BREAKING: Court Orders Closure Of P&ID Operations, Assets Forfeiture
A photo of lawyers at the Federal High Court in Abuja shortly before proceedings on September 19, 2019.The Federal High Court in Abuja has ordered the closure of operations of Process and Industrial Development Limited and P&ID Nigeria Limited .
“An order is hereby made for the second convict to be wound up and its assets forfeited to the Federal Government,” Justice Ekwo said. They pleaded guilty to intent to defraud by obtaining property from the Cross River State government, and a second count of obtaining land from the state government with the intent to defraud, as well as ‘count three’ for conspiring with certain individuals to commit a felony by dealing with petroleum product without the appropriate licence.
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