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Representatives of the Process and Industrial Development Ltd (P&ID) have pleaded guilty before the Federal High Court in Abuja to charges of fraud and tax evasion instituted against them.
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The Economic and Financial Crimes Commission (EFCC) on Thursday, arraigned two firms that were linked to the controversial oil contract (P&ID) that led to the judgement of the British Court that ordered the seizure of Nigeria’s foreign assets worth $9.6billion.
The firms, P&ID Ltd, Virgin Island and its Nigerian affiliate, P&ID Nigeria Ltd, pleaded guilty to the 11-count which bordered on fraud and tax evasion.