Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Nigerian anti-graft office charges former oil official over failed gas deal

Published 20/09/2019, 16:28
© Reuters.  Nigerian anti-graft office charges former oil official over failed gas deal

By Camillus Eboh

ABUJA, Sept 20 (Reuters) - Nigeria's anti-fraud office on

Friday charged a former petroleum ministry official with

accepting bribes and failing to follow protocol over an

ill-fated gas deal that has left the government facing a

disputed bill of more than $9 billion.

Grace Taiga, former petroleum ministry director of legal,

pleaded not guilty in a court in the capital of Abuja to eight

counts of wrongdoing put forward by the Economic and Financial

Crimes Commission (EFCC).

In court documents, the EFCC also alleged the now-deceased

former petroleum minister and OPEC official Rilwanu Lukman broke

the law by signing the deal without proper approvals and

protocol.

The charges relate to a 2010 contract with British Virgin

Islands-based firm Process and Industrial Developments (P&ID) to

build and operate a gas-processing plant in the southeastern

port city of Calabar.

P&ID took the government to international arbitration after

the deal's collapse, eventually winning a $6.6 billion award. It

has been accruing interest since 2013 and is now worth more than

$9 billion. The government has said the deal was designed to fail, and

called the award "an assault on every Nigerian and unfair." P&ID

said the EFCC had harrassed, intimidated and denied due process

to individuals associated with the company and the contract.

The EFCC alleges Taiga accepted bribes, made false

statements and signed the contract without approval from the

federal executive council and Bureau of Public Procurement.

It said she received $1,000 in 2015 and payments of $10,000

in each of December 2017 and June 2018 as a reward for favours

to P&ID.

The judge remanded Taiga in prison until her application for

bail is determined on Sept. 25.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.