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Nairaland Forum / Nairaland / General / Politics / Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times (8832 Views)
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Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by naijapower(m): 9:09am On Sep 26, 2019 |
Irish authorities and AIB are being drawn into a high-profile international legal dispute between Nigeria and a company founded by Irish investors that is claiming $9.6 billion (€10.8 billion) for a failed contract. Nigerian prosecutors said they would seek the extradition of two men from the Republic to Nigeria. They also said they were seeking information about funds sent to a Nigerian government lawyer that were transferred through AIB. The African country is embroiled in a fight with Process & Industrial Developments (P&ID), which was founded by Irish investors Michael Quinn and Brendan Cahill, over a failed 2010 deal to develop a gas-processing plant. Nigeria now alleges the contract was won corruptly and the project was never meant to succeed. P&ID denies any wrongdoing. The Nigerian anti-corruption agency has expanded its investigation into the deal by making formal requests for assistance from Irish law enforcement and the UK’s National Crime Agency, Ibrahim Magu, the head of the Nigerian agency, said in an interview with Bloomberg in London. He was one of more than a dozen government officials to speak to the news agency on Tuesday. The latest developments may draw the Government into the dispute. An Irish citizen who worked for Mr Quinn has been arrested and charged in Nigeria and remains in custody, according to lead prosecutor Bala Sanga. P&ID co-founder Mr Cahill and Mr Quinn’s son Adam will “in due course be charged,” he said, adding that he would seek the extradition of both men from Ireland to Nigeria. Mr Cahill and Mr Quinn didn’t respond to an email seeking comment. Nigerian prosecutors also said they had evidence of two bank transfers totalling $20,000 (€18,250) made by Dublin-based Industrial Consultants (International) Ltd – part of the P&ID group of companies – to Grace Taiga, a Nigerian government lawyer who oversaw the award of the gas plant contract. The payments, in 2017 and 2018, were made from an Industrial Consultants account at AIB and were purportedly for “medical costs,” Mr Sanga said in the interview. AIB spokesman A spokesman for AIB said the bank did not comment on individual accounts. A spokesperson for P&ID didn’t immediately respond to a request for comment on the latest allegations. Ms Taiga’s lawyer denied that his client had been bribed. “How could there have been a bribe to facilitate the contract that was done in 2010 and now get paid in 2018 or 2017?” Wole Olanipekun, Taiga’s lawyer, said. “It just doesn’t add up.” The payments, along with Ms Taiga’s email records, showed a “long-standing relationship” between the government official and P&ID founder Michael Quinn, who died in 2015, and his partner Mr Cahill, Mr Sanga said. Ms Taiga pleaded not guilty last week in Nigerian court to charges of fraud and accepting bribes. She was granted bail in a hearing on Wednesday and is set to stand trial on October 14th One of the world’s largest lawsuits, the claim pits the small Irish-run firm against Africa’s largest economy. P&ID, which has attracted financial backing from hedge fund manager VR Capital Group, and support from British home secretary Priti Patel, has won a series of court rulings in London and the US. The British Virgin Islands-based firm has said the Nigerian investigation is a “sham” and an attempt to escape its legal obligations. Its lawyers have threatened to start seizing state assets abroad to enforce the award. After Bloomberg published an article about the Irish founders of P&ID and their history of broken contracts and lawsuits, Nigerian investigators intensified their investigation. Two former representatives of P&ID pleaded guilty in an Abuja court this week to 11 charges including money laundering. “We are giving notice to international criminal groups by the vigorous prosecution of the P&ID scandal attempting to cheat Nigeria of billions of dollars,” Nigerian president Muhammadu Buhari said in an address to the UN General Assembly in New York on Tuesday. Nigerian attorney general Abubakar Malami said in the interview that he was considering using the fraud allegations in court as part of its defence. The Nigerian ministers and officials were in the UK for a meeting with their legal team. A hearing is scheduled to take place in London on Thursday. Enforcement “The enforcement of the $9 billion cannot stand having been based on a foundation that is rooted in fraud, corruption, tax evasion and procedural circumvention,” Mr Malami said. P&ID has said that its position is vindicated by the legal judgments in its favour. The Nigerian anti-corruption agency’s investigators have uncovered large cash withdrawals from several companies linked to Mr Quinn and Mr Cahill since 2009, in breach of Nigerian money-laundering regulations, according to Mr Sanga. The largest withdrawal was for about $700,000 in cash. Investigators haven’t yet been able to trace the recipients of the money, Mr Sanga said. – Bloomberg https://www.irishtimes.com/business/financial-services/irish-authorities-and-aib-drawn-into-9-6bn-nigerian-dispute-1.4030167?mode=amp 6 Likes 2 Shares |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by naijapower(m): 9:10am On Sep 26, 2019 |
British home secretary Priti Patel backing P&ID .A good news |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by emmasmiles(m): 1:21pm On Sep 26, 2019 |
these guys wants to somehow yahoo yahoo Nigeria abi. And if they dare succeed, YAHOO YAHOO should be legalized in this country ![]() ![]() ![]() 6 Likes |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by makewetalk2: 1:22pm On Sep 26, 2019 |
This can give you an indication of the many hands that philander with our government. I do not care one single bit for this $9b. what I am worried about is the current looting going on in the country. our politicians deal with multibillion-dollar firms all in the bid to exploit their positions of office. buhari is yet to announce the amount recovered from looters. not even one looter went to jail. they are all given immunity. what is the use of a legal system? the other minister who slapped a woman, that case is now obliterated. think about the suffering people go through everyday. today, nigeria could have been a powerful country but we are deported. all over the world, the governments know that we are wealthy but the government out of greed, build cradles instead of stables for her citizens. since buhari returned from london, wouldn't the best thought have been to build a hospital that can match the standard in which he was treated? how much really does it cost to build a hospital. Salah gave 3 million dollars. how much does Ordinary Dino's classic car worth? if it takes an individual who never held a government position to build a refinery, how much could those ex-government official have contributed to the economy? nigeria is a case of thieves. the most important thing right now is that warri passport office has no paper to print people's travel passports. they said the paper used to ptint nigerian passport comes from Singapore. abeg how much is paper? if we can print recharge card in nigeria, we can print ID cards, why cant we have papers in this country to print passport? any everybody act as if they do not care 13 Likes |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by topboss: 1:23pm On Sep 26, 2019 |
BRITAIN SHOULD CONTINUE SHIFTING BILLIONS FROM NIGERIA ANNUALLY SINCE THE END OF THE BIAFRA WAR. THEY ARE THE PEOPLE ENJOYING NIGERIA OIL AND GAS. THIS IS Y DEY SUPPORTED BUHARI. NO PROBLEM! 2 Likes |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by soberdrunk(m): 1:23pm On Sep 26, 2019 |
We will not pay this money!!! I trust Buhari sha!!! How can We pay what we don't know about, which kain illegal obese be this? That money will fix so many roads in Nigeria...... ![]() 6 Likes |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by ursullalinda(f): 1:24pm On Sep 26, 2019 |
As if our winning will be to our benefit, those in charge of Naija wil still siphon the money and share amongst themselves |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by Longcucumber(m): 1:25pm On Sep 26, 2019 |
Nothing to comment.
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Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by mewi: 1:26pm On Sep 26, 2019 |
naijapower: |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by Princerichi0(m): 1:26pm On Sep 26, 2019 |
I don't even care who wins the case. Even if Nigeria wins, the money is going into some personal accounts. So much for fighting corruption. 4 Likes |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by yomalex(m): 1:29pm On Sep 26, 2019 |
Chai |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by Cousin9999: 1:36pm On Sep 26, 2019 |
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Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by baby124: 1:37pm On Sep 26, 2019 |
Now they don’t have comment abi? |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by saintokwuluora(m): 1:45pm On Sep 26, 2019 |
Contract awarded in 2010, bribe for the contract award given in 2018. Malami and Co are grasping for survival in this case. Obviously Buhari's government under rated P&I D till after the arbitration award. This is a case of medicine after death. The only hope here is resurrection, so government should be humble and seek to re-negotiate with the company before oyinbo go help their own to do Nigeria something. |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by blackboy2star(m): 1:48pm On Sep 26, 2019 |
We will triumph las last... awon jegudujera, this contract pass yam eaters. This one nah human eaters 7 Likes 1 Share |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by baby124: 1:57pm On Sep 26, 2019 |
saintokwuluora:Can she tell us what relationship she has with the company then? Being that her signature appeared on the contract when she had absolutely no authority to sign? Anyway they will investigate those payments made to offshore accounts. I am sure her name will come up! 9 Likes 2 Shares |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by Nobody: 2:05pm On Sep 26, 2019 |
saintokwuluora: Not really, the concern is what business is involved to have warranted the exchange of money between them. FG did not claim it was bride, it was Ms Taiga’s lawyer who jumped into conclusion to deceived or confuses the public. Read the statement again Nigerian prosecutors also said they had evidence of two bank transfers totalling $20,000 (€18,250) 2 Likes |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by Mrfeel: 2:05pm On Sep 26, 2019 |
All the foreign countries that supported Nigeria during the Biafra war, did so not because the care about Nigerian unity they did it because of the oil, shell company spent hundreds of millions on the Biafran war, Britain did the same, so they are just ripping the fruit of their labor, Nigerian government should pay that money 1 Like |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by Nobody: 2:10pm On Sep 26, 2019 |
Mrfeel: You deserve beating of a lifetime 4 Likes 1 Share |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by Mrfeel: 2:45pm On Sep 26, 2019 |
FreelanceRebel: Please read how Britain helped Nigeria during the Biafra war The British had planned to maintain and expand their supply of cheap high-quality oil from Nigeria. Therefore they placed a high priority on maintenance of oil extraction and refining operations. They backed the Federal Government but, when the war broke out, cautioned them not to damage British oil installations in the East. These oilworks, under the control of Shell-BP Petroleum Development Company (jointly owned by Shell and British Petroleum), controlled 84% of Nigeria's 580,000 barrels per day. Two-thirds of this oil came from the Eastern region, and another third from the newly created Mid-West region. Two-fifths of all Nigerian oil ended up in Britain. Here was a deal Shell-BP therefore considered carefully a request by the Federal Government that it refuse to pay the royalties demanded by Biafra . Its lawyers advised that payment to Biafra would be appropriate if this government did in fact maintain law and order in the region in question. The British government advised that paying Biafra could undermine the goodwill of the Federal Government. But Shell-BP made the payment, to (biafra) and the government established a blockade on oil exports. Forced to choose a side, Shell-BP and the British government threw in their lot with the Federal Government in Lagos, apparently calculating that this side would be more likely to win the war. As the British High Commissioner in Lagos wrote to the Secretary of State for Commonwealth Affairs on 27 July 1967: Shell-BP took this advice. It continued to quietly support Nigeria through the rest of the war, in one case advancing a royalty of £5.5 million to fund the purchase of more British weapons. During the war, Britain covertly supplied Nigeria with weapons and military intelligence and may have also helped it to hire mercenaries. After the decision was made to back Nigeria, the BBC oriented its reporting to favour this side. Supplies provided to the Federal Military Government included two vessels and 60 vehicles. Nigeria should pay that money and stop complaining 2 Likes |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by somehow: 3:23pm On Sep 26, 2019 |
naijapower: Anything to bring down your country right? What is the good news here? Bloody traitor not fit to be a citizen of any country on earth! 3 Likes |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by dabongys: 3:24pm On Sep 26, 2019 |
Mrfeel: Exactly the point. 2 Likes |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by Legendguru: 4:09pm On Sep 26, 2019 |
Hmmm |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by MrMicholo(m): 4:22pm On Sep 26, 2019 |
Mrfeel: You're so right bro.. Russia supported Nigerian government with heavy weapons and ammunitions in order to get the right to build the biggest steel mill in Africa.. holding on 60%of the gain.. buh The Ajaokuta steel mill never kicked off till today.. the Russians left it a long time ago. 2 Likes |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by Nobody: 4:37pm On Sep 26, 2019 |
Mrfeel: Vietnam also had their own internal war but they have progress beyond level of hating each other 1 Like |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by drlateef: 4:49pm On Sep 26, 2019 |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by Jacseyi(m): 5:50pm On Sep 26, 2019 |
The British would never change..........stealing, stealing, stealing and more stealing without shame. Up till today, the artifacts stolen across Africa are still with them. Our $9bn would not save your declining Brexit and economy. We are watching, Nigeria would over come. To all you guys blaming everything Nigeria and Africa can you see how you've been badly brainwashed by the western media that always paint Africans as corrupt? They have destroyed your reasoning capacity. 3 Likes |
Re: Irish Authorities And AIB Drawn Into $9.6bn Nigerian Dispute-Irish Times by slysteel: 6:09pm On Sep 26, 2019 |
Aib bank na crooks,deducting my money from current for failing to credit my savings,ndi oshi |
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