Hope rises for Nigeria as P&ID directors are convicted for ‘economic sabotage'

Two directors of the Process and Industrial Development Limited (P&ID), an Irish engineering company, have been convicted of charges bordering on economic sabotage and money laundering.

They had pleaded guilty to the charges levelled against them by the federal government.

Muhammad Kuchazi, commercial director of P&ID, British Virgin Islands, and Adamu Usman, a director of the firm in Nigeria, pleaded guilty to 11 counts of economic sabotage and money laundering at a federal high court in Abuja on Thursday.

The suit was filed following a $9 billion judgement awarded against Nigeria by a British court in favour of P&ID in August.

The company claimed it entered a contract to build a gas processing plant in Calabar, Cross River state, with the Nigerian government, but that the deal collapsed because the government did not fulfil its own end of the bargain.

It then sued Nigeria at the British court, and secured judgement in its favour.

Umar Babangida, an official of the Economic and Financial Crimes Commission (EFCC), testified against the accused in what is one of the swiftest trials so far.