President Muhammadu Buhari on Tuesday described the British court judgment which authorized Process and Industrial Development (P&ID) Ltd to seize N9. 6 billion worth of Nigerian assets as a scam.

Speaking at the General Debate of the ongoing 74th Session of the United Nations General Assembly in New York, Buhari said Nigeria would not tolerate attempts by persons and organizations to defraud the country.

While stressing that his administration would sustain its anti-corruption fight, Buhari told the session that the world was facing various crises, including financial crimes, calling for collective efforts by all countries to address the problems.

He said: “Organized criminal networks, often acting with impunity across international borders present new challenges where only collective actions can deliver genuine results.

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

“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.”

The President’s speech also blamed the social media for promoting crimes and mass killings, accusing technology companies of being responsible for helping the social media to fuel crises.

“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,” he added.