Two agents of the controversial Irish engineering firm, Process and Industrial Development Limited , have admitted guilt in charges of fraud and tax evasion brought against them by the Federal Government.
Mohammad Kuchazi, described as Commercial Director, P&ID Ltd, Virgin Island and Adamu Usman, identified as representative of P&ID Nigeria Limited, pleaded guilty before the Federal High Court in Abuja on Thursday to an 11-count charge brought against the firms by the Economic and Financial Crimes Commission (EFCC).
The charge was directed at P&ID Limited (Virgin Island) and its affiliate in Nigeria, P&ID Nigeria Limited.
Kuchazi and Usman pleaded on behalf of both companies during the proceedings before Justice Inyang Ekwo.
They were, among others, accused of fraudulently claiming to have acquired land from the Cross River State Government in 2010 for the Gas Supply Project Agreement (GSPA), in relation to which an arbitration tribunal that sat in London awarded damages estimated at about $9.6billion against Nigeria.
The companies were accused of committing the offences in relation to the Gas Supply Project Agreement (GSPA) over which a British court recently granted the P&ID the permission to seize Nigeria’s assets in to secure the about $9.6billion judgment given in its favour.
While Usman, who is a lawyer, represented himself, Kuchazi was represented by a lawyer, Dandison Akurunwua.