A Federal High Court in Abuja has ordered the closure of two companies, Trinity Biotech Nigeria Limited and Resorts Express Concept Nigeria Ltd, linked to the alleged $9.6 billion Process and Industrial Development (P&ID) Ltd scandal. The companies are connected to James Nolan, a British national who is currently at large.
Justice Donatus Okorowo, in two separate judgments, found the companies guilty of money laundering offenses. Consequently, he ordered that the companies be wound up and their entire assets forfeited to the Federal Government of Nigeria.
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The Economic and Financial Crimes Commission (EFCC) had filed separate charges against the two companies and Nolan. During the trial, the charges were amended after Nolan, a director in P&ID Ltd and the two companies, jumped bail and fled Nigeria. The EFCC then applied for Nolan to be tried in absentia.
On May 6, Justice Okorowo adjourned the cases for judgment after EFCC counsel Bala Sanga and defense lawyer Michael Ajara adopted their final written addresses and made their submissions.
Nolan has been declared wanted, and an order has been made for his arrest wherever he is sighted.
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