Netizens React As EFCC Withdraws Money Laundering Charges Against Former Lagos Attorney General, Olasupo Shasore

In a surprising turn of events, the Economic and Financial Crimes Commission (EFCC) has withdrawn the money laundering charges previously filed against former Lagos State Attorney-General Olasupo Shasore. Shasore and his company, Middlesex Investments Ltd, had been arraigned on a 14-count charge of money laundering before Justice Inyang Ekwo in November 2022.

During the latest court proceedings, counsel for the EFCC, Bala Sanga, informed the judge that the Attorney-General of the Federation, Lateef Fagbemi, had directed the anti-graft agency via a letter to withdraw the charges. The letter, titled “RE: Review of All Civil and Criminal Proceedings Between Process and Industrial Developments Ltd (P&ID) and Federal Republic of Nigeria (FRN),” dated November 23, emphasized a review of the charges in light of recent developments in the P&ID case.

Counsel to Shasore, Olawale Akoni, did not oppose the application for withdrawal, leading to Justice Ekwo granting the application and subsequently discharging the defendants.

The AGF’s letter instructed the EFCC to withdraw the charges promptly, citing provisions of the Administration of Criminal Justice Act, 2015. The charges were linked to Shasore’s representation of Nigeria in the P&ID case, where the company had secured a $9.6 billion judgment against Nigeria in a British court. The judgment amount had escalated to over $11 billion due to accrued interest.

The P&ID case revolved around a contract for the construction of a gas processing plant in Calabar, Cross River State, which collapsed, leading to the legal battle. The federal government had accused Shasore of compromising the case in favor of P&ID, alleging corruption.

However, in a significant development on October 23, Justice Robin Knowles of the Commercial Courts of England and Wales ruled in favor of Nigeria, stating that the P&ID award against the country was obtained by fraud. Importantly, Justice Knowles absolved Shasore of corruption allegations related to the case. The withdrawal of money laundering charges adds a new dimension to the complex legal saga surrounding the P&ID dispute and Shasore’s role in it.

Source: Bushradiogist