A bonafide son of Ganye Chiefdom and former Attorney General of Adamawa State, who is the EFCC lead counsel, Barr. Bala Silas Sanga won the case against P&ID $11.5bn fraud case for Nigeria in London.
The EFCC, represented by Bala Sanga, contested payments made in 2017 and 2018 from an account at Allied Irish Banks, claiming they were designated for ‘medical costs.’
Upon presenting this pivotal evidence, deemed ‘groundbreaking’ by the EFCC, Nigeria pursued fraud charges against P&ID. However, the company remained unresponsive to the allegations. Ongoing trials of key suspects linked to the alleged fraud are being conducted across various levels of court in Abuja.
Sanga, while representing the EFCC in court, emphasized, ‘It’s increasingly evident that this was a meticulously orchestrated deception.’ The Commission further highlighted that P&ID’s legal team failed to substantiate the legitimacy and lawfulness of a 20-year contract valued in hundreds of millions of Naira.
‘The company has yet to demonstrate their qualifications for such a complex undertaking, let alone provide evidence of tangible investments or land ownership. The awarded sum, exceeding Nigeria’s national health budget by over eightfold, could address more pressing and genuine public concerns at present,’ it asserted.
The EFCC additionally contended, ‘Nigeria lacks the means to settle the judgment debt. Had Nigeria lost the appeal, international assets, including oil cargoes and P&ID, were slated for seizure.’ However, following Monday’s verdict, Nigerian assets are secure both domestically and abroad.
President Bola Ahmed Tinubu and the Economic and Financial Crimes Commission (EFCC) have hailed the momentous judgment delivered on Monday by Judge Robin Knowles of the Business and Property Court in London. The judgment marks a significant triumph for the Federal Government of Nigeria in its dispute with Process & Industrial Development (P&ID) Limited.
Judge Knowles’ decision to dismiss the $11.5 billion (USD) award, coupled with accrued interest, previously granted to P&ID for a failed 2010 gas processing plant venture, on the grounds of fraud, has garnered praise from President Tinubu. He lauds the UK Court for giving precedence to the merits of the case over other considerations.
“This historic verdict unequivocally demonstrates that sovereign nations will no longer be held captive by dubious collaborations between private enterprises and morally bankrupt officials seeking to extort and burden the very nations they pledge to serve and safeguard.
“Today’s triumph is not exclusive to Nigeria; it resonates as a victory for our long-oppressed continent and the wider developing world, which has endured far too long under the weight of unjust economic misconduct and blatant exploitation.
“Nigeria extends its gratitude to the formidable defense team and acknowledges the pivotal role played by the Federal Ministry of Justice and the Office of the Attorney-General in safeguarding Nigeria’s interests in this matter,” affirmed the President.”
