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Monday, May 16, 2022

EFCC quizzes ex-Lagos commissioner Shasore over P&ID scam

The Economic and Financial Crimes Commission (EFCC) has taken into custody for interrogation a former attorney-general and commissioner for justice in Lagos, Olasupo Shasore over allegation of his involvement in the Process and Industrial Developments (P&ID) case.

Shasore’s interrogation by the EFCC comes months before a dispute between Nigeria and P&ID is scheduled for trial in the United Kingdom, The Cable reports on Wednesday.

The former Lagos commissioner, who had represented Nigeria at the beginning of the P&ID case, is said to have arrived the EFCC headquarters in Abuja on Tuesday afternoon.

The country’s  has disputed the claim by the British Virgin Islands-based firm, P&ID over an arbitration award worth $10 billion against Nigeria in a botched gas contract.

The trial at the High Court in London over Nigeria rejection of the court award is expected to commence in January 2023.

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The P&ID had won a $9.6 billion judgement against Nigeria in a British court. The company claimed it entered a contract to build a gas processing plant in Calabar, Cross River state and that the deal collapsed because the Nigerian government did not fulfil its end of the bargain.

in July 2020, the federal government had told a UK court that Shasore colluded with P&ID to avert justice in the controversial gas supply purchasing agreement (GSPA) contract.

But P&ID had denied the allegation, stating that had the argument on the GSPA being void and the question on the jurisdiction of the tribunal been successful at the time, Shasore’s position “would have knocked out P&ID’s entire claim.”.

The former Lagos commissioner has also maintained that he defended Nigeria to the best of his ability on the matter.

The firm, Process & Industrial Developments (P&ID), won a $6.6 billion award from a London court after a 2010 deal for it to carry out a gas project in Nigeria collapsed. The Nigerian government wants to have the award overturned.

The award has been accruing interest since 2013 and is now worth $10 billion, which Nigeria says could cover its health budget 10 times over. It has alleged that the gas deal was an elaborate scam designed to defraud the Nigerian state.

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