversion of proceeds of crime, to the tune N151,394,328.00.”

In February, the International Criminal Police Organisation said it had arrested Nolan, in Italy after he jumped bail in Nigeria 2022, in the ongoing $9.6bn P&ID scandal.

At Monday’s court session, the prosecution counsel, Bala Sanga, informed the court that the EFCC had filed additional evidence before the court on February 20, 2024, and the defence counsel, Micheal Ajara, confirmed that they had been served the evidence.

Sanga then presented the third prosecution witness, Nnedimma Eyisi, a lawyer, who narrated to the court how James Nolan informed her that he needed to renew himself as the Director of MICAD.