The Nigerian anti-fraud office, the Economic and Financial Crimes Commission (EFCC), has charged two British citizens with 16 counts of money laundering.
The authorities say James Richard Nolan and Adam Quinn are directors of the firm Process and Industrial Developments (P&ID).
The company won an arbitration award against the Nigerian government over a gas project that failed which is now worth $9bn (£7bn)
A lawyer representing Mr Nolan and Mr Quinn entered a not guilty plea to the money laundering charges put forward by the EFCC.
Mr Quinn is at large but Mr Nolan has been remanded in prison until his application for bail is considered.
In a statement, the EFCC said P&ID had failed to report a deposit of $125,000 in a local account.
The agency also says the company did not declare its activities in Nigeria to the trade ministry.
This is the latest development in a protracted battle between the British Virgin Islands-based firm and the Nigerian government, over an aborted gas deal dating back to 2010.
P&ID claims the failure of successive administrations to deliver their end of the deal, led it to suffer massive losses.
The Nigerian government says the deal was designed to fail and that the arbitration award was unfair.
Latest Stories
-
Managing Prediabetes with the Help of a Dietitian
12 mins -
Joy FM listeners criticise Achiase Commanding Officer’s election comment
33 mins -
Legal Aid Commission employees threaten strike over poor working conditions
36 mins -
Ghana ranked 7th globally as biggest beneficiary of World Bank funding
45 mins -
IMF board to disburse $360m to Ghana in December after third review
50 mins -
Former Bono Regional NPP organiser donates 13 motorbikes to 12 constituencies
56 mins -
Securities industry: Assets under management estimated at GH¢81.7bn in quarter 3, 2024
1 hour -
Gold Fields Ghana Foundation challenges graduates to maximise benefits of community apprenticeship programme
3 hours -
GBC accuses Deputy Information Minister Sylvester Tetteh of demolishing its bungalow illegally
3 hours -
Boost for education as government commissions 80 projects
3 hours -
NAPO commissions library to honour Atta-Mills’ memory
3 hours -
OmniBSIC Bank champions health and wellness with thriving community walk
3 hours -
Kora Wearables unveils Neo: The Ultimate Smartwatch for Ghana’s tech-savvy and health-conscious users
3 hours -
NDC supports Dampare’s ‘no guns at polling stations’ directive
3 hours -
Police officer interdicted after video of assault goes viral
4 hours