Massive Victory As Nigeria Wins P&ID Case in UK Court: “Someone Will Embezzle the Money”
- Nigeria has won a case against Process & Industrial Developments (P&ID) Limited in a London court
- The court dismissed the $11 billion arbitration award in favour of P&ID, upholding Nigeria’s argument that the gas processing contract was obtained through fraud
- The ruling, delivered by Justice Robin Knowles of the Commercial Courts of England and Wales via email, has stirred mixed reactions online
The federal government of Nigeria, headed by President Bola Ahmed Tinubu, has emerged victorious in its legal battle against Process & Industrial Developments (P&ID) Limited in a London court on Monday, October 23.
Source: Facebook
Vanguard reported that the judgment was delivered after five years of legal frameworks, which have finally been to the advantage of Nigeria, as the court squashed the $11 billion arbitration award in favour of P&ID.
In its judgment delivered by e-mail, Robin Knowles, the Justice of the Commercial Courts of England and Wales, upheld Nigeria’s prayer on the ground that the ill-fated gas processing contract was obtained by fraud, The Cable report added.
This ruling came after the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, urged the bid winners for the Nigerian Gas Flare Commercialisation Programme (NGFCP) to hasten site development.
$11bn judgement debt: Netizens react to UK court's ruling in favor of Nigeria
Nigerians took to X page (formerly Twitter) and shared their opinion on the development. Legit.ng captured some of their reactions.
@MorrisStephn tweeted:
"Someone will embezzle the money."
@YakubuJonah5 tweeted:
"Oya make dem carry d money come give poor people."
@ejiofor_iz30081 tweeted:
"This company made the mistake of their existence, they should have brought the case to Nigeria and bribe the judges, and even present forged documents to back up their claim. Case closed."
@EseluEselu4 tweeted:
"Congratulations to Nigeria if it's our domestic courts they will collect bribe and rule on d highest bidder."
@DRREAL01 tweeted:
"Cr!minal gvt will never make good use of the money ..otilo."
Ex-President Obasanjo reveals how to save naira from falling
In another report, a solution was recommended to the federal government to combat the frequent fall of the Naira to the dollar.
The federal government has been urged to transition from a single-resource economy to a diversified one.
Ex-president Olusegun Obasanjo suggested this recommendation at a public event in Abeokuta, Ogun state.
Former Nigerian minister gets £70,000 bail in UK court
In another development, Diezani Alison-Madueke, the Nigerian former minister of petroleum resources, was granted a £70,000 bail in the United Kingdom (UK) court over a £100,000 bribery allegation.
The former minister appeared before Michael Snow of the Westminster Magistrates Court in the UK on Monday, October 2, where she was granted bail.
Source: Legit.ng
