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Home Business

P&ID: Court convicts, winds up Marqott Nig. Ltd.

Aminu Danladi by Aminu Danladi
June 25, 2022
in Business
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Justice D.U Okorowo of the Federal High Court sitting in Abuja, has convicted and wound up Marqott Nigeria Limited, one of the 30 companies linked to the Process and Industrial Development Limited (P&ID), for money laundering.

The company was convicted last Thursday after it was found guilty of a four-count charge bordering on money laundering preferred against it by the Economic and Financial Crimes Commission (EFCC).

Count one of the charge reads: “That you, Marqott Nigeria Limited, being a designated Non-financial Institution; and Giovanni Beccarelli, Valentina Fantoli, and Dimitri Duca, being directors of and signatories to the bank account of Marqott Nigeria Limited, sometime in September 2014, in Abuja, within the Abuja Judicial Division of the Federal High Court, failed to comply with the requirements of submitting to the Federal Ministry of Industry, Trade and Investment, a declaration of activities of Marqott Nigeria Limited contrary to Section 16(1) (f) read together with Section 5(1)(a)(ii) of the Money Laundering (Prohibition) Act, 2011(as amended and you thereby committed an offence punishable under section 16(2)(b) of the same Act.”

Count two reads: “That you, Marqott Nigeria Limited, being a designated Non-financial Institution; and Giovanni Beccarelli, Valentina Fantoli, and Dimitri Duca, being directors of and signatories to the bank account of Marqott Nigeria Limited, sometime in September 2014, in Abuja, within the Abuja Judicial Division of the Federal High Court, failed to develop programs to combat money laundering and other illegal acts, to wit: failure to designate at management level a compliance officer within any strata of Marqott Nigeria Limited, contrary to Section 16(1)(f) read together with Section 9(1)(a) of the Money Laundering (Prohibition) Act, 2011 (as amended) and you thereby committed an offence punishable under Section 16 (2)(b) of the same Act”.

At the point of arraignment on February 7, this year, the defendant pleaded “not guilty” to the charges, setting a stage for full trial.

In the course of the trial, the EFCC presented many witnesses and tendered many documents as exhibits.

In his judgment, Justice Okorowo found Marqott Nigeria Limited guilty of all the four count charges and convicted it accordingly. He also ordered that the company be wound up and its entire assets forfeited to the Federal Government of Nigeria.

Marqott was first arraigned on Monday, February 7, 2022 for being an accomplice in the $9.6bn Gas Supply and Processing Agreement between the Ministry of Petroleum Resources and P&ID. 

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2027: NDC fixes October 20 for Campaign Council inauguration, Presentation of Certificates of Return 

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By Myke Uzendu, Abuja  The Nigeria Democratic Congress (NDC) has fixed October 20, 2026, for the inauguration of its Presidential Campaign Council (PCC), presentation of Certificates of Return to its candidates for the 2027 general elections and a strategic dinner for candidates contesting various elective positions.  The party also disclosed that its presidential and vice-presidential candidates, Peter Obi and Rabiu Musa Kwankwaso, respectively, would participate in consultations to determine key appointments in the campaign council.  National Chairman of the NDC, Senator Moses Cleopas Zuwoghe, announced this on Saturday at a press conference at the party’s national secretariat in Abuja.  He said the campaign council’s organisational structure and timetable had been ready since the end of August, but its inauguration was being delayed to allow Obi and Kwankwaso to conclude consultations and recommend nominees for strategic positions.  According to him, the activities scheduled for October 20 would follow a meeting of the party’s National Executive Committee (NEC), where key decisions concerning preparations for the 2027 elections are expected to be considered and ratified.  Cleopas said the delay did not indicate inactivity or internal division, explaining that the party was committed to establishing a properly constituted campaign structure capable of coordinating its nationwide electoral activities.  He added that appointments would reflect national spread, competence, capacity and the ability of nominees to contribute meaningfully to the campaign.  The NDC chairman disclosed that Obi and Kwankwaso were expected to recommend nominees for several strategic positions in the Presidential Campaign Council, including Director-General, Deputy Director-General, campaign spokesperson, Director of Social Media and Financial Controller.  The candidates are also expected to nominate two additional officers who, alongside the party’s National Treasurer, will oversee the campaign council’s separate and dedicated bank account.  Cleopas said the arrangement was intended to ensure that the presidential and vice-presidential candidates were actively involved in decisions affecting the organisation, financing and direction of their campaign.  He maintained that the party leadership, the candidates and the National Leader, Senator Henry Seriake Dickson, were united in their preparations for the 2027 elections.  The chairman said the campaign council would be formally announced after the national leadership received the candidates’ nominations and recommendations.  He argued that constituting the council without the active participation of the presidential candidate and his running mate would be inappropriate, given their central roles in the presidential contest. Cleopas also dismissed reports suggesting that the party was divided or struggling to organise itself ahead of the 2027 elections.  He said the press conference was partly convened to address concerns raised by party members, supporters and Nigerians over the apparent delay in establishing the presidential campaign structure.  The chairman maintained that the National Working Committee (NWC), NEC, National Leader and party structures at the state, local government and ward levels remained committed to the party’s candidates.  He equally rejected suggestions that Dickson was working with the ruling All Progressives Congress (APC) to undermine the NDC presidential ticket.  Questioning the basis of the allegation, Cleopas said it would have been easier for Dickson to join the APC than to undertake the more demanding process of establishing and registering a political party if his objective had been to work for the ruling party.  He urged journalists to exercise caution in reporting political allegations and speculation, warning that misinformation could create unnecessary distrust and mislead the electorate. ...

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