The federal government in six different cases has arraigned six associate companies of the Process and Industrial Development Limited on a thirty nine-count charge of money laundering.
The companies were arraigned alongside James Nolan, who is also facing criminal charges in relation to the oil deal, before Justice Okon Abang of the federal high court.
The federal government has followed up on its pledge to bring to book all those involved in the Process and Industrial Development Limited scandal
It has arraigned 6 corporate bodies involved in the deal alongside James Nolan, at the federal high court Abuja on money laundering charges.
There are 40 counts in total but they have been broken down and pleas entered by the companies. Jame Nolan whose name allegedly appeared as a director in the various companies also pleaded not guilty to the charges related to him.
The charges proffered against the defendants vary from: Failure to designate at management level, a compliance officer within any strata of the company as specified under section 9a of the money laundering Prohibition Act 2011 as amended, failure to develop programs to combat money laundering and other illegal acts within the company, failure to develop an internal audit unit to ensure compliance to the money laundering Prohibition Act, and failure to supply to the Federal Ministry of Industry Trade and Investment, a declaration of the companies’ activities.
Presiding Judge Justice Ahmed Mohammed adopted the bail conditions earlier granted James Nolan by Justice Okon Abang.
