General
P&ID: EFCC Re-Arraigns British Nationals for Money Laundering
By Adedapo Adesanya
The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned two British nationals, Mr James Nolan and Mr Adam Quinn (at large), before Justice Donatus Okorowo of the Federal High Court in Abuja.
They were brought to court for their alleged complicity in the controversial Process and Industrial Development (P&ID) gas processing contract, leading to the $9.6 billion arbitral awarded to P&ID Limited by a United Kingdom commercial court.
Recall that P&ID, a firm based in the British Virgin Islands, won a $9.6 billion arbitration award against the Nigerian government after the collapse of a 2010 gas project.
However, the Nigerian government had also recorded some victories, including getting the company to make the payment of more than £1.5 million to Nigeria within 21 days to cover legal costs in an ensuing legal battle between both parties as well as granted the power to make a fraud challenge against the $9.6 billion arbitration award obtained by P&ID well outside the normal time limits.
The defendants, both directors of Goidel Resources Limited – a Designated Non-Financial Institution (DNFI) – and ICIL Limited, were re-arraigned on 32 counts bordering on money laundering.
One of the counts of the charge read, “That you, ICIL LIMITED, JAMES RICHARD NOLAN and ADAM QUINN (at large) between January and December 2008 in Abuja within the Abuja Judicial Division of the Federal High Court, used the total sum of N52,202,392.91 when you reasonably ought to have known that the said fund formed proceed of your unlawful activities to wit: tax evasion and failure to submit value-added tax returns, and you thereby committed an offence contrary to section 15 (2) (d) and punishable under section 15 (3) of the Money Laundering Prohibition Act, 2011 (as amended by Act No. 1 of 2012).”
Another count read, “That you, ICIL LIMITED, JAMES RICHARD NOLAN and ADAM QUINN (at large) between January and December 2009 in Abuja within the Abuja Judicial Division of the Federal High Court, used the total sum of N26,366,748.91 when you reasonably ought to have known that the said fund formed proceed of your unlawful activities to wit: tax evasion and failure to submit value-added tax returns, and you thereby committed an offence contrary to section 15 (2) (d) and punishable under section 15 (3) of the Money Laundering Prohibition Act, 2011 (as amended by Act No. 1 of 2012).”
After the charges were read to them, the third defendant (Nolan) pleaded “not guilty” to the charges.
Mr Quinn, who is at large, was not available to take his plea but the prosecuting counsel, Mr Ekele Iheanacho, requested that his plea be recorded as “guilty” which the judge granted.
In view of Mr Nolan’s not guilty plea, Mr Iheanacho asked the court for a trial date.
The counsel to Mr Nolan, Mr Micheal Ajara, on his part applied to the court for the defendant to continue enjoying the bail granted to him by Justice Okon Abang, which the prosecuting counsel did not oppose.
Justice Okorowo, thereafter, adjourned the matter until December 13 for the commencement of the trial.
By Modupe Gbadeyanka
A hotline number, 0800 123 5264, for Nigerians to report any MRS Oil Nigeria Plc filling stations selling Premium Motor Spirit (PMS), commonly known as petrol, above the approved pump price of N739 per litre, has been released by Dangote Petroleum Refinery.
The private refiner said the number was now active nationwide, enabling consumers to promptly report violations and help maintain fair pricing across over 2,000 MRS stations.
This measure follows the refinery’s recent commencement of nationwide PMS sales at N739 per litre—a strategic intervention aimed at stabilising fuel prices and easing the financial burden on Nigerians during the festive season.
“We encourage Nigerians to avoid purchasing PMS at inflated prices when locally refined fuel is available at N739 per litre.
“Report any MRS station selling above this price by calling our hotline. Together, we can ensure that the benefits of this price reduction reach every consumer,” the company stated in a statement.
The organisation stressed its mission to deliver affordable, high-quality fuel while safeguarding national economic interests, reaffirming its commitment to steady supply, backed by a guaranteed daily output of 50 million litres, and warned against attempts to create artificial scarcity or manipulate supply.
Regulatory authorities have been urged to remain vigilant and take decisive action against unpatriotic practices.
By refining locally at scale, Dangote Refinery is reducing Nigeria’s dependence on imports, conserving foreign exchange, stabilising the Naira, and strengthening energy security. This initiative represents a significant milestone in the country’s journey toward sustainable energy solutions and economic recovery.
The refinery also issued a stern warning against attempts by unscrupulous operators to create artificial scarcity in response to the price reduction, calling on government agencies to act decisively.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable. We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn