By John Nwokocha, Managing Editor
Abuja
Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, yesterday in Abuja expressed excitements over the latest victory for Nigeria on the P&ID scandals as the Commercial Court in London ordered the release of $200m used as a deposit by Nigeria in the case to be returned to Nigerian government.
This development was disclosed in a statement by Dr. Umar Jibrilu Gwandu, Special Assistant on Media and Public Relations Office of the Attorney-General of the Federation and Minister of Justice.
“We are glad having this victory in addition to multiple successes recorded so far”. Malami reported declared.
He declared further: “The recent judgement on the Nigeria’s cases against P&ID demonstrated an outcome of strong commitment and determination of the present Federal Government through the Office of the Attorney-General of the Federation and Minister of Justice to tackle fraud, corruption, non-compliance with the due process”.
Earlier in September, the federal government secured a judgement of a British court to suspend an unfavourable ruling over the scandal.
The New Narrative investigations revealed that the Royal Courts of Justice Strand, London, WC2A 2LL presided over by Justice Sir Ross Cranston said following a review of written submissions by the Nigerian government after the arbitral award, which contained “new evidence” concerning the matter in dispute, the court decided to grant “Nigeria’s applications for an extension of time and relief from sanctions.”
The P&ID problem was blown open last year when a U.K. judge ruled P&ID could enforce an arbitration tribunal’s 2017 ruling, now totaling $9.6 billion including interest, which found the country breached the agreement.
Furthermore, we learn that the gas supply arrangement was “designed to fail, partly because the company had neither the expertise nor had the government put in place necessary mechanisms for its success”.
Nigeria’s chances of annulling the giant penalty laid on proving the 2010 gas supply arrangement was a sham designed to fail by P&ID and government officials.
Following this development a commercial court in the United Kingdom granted Nigeria’s appeal for a stay of execution of the award of $8.9 billion (about N3.2 trillion) in favour of P&ID, a controversial British firm that secured a gas contract in Nigeria.
But according to the Attorney-General of the Federation and Minister of Justice who took over the coordination of the case, it has been a matter of success upon success.
He listed the successes to include among others:
Order for stay of execution of the arbitral award was granted, Nigeria recorded success challenging the order for cash deposit of $200m to bank guarantee, an order for the extension of time to challenge award and agreement, court awards payment of legal cost of €1.5m in favour of the country, The Court ordered release of bank guarantee in favour of the Federal Government of Nigeria, Award of payment of €70,00 to Nigeria as further legal cost relating to the issue and Nigeria obtains multiple positive rulings to obtain information from banks abroad which helped in establishing fraud.
Some genuinely nice stuff on this site, I like it.
You made some clear points there. I did a search on the issue and found most persons will agree with your blog.
706990 899146It is genuinely a cool and beneficial piece of information. Im glad that you shared this useful data with us. Please keep us informed like this. Thanks for sharing. 237194
44964 326121You produced some decent points there. I looked on the net to the issue and identified many people go together with together along with your web web site. 486122
107987 832840my grandmother is always into herbal stuffs and she always say that ayurvedic medicines are the very best stuff 600013
748165 802674Hi. Cool post. Theres an concern together with your web site in chrome, and you could want to test this The browser is the marketplace chief and a great element of men and women will omit your outstanding writing because of this dilemma. 732271
576647 156992Normally I do not learn post on blogs, even so I would like to say that this write-up quite pressured me to have a look at and do so! Your writing style has been surprised me. Thank you, quite great post. 753989
169125 418133But wanna admit that this really is extremely useful , Thanks for taking your time to write this. 357163
590798 825285Hi. Cool article. Theres a dilemma with the web site in chrome, and you may want to check this The browser is the marketplace chief and a big component of other folks will miss your exceptional writing due to this dilemma. I like your Post and I am recommend it for a Site Award. 535728
334340 290792Some truly good and beneficial info on this web site, likewise I conceive the style holds excellent functions. 665521
830778 881373Awesome material you fellas got these. I actually like the theme for the web site along with how you organized a person who. It is a marvelous job For certain i will come back and take a look at you out sometime. 372197
802461 171688Vi ringrazio, ho trovato che quanto scritto non sia completamente corretto 980606
108131 272743bless you with regard towards the certain blog post ive genuinely been looking with regard to this kind of advice on the net for sum time these days hence with thanks 300555
874396 161607I like the valuable information you supply inside your articles. Ill bookmark your weblog and check once again here regularly. Im quite certain Ill learn a lot of new stuff proper here! Good luck for the next! 75850
593020 372032I will proper away grab your rss feed to remain up to date on any succeeding articles you may write 585714
805060 331947I believe this web site contains some quite amazing details for every person : D. 958768
236097 214334Some truly amazing articles on this web site , appreciate it for contribution. 956759
566036 326616Exceptional weblog here! In addition your web website rather a lot up fast! What host are you employing? Can I get your affiliate hyperlink for your host? I wish my internet site loaded up as fast as yours lol. 320063
363536 404105Some truly nice stuff on this site , I it. 919419
164126 414120Superb read, I recently passed this onto a colleague who has been performing a bit research on that. And the man really bought me lunch because I came across it for him smile So allow me to rephrase that: Appreciate your lunch! 853242
531855 30696Hi, Thanks for your page. I discovered your page by way of Bing and hope you maintain providing much more good articles. 286963
874943 741731An fascinating discussion may possibly be worth comment. I believe you should write on this subject, it may well undoubtedly be a taboo topic but normally people are not enough to dicuss on such topics. To a higher. Cheers 885647
184287 508881Excellently written post, doubts all bloggers offered the identical content since you, the internet has to be far much better location. Please stay the most effective! 277823
797989 452136Im often to blogging and i in actual fact respect your content. The piece has truly peaks my interest. Im going to bookmark your content and preserve checking for brand new information. 602963
210707 748975I always pay a visit to your weblog and retrieve everything you post here but I never commented but today when I saw this post, I couldnt stop myself from commenting here. Wonderful post mate! 275267
938360 376596I really thankful to discover this website on bing, just what I was looking for : D too bookmarked . 252467
660769 798365I gotta bookmark this internet internet site it seems incredibly beneficial invaluable 516434