- The minister of justice, Abubakar Malami, has revealed how Nigeria learnt her lesson from P&ID scandal
- Malami said the whole saga associated with P&ID contract was a product of corruption
- According to the minister, the federal government was working towards making Nigeria an arbitral proceedings hub
Abubakar Malami, the minister of justice and attorney-general of the federation, has said that the federal government has learnt some lessons with the imbroglio that ensued relating to the Process and Industrial Development Limited (P&ID) contract.
PR Nigeria reports that Malami stated this while presenting keynote addresses during the African Arbitration day at the virtual international conference organized by the British Institute of International and Comparative Law (BIICL), Babcook University, and the School of International Arbitration at Queen Mary University of London (QMUL).
In a statement issued by his media aide, Umar Jibrilu Gwandu, on Thursday, September 3, Malami said: "The whole saga associated with P&ID contract was a product of corruption, fraud and non-compliance with processes and procedures."
He noted that associated processes and procedures that were required from the agencies involved, associated approvals and permits were not obtained, the Federal Executive Council approval was never sought for the contract and yet the contract was signed “without allowing these processes and procedures to be consummated.
“The greatest lesson that is apparent arising from this is to put our house in order by way of ensuring that we have in place standard operating procedures relating to each and every agreement that has the potential of affecting our national economy and national interest,” he explained.
He said the federal government was working towards making Nigeria an arbitral proceedings hub rather than working towards the direction of submitting to other jurisdictions as per where arbitration is concerned.
The minister explained that the government is determined to see what can be done in terms of encouraging the choice of Nigeria as a seat of arbitration “so that what we are doing in terms of strengthening our arbitration and arbitral processes and proceeding are strengthen within the context of making us a hub of arbitration proceeding within the African continent.”
He disclosed that Nigeria has two arbitration centres in Abuja and Lagos that are fully equipped and provide all the services required of an arbitration centre.
Malami said Nigeria has elaborate rules on arbitration as an alternative to litigation adding that Nigeria’s arbitral rules are consistent with the prevailing best practice situation in Africa and the world.
He also said Nigeria’s economic power in Africa now makes it imperative for the country to keep resolving investment disputes through arbitration in order to make Nigeria an investment hub of the continent.
Meanwhile, Legit.ng had previously reported that Malami was accused of lying against former petroleum resources minister, Rilwan Lukman.
It was reported that Lukman's family made this allegation against Malami and asked the justice minister to tender an apology as row continues over the latter's affidavit before the Commercial Court of England over the ongoing legal tussle involving P&ID.
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