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P&ID Gas Contract: EFCC Investigates $8.9bn UK Court award


[FILES] EFCC chairman, Mr. Ibrahim Magu

The Chairman of the Economic and Financial Crimes Commission, (EFCC), Ibrahim Magu, last Friday, disclosed that the commission had commenced investigation into the circumstances leading to the $8.9bn award against Nigeria by a United Kingdom court over alleged breach of gas contract agreement between it and Process and Industrial Development Ltd.

Describing the judgment as “day-light robbery,” Magu vowed that EFCC would forensically investigate the transaction and bring anyone found wanting to book.

He spoke while playing host to a delegation from the Nigerian Diaspora Commission, led by the Chairman and Chief Executive, Hon. Abike Dabiri-Erewa, who sought collaboration with EFCC towards effective combating of cyber crimes being committed by Nigerians in the Diaspora.


Erewa-Dabiri decried the rate at which Nigerians, particularly the youth, get involved in all manner of fraudulent activities in foreign countries, saying more efforts should be geared towards combating crimes.

“It is very embarrassing to know that out of 80 suspected fraudsters you find, 70 are actually Nigerians. When things like these happen, they damage the country’s image. The bad reputation of a few Nigerians, who commit crimes, are affecting the rest of the citizens. We hope that EFCC will reassure the world that we are fighting cyber crime,” she said.

The Acting Chairman of EFCC, Ibrahim Magu, while expressing disappointment at the rising rate at which Nigerians embrace cyber crimes at home and abroad, assured of his resolve to tackle the scourge of cyber crimes and to totally rid the country of them.

He revealed that the commission partnered the FBI to fight cyber crimes in an exercise tagged “Operation Wire-wire,” and that huge success was recorded.

He said EFCC recently commenced another operation against cyber crime, tagged “Operation Rewire,” and expressed confidence on the positive outcome.

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