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Magu: Probe of $9bn P&ID gas contract ongoing

Magu: Probe of $9bn P&ID gas contract ongoing
August 23
23:39 2019
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Ibrahim Magu, chairman of the Economic and Financial Crimes Commission (EFCC), says the agency has begun investigations into the Process and Industrial Development Limited (P&ID) gas processing deal.

A British court had given P&ID the go-ahead to seize Nigerian assets worth $9 billion because Nigeria did not meet its end of the bargain.

Speaking on Friday while hosting a delegation from the Nigerian Diaspora Commission led by its chairman, Abike Dabiri-Arewa, the EFCC chairman described the process leading to the judgment as “day light robbery”.

Magu vowed that the commission will forensically investigate the transaction and bring anyone one found wanting to justice.

On Thursday, Abubakar Malami, the minister of justice and attorney general of the federation, had said all the people involved in the approval of the gas processing deal with P&ID will be prosecuted.

“As a government that has the mandate of the people, and their interests at heart, we shall not fold our arms and allow this injustice to go unpunished as all efforts, actions and steps shall be taken to bring to book all private individuals, corporate entities and government officials – home or abroad and past or present – that played direct and indirect roles in the conception, negotiation, signing, formation as well as prosecution of the purported agreement,” the minister had said.

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