Court Orders Closure Of P&ID Operations, Assets Forfeiture

The Federal High Court in Abuja has ordered the closure of operations of Process and Industrial Development Limited (P&ID) and P&ID Nigeria Limited (P&ID).

Justice Inyang Ekwo gave the order following the arraignment of the companies on Thursday by the Economic Financial Crimes Commission (EFCC). He also held that the companies forfeit their assets to the Federal Government of Nigeria.

The judge gave the ruling after the representatives of the companies pleaded guilty to the 11 charges brought against them by the anti-graft agency.