FG set to confiscate P&ID assets in Nigeria – Minister

The Minister of Information and National Orientation, Alhaji Lai Mohammed, has said the Federal Government was already perfecting legal instruments to enable it to take over all assets of the Process and Industrial Developments Limited in the country.
Mohammed stated this when he led agencies under his ministry’s supervision to defend their 2020 budgets before the Senate Committee on Information and National Orientation.
He said the Attorney General of the Federation and Minister of Justice, Abubakar Malami,  was working towards achieving total confiscation of all P&ID assets in Nigeria.
He said, “I am aware that the AGF is also working on registering the judgment in which the Nigerian court ordered the winding up of P&ID  Nigeria.
“The important thing about it that when this judgment is registered, it means that whatever belongs to P&ID now belongs the property of Nigeria.
“I am also aware that we are also working on instituting an action to set aside the entire award of $9.6bn on the grounds that the award did not take into cognisance. the fraud involved in the entire process.
Source: Punch Newspaper.