PeacePro call on FG to prosecute all those involved in $11b P&ID fraud conspiracy …says every penny spent on ligation must be recovered from economic saboteurs

A peacebuilding think tank, Foundation for Peace Professionals also known as PeacePro has called on the Federal Government of Nigeria to prosecute all those involved in the conspiracy to defraud Nigeria by Process & Industrial Developments, P&ID, Limited.

PeacePro said that, the attempt to defraud Nigeria by P&ID to the tune of $11 billion is not an isolated case, as several of such cases exists, some of which maybe ongoing and others concluded, noting that those involved in the scam are a cartel that must be exposed and severely punished.

In a statement by the Executive Director of PeacePro, Amb Abdulrazaq Hamzat over the weekend, PeacePro said that Commercial Courts of England and Wales saved Nigeria from what could literally be described as catastrophe of the greatest order and we must do everything possible to ensure the country is never put at the mercy of foreign government to address crisis of such magnitude.

According to Hamzat, after a long, tortuous legal battle, Nigeria narrowly escape from a hefty penalty of over $11billion over a fraudulent failed 2010 deal to develop a gas processing plant in the country.

Justice Robin Knowles of the Commercial Courts of England and Wales halted enforcement of a $11 billion Process & Industrial Developments, P&ID, Limited arbitration award against Nigeria, which has been described as scam.

According to the judge, the company’s award against Nigeria was obtained by fraud.

Hamzat explained that, Nigeria may have succeeded in upturning the fine, which is about 30% of our national budget, but that is after spending over $40 million in litigation fees and the federal government must treat all those involved as economic saboteurs.

Hamzat maintained that, those involved are scattered amongst the senior civil and public servants, with support of some private players and President Tinubu and the National Assembly must address the situation like a national emergency.

He concluded that all business deals involving govt, either concluded or currently disputed should be reviewed to identify pattern of fraud and the respective players.

A peacebuilding think tank, Foundation for Peace Professionals also known as PeacePro has announced the completion of maiden Africa Peace Insight report, which is set to be presented next week.

PeacePro also said that the public presentation of the report is to be done on 13th October, 2023 on the International Day of Risk and Disaster Reduction via Twitter public space and eminent peace personalities within and outside Africa are expected to join the conversation. 

In a statement by the Executive Director, Mr Abdulrazaq Hamzat, PeacePro said that Africa Peace Insight report was done in partnership with Institute of Economics and Peace, IEP, which is the producer of Global Peace Index and the presentation will be done on twitter space.

Africa Peace Insight (API) report gave the continental outlook of peace in Africa, present regional ranking of peacefulness across the sub-region and gave spotlight analysis of ongoing crisis.

API also set new agenda for the continental body, Africa Union to end neo-colonialism and call for an end to balcarnization of Africa through elimination of Middle East and North Africa, MENA, coinage in many global reports.

Hamzat explained that, Africa Peace Insight is to expand the conversation around the Global Peace Index at the continental level, so as to put peacebuilding as the cornerstone of development in the continent.

He further concluded that the report will put peacebuilding at the centre of policy and security decisions, which automatically reduces the tendency for elevating crisis management.


-November 05, 2023 @ 17:30 GMT |