EFCC Withdraws Money Laundering Charge Against Shasore… 

The Economic and Financial Crimes Commission (EFCC) has withdrawn the money laundering charge filed against a former Attorney-General of Lagos State, Olasupo Shasore.

Shasore was arraigned alongside his company, Middlesex Investments Ltd, on a 14-count charge of money laundering before Justice Inyang Ekwo, in November 2022.

At the day’s proceedings, counsel for the EFCC, Bala Sanga, told the judge that the Attorney-General of the Federation, Lateef Fagbemi, has directed the anti-graft agency via a letter, to withdraw the charge.

Justice Ekwo subsequently granted the application and discharged the defendants.

The former Lagos Attorney-General had represented Nigeria in the P&ID case.

The P&ID had won a $9.6 billion judgment against Nigeria in a British court.

The potential payment had accumulated to over $11 billion, going by the interest rate

The company claimed it entered into a contract to build a gas processing plant in Calabar, Cross River State.

The firm added that the deal collapsed because the Nigerian government did not fulfil its end of the bargain.

The federal government accused Shasore of compromising the case in favour of P&ID.

However, Justice Robin Knowles of the Commercial Courts of England and Wales on October 23, ruled in favour of Nigeria in the enforcement of a $11bn P&ID Limited arbitration award.

According to the judge, the award against Nigeria by the company was obtained by fraud.

Justice Knowles also absolved Shasore of corruption allegations in the case.