$9.6bn judgment debt: How Jonathan aborted plans to pay $850m to P&ID

FRESH facts emerged on Friday that ex-President Goodluck
Jonathan aborted plans to pay $850million to Process and Industrial
Development (P&ID) Limited five days to his exit in 2015.

It was learnt that some officials of the Ministry of Petroleum
Resources smuggled a memo to the ex-President recommending the
payment of the $850million.

The ex-President, however, offered to seek a second opinion from
a senior government official who advised against the payment.

The top official was said to have advised Jonathan against such
payment in the twilight of his administration because President
Muhammadu Buhari’s government might uncover the payment.

As at press time, there were indications that the law firm
engaged from New York by the Federal Government had collected
relevant documents and received briefing from top government
officials ahead of the legal battle later this month in a UK
court.

But detectives of the Economic and Financial Crimes Commission
(EFCC) have been identifying those implicated in the Gas Supply and
Processing Agreement (GSPA) between the Federal Ministry of
Petroleum Resources and P&ID.

According to a top source, the P&ID was able to infiltrate
the administrations of Yar’Adua and Jonathan.

The source said: “About five days to the handover to Buhari
administration, some officials of the Ministry of Petroleum
Resources came up with a suspicious memo to ex-President Jonathan
on the need to pay $850million to P&ID.

“The cash was to be sourced from the escrow accounts of the
Nigerian National Petroleum Corporation (NNPC).There were no legal
instruments/ documents which fuelled suspicion by the
ex-President.

“The former President later sought advice from a senior official
in his administration who advised against the release of such a
humongous amount in about five days to his exit from power.
Jonathan later shelved plans to approve the payment to
P&ID.

“By the time the EFCC concludes its forensic investigation,
Nigerians will know more about the under-the-table deal behind the
GSPA with P&ID.”

As at press time, findings confirmed that the Federal Government
was battle ready with P&ID over the $9.6billion judgment
debt.

Another source added: “We are battle ready for P&ID. All
relevant documents and briefing by relevant government officials
have been made available to the law firm engaged from New York. The
foreign lawyers will work with both Nigerian lawyers, Olasupo
Shasore (SAN) and Bolaji Ayorinde (SAN), who have been on the
matter.

“So far, we are developing a strategy on the legal battle. The
coordinating team might still meet next week to firm up this
strategy. The position of the legal team is that we have a strong
case against P&ID.”

Meanwhile, detectives of the Economic and Financial Crimes
Commission (EFCC) have started identifying those implicated in the
Gas Supply and Processing Agreement (GSPA) between the Federal
Ministry of Petroleum Resources and P&ID.

Another top source said: “So far, the entire so-called contract
was fraudulent. We have been able to establish that the Ministry of
Petroleum Resources entered into the GSPA with P&ID without the
approval of the Federal Executive Council (FEC). Those behind the
deal took advantage of the illness of ex-President Umaru
Yar’Adua.

“The signing of the contract has traces of forgery of some
documents. We are subjecting some documents to forensic
analysis.

“As I talk to you, we have identified some past and present
government officials to be interrogated on the contract with
P&ID. The activities of the Irish firm in Nigeria are also
under scrutiny.”

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