Business A.M
No Result
View All Result
Friday, February 13, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Frontpage

P&ID is a scam attempting to cheat Nigeria of billions of dollars, Buhari tells UN

by Businessam Staff
July 29, 2025
in Frontpage

President Muhammadu Buhari says Nigeria is sending a notice to criminal groups by its vigorous prosecution of the “P&ID scam attempting to cheat Nigeria”.

Speaking at the United Nations general assembly on Tuesday, the president said his government is facing the challenges of corruption head-on.

“Organised criminal networks, often acting with impunity across international borders present new challenges where only collective action can deliver genuine results,” Buhari told the general assembly at the UN headquarters in New York.

“The present Nigerian government is facing the challenges of corruption head-on. We are giving notice to international criminal groups by the vigorous prosecution of the P&ID scam attempting to cheat Nigeria of billions of dollars.

“This is true in the battle against violent extremism, against trafficking in people and drugs and against corruption and money laundering.”

The Nigerian government is prosecuting officials of P&ID Nigeria, after the P&ID registered in British Virgin Island secured a $9.6 billion award and interest against Nigeria.

Some directors of P&ID Nigeria pled guilty in the country only last week.

The president also called out major tech companies, who he said were facilitating the spread of racist, xenophobic and false messages.

“The world was shocked and startled by the massacre in New Zealand by a lone gunman taking the lives of 50 worshippers.

“This and similar crimes which have been fuelled by social media networks risk seeping into the fabric of an emerging digital culture. Major tech companies must be alive to their responsibilities.

“They cannot be allowed to continue to facilitate the spread of religious, racist, xenophobic and false messages capable of inciting whole communities against each other, leading to loss of many lives. This could tear some countries apart.”

President Buhari called on industrial countries to take a long term view of Africa to ensure coordinated development of the continent.

“Current attempts to help develop Africa by industrial countries are un-coordinated and plainly incremental,” Buhari added.

“We have the skills, the manpower and the natural resources, but in many instances, we lack the capital – hence my plea for industrial countries to take a long-term view of Africa. We request you to come and partner with us to develop the continent for the benefit of all.

“Africa charges you with the singular task of initiating the effort we are calling for. The United Nations has in place processes for promoting collective action to combat global threats. No threat is more potent than poverty and exclusion.

“They are the foul source from which common criminality, insurgency, cross border crimes, human trafficking and its terrible consequences draw their inspiration.”

The president also spoke about the National Social Investment Programme, which he said can eventually eliminate poverty.

“Poverty in all its manifestations, remains one of the greatest challenges facing our world. Its eradication is an indispensable requirement for achieving sustainable development.”

“In this regard, Nigeria has developed a National Social Investment Programme – a pro-poor scheme that targets the poorest and most vulnerable households in the country.

“Under this initiative easy, access to financial services are facilitated to our traders, artisans, market women and co-operative societies. This type of initiative can help lessen and eventually eliminate mass poverty in Africa.

“At the core of our efforts to build an inclusive society, our programmes are focused on youth and women empowerment. These programmes aim at ensuring women and youth participation in governance, industry, climate action and agriculture.”

Previous Post

U.S. stocks drop on trade, regulatory concerns

Next Post

UNDP, Sahara Group target energy delivery to 10m households in Africa

Next Post

UNDP, Sahara Group target energy delivery to 10m households in Africa

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026
SIFAX subsidiary bets on operational discipline, cargo diversification to drive recovery at Lagos terminal

SIFAX subsidiary bets on operational discipline, cargo diversification to drive recovery at Lagos terminal

February 10, 2026
inDrive turns to advertising revenues as ride-hailing economics push platforms toward diversification

inDrive turns to advertising revenues as ride-hailing economics push platforms toward diversification

February 10, 2026

Reps summon Ameachi, others over railway contracts, $500m China loan

July 29, 2025

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Lagos Energy Summit 2026 to mobilise private capital into power sector

Lagos Energy Summit 2026 to mobilise private capital into power sector

February 13, 2026
Who Gets Replaced by AI and Why?

Who Gets Replaced by AI and Why?

February 13, 2026
Why AI Disclosure Matters at Every Level

Why AI Disclosure Matters at Every Level

February 13, 2026
The Female CEO Problem: Solutions

The Female CEO Problem: Solutions

February 13, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • SIFAX subsidiary bets on operational discipline, cargo diversification to drive recovery at Lagos terminal

    0 shares
    Share 0 Tweet 0
  • inDrive turns to advertising revenues as ride-hailing economics push platforms toward diversification

    0 shares
    Share 0 Tweet 0
  • Reps summon Ameachi, others over railway contracts, $500m China loan

    0 shares
    Share 0 Tweet 0
  • Insurance-fuelled rally pushes NGX to record high

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Lagos Energy Summit 2026 to mobilise private capital into power sector

Lagos Energy Summit 2026 to mobilise private capital into power sector

February 13, 2026
Who Gets Replaced by AI and Why?

Who Gets Replaced by AI and Why?

February 13, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M