FG Raises Fresh Fraud Claims against P&ID Ahead $11bn Trial – Newstrends
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FG Raises Fresh Fraud Claims against P&ID Ahead $11bn Trial

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•Nigeria moves to prove firm secured contract through bribery, lies

Nigeria has levelled fresh claims of fraud against a little-known offshore firm, Process and Industrial Developments (P&ID), which earlier won an $11 billion arbitration award against the country, ramping up the pressure ahead of one of the biggest London trials to take place next year.

The federal government would seek to prove to the court that P&ID did not make full disclosure to the court in the first place in the course of the case.

As it attempts to show the court that the contract was corruptly procured, it would also urge the firm in the eye of the storm to answer the following questions:

“Did P&ID, or any individual or company associated with P&ID, make, procure to be made by any other person, or promise to make payments” to or on behalf of various Nigerian officials, including one Ms Taiga, Mr. Tijani, Mr Dikko, Mr. Rilwanu Lukman or Mr Ibrahim?

“Did P&ID collude with and/or communicate with and/or enter into a corrupt agreement with and/or make payments to Mr Shasore and/or any other person directly or indirectly involved in the FRN’s defence (including Ms Adelore and Mr Oguine), before, during or after the arbitration, with a view to influencing the conduct of the FRN’s defence in the arbitration?

“In what circumstances did the FRN engage Mr Shasore (and/or his firm) in respect of the arbitration? Did Mr Shasore conduct the arbitration in a manner contrary to Nigeria’s interests and/or instructions, and if so, why?”

“Did P&ID induce Ms Taiga or any other Nigerian official to depart from the terms of the FRN’s model arbitration clause in the Gas Sales and Purchase Agreement (GSPA)?” according to court filing.

An update on the legal tussle also showed that the Federal Government of Nigeria (FRN) has been successful in its bid at the London High Court to obtain further documentation in support of its efforts to set aside the $11 billion arbitration award.

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In the recent hearing, Mr. Justice Jacobs judged that the approach taken by P&ID to providing disclosure of WhatsApp/SMS messages had not been entirely satisfactory to date and as such it would be reasonable and proportionate for P&ID to disclose further information related to private WhatsApp/SMS messages sent between key figures associated with the company over a period of several years. Nigeria’s government hoped that disclosure of the messages would further reveal the questionable activities of the company ahead of the High Court trial due to begin in January 2023.

A spokesperson for the Federal Republic of Nigeria who pleaded to remain anonymous, was quoted to have said: “The Federal Republic of Nigeria remains dedicated to overturning arbitral award of around $11 billion and is leaving no stone unturned in its fight through the courts.

“This is another step in our long running effort to reveal who stands to benefit from one of the world’s largest scams. Today’s judgment will help us have greater access to messages sent between the senior figures associated with P&ID which is vital ahead of the trial which will begin in the High Court in January 2023.”

However, a Bloomberg report yesterday stated that Nigeria would try to overturn the penalty by proving that P&ID secured a gas-supply contract and the subsequent arbitration victory through bribes and lies.

The federal government had sought to convince a United Kingdom (UK) High Court that the purported $9.6 billion contract, which had now generated additional interest with P&ID, for a 20-year deal to turn Nigeria’s gas reserves into electricity, was a scam ab initio.

The lawyers representing the Nigerian government told Sir Ross Cranston, head of the court, that P&ID knew from the beginning that there was no deal, noting that it was only a facade to fleece the Nigerian people.

P&ID founded by the late Michael Quinn and Brendan Cahill, the lawyers told the court, had no intention to perform any obligation concerning the purported contract, reason the company went about bribing Nigerian government officials at the time.

The company had taken legal action against Nigeria for alleged breach of contract, with a panel of three arbitrators voting 2-1 to award P & ID the full sum of its claim of $6.6 billion at the time, plus interest, which spiked the arbitration value to about $9.6 billion.

In January 2010, Nigeria allegedly signed the gas-processing project, but two years later, the company began an arbitration process, alleging breach of contract.

In July 2015, a London tribunal gave judgement in favour of the company and in January 2017, gave the final award of $6.6 billion, with an interest rate of seven per cent, pre and post judgement.

Citing fraud, the federal government had ordered an investigation by the Economic and Financial Crimes Commission (EFCC) and in January requested a hearing to present evidence that the so-called deal was a fraud.

The project first started under the petroleum minister at the time, Mr. Rilwanu Lukman, who died in 2014, whom the Nigerian legal representative said yesterday spearheaded the alleged fraud.

The federal government told the judge that Lukman and several government officials knew the agreement was a sham and stood to make financial gains.

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A tribunal granted the company the damages in early 2017, after finding that the government had breached the original agreement.

P&ID didn’t respond to a request for comments, according to Bloomberg, but had repeatedly denied the allegations. It insisted that President Muhammadu Buhari’s government concocted the claims to avoid its legal obligation to compensate the British Virgin Islands-registered company.

The potentially costly crisis for Nigeria stems from a deal struck in 2010, where the government agreed to provide gas to a plant P&ID proposed to build.

Buhari’s administration now argues the project was a “sham” from the outset designed by the company and corrupt public officials to engineer the successful arbitration claim that a tribunal delivered more than five years ago.

 The government introduced the fraud allegations after a UK judge ruled in August 2019 that P&ID could enforce the award, which has increased with interest from an initial $6.6 billion.

Nigeria discovered late last year that P&ID was, “in possession of numerous documents which might be privileged and confidential” to the government, it said in documents prepared for a London court hearing last month.

While the “full details” of how P&ID obtained the documents “remain obscured,” it was to be “inferred” they were provided to the company by a former legal director at the petroleum resources ministry and “other corrupted individuals” acting on behalf of the government, Nigeria claimed.

Granting Nigeria permission to proceed to a full trial, Judge Cranston had said in September 2020 the government had established a strong case that the contract was “procured by bribes” and the arbitration was “tainted.”

 There is “a possibility” that Olasupo Shasore, the state’s lawyer during most of the arbitration, was “corrupted,” he had said.

Shasore didn’t respond to a request for comments, according to Bloomberg.

P&ID rejected Cranston’s conclusions in its skeleton argument last month, telling the court that Nigeria’s allegations are “clearly unfounded.” The eight-week fraud trial is scheduled to start in January.

The Nigerian government “keenly awaits the opportunity to present its case before the High Court” and “is confident that justice will finally be served,” a spokesman told Bloomberg by email.

An image of at least one of the privileged documents was supplied to P&ID by Adetunji Adebayo, a Nigerian businessman active in the oil and gas industry, who signed an agreement with the company in 2014 instructing him to facilitate negotiations around a potential settlement during the arbitration, according to the government’s skeleton argument.

Adebayo was entitled to up to half of any pay-out above $1 billion, the court document said.

The company’s co-founder, Brendan Cahill, secured the “silence” of one of his former employees who had offered in 2020 to act as a witness in the trial by entering an agreement that is “contingent on P&ID succeeding in its claim,” Nigeria further alleged last month. Neither Adetunji nor Cahill responded to requests for comments.

Following the most recent London hearing, another London judge ordered P&ID to disclose additional information, including WhatsApp and text messages.

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Massilia Motors launches new Mitsubishi L200 with low fuel consumption, advanced engineering 

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Massilia Motors launches new Mitsubishi L200 with low fuel consumption, advanced engineering 

L-R: CFAO Nigeria Country Delegate, Mr. Regis Tromeur; GMD/CEO, Kewalram Chanrai Group, Mr Siva Subramaniam; Deputy Managing Director, CFAO Mobility, Mr. Kunle Jaiyesimi; Managing Director of Massilia Motors, Olivier Lamoure; and General Manager, Sales, Massilia Motors, Mr. Tunji Itiola at the launching of the All-New Mitsubishi L 200 at Eko Atlantic, Lagos …on Friday, April 11, 2025

 

The all-new Mitsubishi L200 pickup, a 2025 edition, has been formally unveiled in Nigeria, courtesy of Massilia Motors.

Massilia Motors, the sole distributor of Mitsubishi brand of vehicles in the country and a joint venture with CFAO Mobility, says the new L200 pickup is coming with low fuel consumption, advanced engineering and ultra-tough characteristics, making it a versatile vehicle for various terrains and conditions.

The unveiling event took place at Eko Atlantic, Victoria Island, Lagos, where guests had the opportunity to experience the new pickup firsthand.

The new L200, already recognized worldwide and well-known in Nigeria, has been completely redefined in this latest model.

It features advanced engineering and ultra-tough characteristics, making it a versatile vehicle for various terrains and conditions.
The L200 is equipped with an All-New Chassis frame for improved ride and handling; lessen noise and vibration; durability; anti-corrosion; crash safety; better body size and wider interior.
The chassis frame is built with high-tensile materials to withstand tough terrain and ensure reliable performance in any condition, complemented by a redesigned suspension system.

Inside, the L200 is designed for comfort, even during long trips, with advanced technology and a thoughtfully crafted living space, according to Massilia.
The new suspension fine tune has some unique features that include Front – Double wishbone that is optimized longer stroke by geometry; Rear – Leaf spring (3 layers) with less friction.

The vehicle, powered by a six-speed manual gearbox on a 2.4-litre petrol engine, features a distinctive grille and appearance, and has won several awards, including the 2024-2025 Japan Car of the Year Design Award.
Built on inherited Pajero DNA with 4WD performance for reliability and ruggedness, Mitsubishi’s Anti-lock braking system (ABS) and Electronic Brake Force Distribution applies brake force while cornering to maintain vehicle stability and optimize traction, preventing torque loss.

The system adjusts engine output and applies brake force to spinning wheels as needed, always ensuring driver safety.
Mitsubishi has also focused on driver and passenger comfort with newly designed seats inspired by their rally heritage, providing excellent body support.

The upgraded air-conditioning system offers adjustable airflow for personalized comfort. Ample storage space and a bucket space of up to 2340mm x 1580mm makes it ideal for various tasks.

Other interior features include a 9-inch infotainment system and a new 7-inch multi-information display and outstanding cabin comfort because of better head and leg room for passengers.

The vehicle is designed to provide slip-resistant footing for safe and easy entry and exit, even in wet or slippery conditions.

The rear bumper corner allows for more foot space when the tailgate is open, featuring the largest step area in its segment.
Managing Director of Massilia Motors, Olivier Lamoure, highlighted the fact that the new L200 comes with lower fuel consumption aided by improved Aero Dynamics with roof and rear spoiler combination.

Another striking feature of the new vehicle is its enhanced cargo and payload capacity with improved turning radius of 6.2m from 5.9m, as well as higher ground clearance from 200mm to 212mm all to guarantee better driver manoeuvrability.
Lamoure added, “At Massilia Motors, it is important for us to give the keys to the customer so they can personally test the vehicle and share their impressions.

“Whether for personal use or for their business, performance and reliability are proven in the field, not in a showroom. This hands-on approach allows customers to truly experience the vehicle’s capabilities.”

Massilia Motors says it also offers prospective customers free test drive which can be booked via www.mitsubishi-motors.com.ng , where further information about the vehicle can also be obtained.
The L200 has a rich history, tracing its roots back to the Forte launched in 1978. Over the past 47 years, about 5.7 million units have been produced across five generations and sold in approximately 150 countries. The latest model continues this legacy with its high-rigidity RISE body, designed to absorb energy and minimize cabin deformation in the event of a crash.
The L200 has also received international accolades, including a five-star rating from Latin NCAP and recognition at the 2024 Arab Car of the Year awards, where it was named “Best Mid-size Pickup”.

Massilia names variants available for the Nigerian market as the Double Cab and Single Cab, adding that it offers genuine spare parts, after-sales services, and a warranty of three years or 100,000km.

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NRC suspends Warri-Itakpe train after multiple engine failure

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NRC suspends Warri-Itakpe train after multiple engine failure

 

The Nigerian Railway Corporation (NRC) on Thursday announced the suspension of its Warri-Itakpe train service, after it experienced multiple technical issues.

The standard gauge train was said to have broken down midway on Tuesday, creating some panic situation among passengers on board.
It said in a statement that the decision to suspend the train operation would allow its technical team “to conduct a full audit, resolve all identified issues, and restore safe and reliable service.”
The NRC statement signed by Henrietta Eregare of the NRC Public Relations Department, read in part, “The Nigerian Railway Corporation (NRC) wishes to inform the general public and our valued passengers that a significant disruption occurred on the Warri-Itakpe rail line on Tuesday, April 9, 2025, due to multiple technical issues involving a train engine failure.
“Management has consequently suspended train services on the route for 72 hours.
“The disruption commenced at approximately 1:38pm and affected both the 8am departure from Warri and the 2pm train from Itakpe.
“Emergency recovery protocols were immediately activated but also suffered a setback due to engine failures.”
It recalled how the corporation swiftly arranged for the safe evacuation of all passengers through road transportation with adequate security presence.
“Passengers were guided off the affected train to waiting cars approximately 500 meters from the track.
It stated, “Some Passengers chose to arrange their own transportation before the arrival of official recovery vehicles—a decision NRC understands given the delay.”
The corporation also disclosed that adequate arrangements had been made for a full refund of the value of tickets to passengers involved in the disrupted trains.
Those interested in using their tickets for future trips can take advantage of the revalidation option, according to the NRC.
“Refund and revalidation process is available on our online ticketing platforms, via our customer service lines, and at all NRC stations,” the statement added.
It expressed regret for the inconvenience caused by the unexpected disruption.
It said, “The Nigerian Railway Corporation takes full responsibility and is actively working to restore normal operations as quickly as possible. We remain committed to the safety, reliability, and comfort of our passengers.”

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BREAKING: Dangote Refinery slashes petrol price to ₦865

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BREAKING: Dangote Refinery slashes petrol price to ₦865

The Dangote refinery has informed marketers and its customers of a downward review of its ex-gantry loading cost to ₦865 per litre.

The new price is N15 less than the facility’s previous price of N880 per litre sold Wednesday.

Our correspondent learnt that the refinery alerted its clients via a notification sent out on Thursday morning.

Our correspondent gathered that the Dangote refinery informed its customers in a notice sent out on Thursday morning.

Remember that marketers had exclusively informed that the 650,000-barrel Dangote refinery was expected to reduce its petrol loading costs by the end of this week, further adding to the decline in fuel prices.

Chinedu Ukadike, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, reassured the public about the price drop while responding to the Federal Executive Council’s direction on the naira-for-crude arrangement.

Following an initial delay, the Federal Executive Council directed on Wednesday that the suspended Naira-for-Crude arrangement with local refiners be fully implemented.

It stated that the initiative with local refineries is not a temporary measure but a “key policy directive designed to support sustainable local refining”.

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The Ministry of Finance announced this in a statement published on its official X handle titled “Update on the Crude and Refined Product Sales in Naira Initiative”.

The statement was released following a meeting on Tuesday between the Minister of Finance, Wale Edun, and representatives from Dangote Refinery, a major beneficiary of the agreement, to review progress and address ongoing implementation matters.

The committee stated that the policy is not a temporary measure but rather a long-term strategy to reduce Nigeria’s reliance on foreign currency for petroleum.

It further stated that the effort is not a one-time or limited intervention but rather a fundamental policy direction aimed at promoting sustainable local refining and bolstering energy security.

The statement read, “The Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative convened an update meeting on Tuesday to review progress and address ongoing implementation matters.

“The stakeholders reaffirmed the government’s continued commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council.

“Thus, the Crude and Refined Product Sales in Naira initiative is not a temporary or time-bound intervention but a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.”

BREAKING: Dangote Refinery slashes petrol price to ₦865

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