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Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID - Politics - Nairaland

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Bashir Ahmad: Second Niger Bridge To Be Named After Buhari, Not Jonathan / P&ID $9bn Judgement Debt: P&ID Gas Contract Was Not Approved, Says Aondooakaa / Anxiety Over $9bn Nigerian Assets; London Court Sits On Tuesday (2) (3) (4)

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Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Omooba77: 3:49pm On Aug 30, 2019
The attempt by President Muhammadu Buhari to to pin the $9billion British court’s judgement debt on former President, Goodluck Jonathan, has been dismissed by the Process and Industrial Developments Limited (P&ID), the very Irish company, that is in the thick of the entire saga.

P&ID in a clear statement, on Friday, completely absolved the former President of culpability and blamed both Buhari and the Attorney General, Abubakar Malami responsible for the development.

The company, in attempt to set the record straight, P&ID, detailed how the Buhari government, practically slept on the issue and accused Malami particularly of trying to revise history and introduce allegations of contract fraud.

Read the full statement:

Malami’s Revisionist History

It is another day, and with it comes another attempt from the Nigerian Government to create a fictional history of the P&ID case.

This week’s series of desperate conspiracy theories point to something deeper: the Buhari Administration is refusing to admit its own role in the P&ID case from 2015-2019 after it came into office.

Appearing on CNBC Africa, Attorney General Abubakar Malami sought to wipe his hands and the hands of the Buhari Administration clean when he stated, “[t]he government as a unit was delicately involved. And that was the government in 2010, the award was in 2012, and then three years thereafter the current administration under the leadership of Muhammadu Buhari came into place. So the time when this administration came to place in 2015, the award was over three years, there was no appeal, no application for execution, no application to set the award aside.”

Attorney General Malami seems to have a case of amnesia.

Let’s set the record straight:

May 3, 2015: P&ID offers to settle the dispute with the Nigerian Government for $850mm. President Goodluck Jonathan indicates they are handing over the negotiations to the incoming Buhari Administration.

May 29, 2015: Muhammadu Buhari is sworn in as the 15th President of Nigeria, but fails to appoint a cabinet for five months.

July 17, 2015: The Arbitration Tribunal found in favor of P&ID (i.e. – the Liability Award). The new Buhari Administration did not make any attempts at settling or negotiating with P&ID, and did not make any effort to challenge the decision.

November 11, 2015: Attorney General Malami was sworn in November 11, 2015, just under three months after the Liability Award.

May 27, 2016: The Arbitration Tribunal wrote to the Nigeria Government confirming that: “As the parties will be aware from Procedural Order No 12, the Tribunal has decided that the seat of the arbitration is England. It follows that the Federal Court of Nigeria had no jurisdiction to set aside its Award.” Neither Attorney General Malami, nor any representative of the Buhari Administration did anything in response other than continue with the proceedings, thereby tacitly accepting the analysis of the Arbitration Tribunal.

June 24, 2016: Having failed to set aside the Liability Award by falsely claiming the seat of arbitration was in Nigeria; not England, Attorney General Malami wrote personally to the arbitrators to say “my office has taken over the handling of the above arbitration on behalf of the Ministry of Petroleum Resources.” He asked for and obtained an extension of time to file a defence to quantum, and appointed his own legal team in place of the Ministry of Petroleum Resource’s legal team.

August 30-31, 2016: The Quantum Hearing (i.e. – amount of damages payable) takes place in London. Attorney General Malami’s legal team conducted Nigeria’s defence at the quantum hearing. Expert witnesses as to quantum were called to give evidence and were cross-examined.
After the Quantum Hearing, Attorney General Malami instructed his lawyers to request a standstill agreement, which would take effect from the date of the Award.

This fact has never been publicly reported until today.

January 31, 2017: The Arbitral Tribunal issued a final award, ordering Nigeria to pay P&ID $6.5 billion plus $2.3 billion in uncollected interest as of March 2018.

February 17, 2017: The Award on Quantum was delivered to the parties on February 17, 2017. Despite the 60-day standstill having been agreed by P&ID, Attorney General Malami made no attempt to negotiate with P&ID during the 60 days following the handing down of the Quantum Award.

April 28, 2017: After the 60 days had expired, Attorney General Malami instructed his lawyers to write to P&ID’s lawyers and explained that “The delay was occasioned by the bureaucracy of the Federal Government in a bid to determine a reasonable strategy after receipt of the Arbitral award.” The Attorney General’s lawyers added: “we now have the authority of the Vice President of the Federal Republic of Nigeria to meet with the Claimant to negotiate the Terms of the Arbitral award.”

Today: In the lead up to the judgment by the English Commercial Court, Attorney General Malami allowed the time for acknowledging service in both the United States and London to lapse without filing any response. In both jurisdictions, Nigeria’s lawyers Curtis Mallet had to apply for ex post facto extensions of time and make the necessary apologies and explanations to the court.

In London, a senior Curtis Mallet partner explained that the Claim Form was “immediately filed and not passed up the chain of command” at the Ministry of Justice. The partner pleaded that “the delay was neither deliberate nor intended to be disrespectful to the Court.”

In the US, Curtis Mallet explained that the deadline was missed because they were in the process of being formally retained by the Nigerian Government and had been instructed to enquire about the potential for a settlement

The Attorney General’s pronouncements in the Nigerian press are a clear attempt to cover up his own incompetence and that of the Buhari Administration. This is a matter, which could have been settled shortly after he took office in November 2015 for $850 million. Instead, he personally took the decision to gamble on the arbitration and turned an $850 million liability into a $9.6 billion liability.

And at no time since has Attorney General Malami assumed responsibility has he raised any allegation of fraud or scam, either in the arbitration or in the subsequent enforcement proceedings. The reason for this is that there was no fraud. All of this raises serious concerns for foreign investors in Nigeria, whether you are investing in a commercial enterprise or buying Eurobonds. Not only will Nigeria deliberately refuse to pay an international arbitration award backed by an English Court, but they are prepared to launch sham investigations and character assassinations when all else fails.

This is a serious assault on the Rule of Law by a demonstrably dishonest administration.

Meanwhile, P&ID is now focused on vigorously enforcing its legal rights in the UK, including seizing Nigerian assets to satisfy the award. This will begin as soon as possible.

http://thebossnewspapers.com/2019/08/30/buhari-not-jonathan-to-be-blamed-for-9bn-judgement-debt-says-pid/amp/#click=https:///xLzi8x01ob

55 Likes 11 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by APCHaram: 3:50pm On Aug 30, 2019
Omooba77:
Buhari, Not Jonathan to Be Blamed for $9bn Judgement Debt, Says P&ID

Where's the article and link?

Only a slowpoke will blame Jonathan.

164 Likes 9 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Omooba77: 3:59pm On Aug 30, 2019
APCHaram:


Where's the article and link?

Only a slowpoke will blame Jonathan.

Check the link ooooo
Lala n lala

14 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by jlinkd78(m): 4:02pm On Aug 30, 2019
Following

2 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Splinz(m): 4:05pm On Aug 30, 2019
This is a serious assault on the Rule of Law by a demonstrably dishonest administration.

shocked

And to cap it all, an inglorious administration with a stench veil of corruption fight.

Whether the coven of broom waving demons and men of gigantic corruption scales likes it or not, His Excellency, President Goodluck Ebele Jonathan, is on a class of his own: an enviable height never to be attained by cow enthusiasts and men of little intellect not higher than Tacha's eyebrow.

Like little Success, them go try try try... Na them go tire! cheesy

256 Likes 19 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Josnac(m): 4:11pm On Aug 30, 2019
What

I no do again. Please which bus park is closest to Canada??

Modified:
I've never seen a government so inept, confused, and directionless as what we have now.

No clear cut policies or economic strategies.. Everything has to be "lie, lie again, lie more".. And when people begin seeing through their lies and ineptitude, they begin sharing #10,000 hush money in the name of rubbish business loans.

And to think that even a man like Femi Adesina, respected by me and quite possibly, thousands of other Nigerians during his stint with The Sun because he was objective, truthful and dedicated to truth and fairness, has been corrupted beyond measure speaks volume of the evils of this government.

Who did we even offend

176 Likes 12 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by APCHaram: 4:15pm On Aug 30, 2019
but they are prepared to launch sham investigations and character assassinations when all else fails.



This quota system sharia lawyer thought he had the acumen to challenge an already settled matter.

This is how arrogance compounded by ignorance is the hallmark of mediocrity.

146 Likes 13 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Beadex1(m): 4:15pm On Aug 30, 2019
this administration keeps lying about everything from one problem to the other, one day Buhari go wakeup deny himself as the president of this country

164 Likes 9 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by amc: 4:18pm On Aug 30, 2019
Lies from the pit of hell.

https://guardian.ng/business-services/nnpc-others-silent-over-united-states-courts-6-59-billion-gas-contract-fine/

But P&ID had said attempts to settle out-of-court with the federal government failed, which was why in August 2012, it served the Nigerian Government a Request for Arbitration.

Government on its part, argued before the Tribunal that: “The failure of P&ID to acquire the site and build Gas Processing Facilities was a fundamental breach, and that no gas could be delivered until this has been done.”

But the tribunal ruled that the Nigerian Government’s obligations under Article 6B were not conditional upon P &ID having constructed the gas processing facilities.

In July 2015, the Tribunal found that Nigeria had repudiated its obligations under the GSPA, and that P&ID had been entitled to accept the repudiation and claim damages for breach.

On December 23, 2015, the government asked for the award to be set aside. That was after earlier committing that the arbitration’s decision shall be final and binding upon parties.

Hence, on February 10, 2016, the application was dismissed, paving way for the hearing on July 22 to 24, 2016, to determine the damages.

In the Tribunal’s opinion, the damage suffered by P&ID was the loss of net income the company would have received if government had kept its side of the contract.

12 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Omooba77: 4:18pm On Aug 30, 2019
Josnac:
What
I no do again. Please which bus park is closest to Canada??
No way unless you go joun Seun for Ota!

7 Likes 2 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by helinues: 4:19pm On Aug 30, 2019
Completely absolved? Why didn't GEJ pay the money when it was $850m?

$850m for an invisible power plants??

So they expect a new incoming government still trying to recover the money looted by Pdp goons to start paying debts upon resuming office.

Btw P&ID cant stoop so low in blaming whose responsible or not as long they get their money.

Op is being mischievous as usual

35 Likes 3 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Blue3k(m): 4:20pm On Aug 30, 2019
Lol I read they're going going back to negotiating table. I wonder if the company is interested in more talks after they got huge judgement. Anyway why would the company care to comment on this? The statement is odd.

7 Likes 4 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by wirinet(m): 4:20pm On Aug 30, 2019
In all these grammar, I did not see what was sold or what was bought? No government will give away millions or dollars just because a piece of paper was signed. If so then government officials can just sell the country with a piece of paper and arbitration panel I London or Japan will just ratify it.
If this was done with a reasonable country, it will be seen as a declaration of war.

25 Likes 3 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Hypnotism: 4:24pm On Aug 30, 2019
More like, says Ipob to me.

11 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Nobody: 4:27pm On Aug 30, 2019
This is a serious assault on the Rule of Law by a demonstrably dishonest administration.


Buhari taught it was Nigeria as usual.


Illiterate buffoon

48 Likes 4 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Hypnotism: 4:27pm On Aug 30, 2019
Fake Igbo /Ipob website, wake me up when premiertimw vanguard or Punch make the same disclosure.

Omooba77:
The attempt by President Muhammadu Buhari to to pin the $9billion British court’s judgement debt on former President, Goodluck Jonathan, has been dismissed by the Process and Industrial Developments Limited (P&ID), the very Irish company, that is in the thick of the entire saga.

P&ID in a clear statement, on Friday, completely absolved the former President of culpability and blamed both Buhari and the Attorney General, Abubakar Malami responsible for the development.

The company, in attempt to set the record straight, P&ID, detailed how the Buhari government, practically slept on the issue and accused Malami particularly of trying to revise history and introduce allegations of contract fraud.

Read the full statement:

Malami’s Revisionist History

It is another day, and with it comes another attempt from the Nigerian Government to create a fictional history of the P&ID case.

This week’s series of desperate conspiracy theories point to something deeper: the Buhari Administration is refusing to admit its own role in the P&ID case from 2015-2019 after it came into office.

Appearing on CNBC Africa, Attorney General Abubakar Malami sought to wipe his hands and the hands of the Buhari Administration clean when he stated, “[t]he government as a unit was delicately involved. And that was the government in 2010, the award was in 2012, and then three years thereafter the current administration under the leadership of Muhammadu Buhari came into place. So the time when this administration came to place in 2015, the award was over three years, there was no appeal, no application for execution, no application to set the award aside.”

Attorney General Malami seems to have a case of amnesia.

Let’s set the record straight:

May 3, 2015: P&ID offers to settle the dispute with the Nigerian Government for $850mm. President Goodluck Jonathan indicates they are handing over the negotiations to the incoming Buhari Administration.

May 29, 2015: Muhammadu Buhari is sworn in as the 15th President of Nigeria, but fails to appoint a cabinet for five months.

July 17, 2015: The Arbitration Tribunal found in favor of P&ID (i.e. – the Liability Award). The new Buhari Administration did not make any attempts at settling or negotiating with P&ID, and did not make any effort to challenge the decision.

November 11, 2015: Attorney General Malami was sworn in November 11, 2015, just under three months after the Liability Award.

May 27, 2016: The Arbitration Tribunal wrote to the Nigeria Government confirming that: “As the parties will be aware from Procedural Order No 12, the Tribunal has decided that the seat of the arbitration is England. It follows that the Federal Court of Nigeria had no jurisdiction to set aside its Award.” Neither Attorney General Malami, nor any representative of the Buhari Administration did anything in response other than continue with the proceedings, thereby tacitly accepting the analysis of the Arbitration Tribunal.

June 24, 2016: Having failed to set aside the Liability Award by falsely claiming the seat of arbitration was in Nigeria; not England, Attorney General Malami wrote personally to the arbitrators to say “my office has taken over the handling of the above arbitration on behalf of the Ministry of Petroleum Resources.” He asked for and obtained an extension of time to file a defence to quantum, and appointed his own legal team in place of the Ministry of Petroleum Resource’s legal team.

August 30-31, 2016: The Quantum Hearing (i.e. – amount of damages payable) takes place in London. Attorney General Malami’s legal team conducted Nigeria’s defence at the quantum hearing. Expert witnesses as to quantum were called to give evidence and were cross-examined.
After the Quantum Hearing, Attorney General Malami instructed his lawyers to request a standstill agreement, which would take effect from the date of the Award.

This fact has never been publicly reported until today.

January 31, 2017: The Arbitral Tribunal issued a final award, ordering Nigeria to pay P&ID $6.5 billion plus $2.3 billion in uncollected interest as of March 2018.

February 17, 2017: The Award on Quantum was delivered to the parties on February 17, 2017. Despite the 60-day standstill having been agreed by P&ID, Attorney General Malami made no attempt to negotiate with P&ID during the 60 days following the handing down of the Quantum Award.

April 28, 2017: After the 60 days had expired, Attorney General Malami instructed his lawyers to write to P&ID’s lawyers and explained that “The delay was occasioned by the bureaucracy of the Federal Government in a bid to determine a reasonable strategy after receipt of the Arbitral award.” The Attorney General’s lawyers added: “we now have the authority of the Vice President of the Federal Republic of Nigeria to meet with the Claimant to negotiate the Terms of the Arbitral award.”

Today: In the lead up to the judgment by the English Commercial Court, Attorney General Malami allowed the time for acknowledging service in both the United States and London to lapse without filing any response. In both jurisdictions, Nigeria’s lawyers Curtis Mallet had to apply for ex post facto extensions of time and make the necessary apologies and explanations to the court.

In London, a senior Curtis Mallet partner explained that the Claim Form was “immediately filed and not passed up the chain of command” at the Ministry of Justice. The partner pleaded that “the delay was neither deliberate nor intended to be disrespectful to the Court.”

In the US, Curtis Mallet explained that the deadline was missed because they were in the process of being formally retained by the Nigerian Government and had been instructed to enquire about the potential for a settlement

The Attorney General’s pronouncements in the Nigerian press are a clear attempt to cover up his own incompetence and that of the Buhari Administration. This is a matter, which could have been settled shortly after he took office in November 2015 for $850 million. Instead, he personally took the decision to gamble on the arbitration and turned an $850 million liability into a $9.6 billion liability.

And at no time since has Attorney General Malami assumed responsibility has he raised any allegation of fraud or scam, either in the arbitration or in the subsequent enforcement proceedings. The reason for this is that there was no fraud. All of this raises serious concerns for foreign investors in Nigeria, whether you are investing in a commercial enterprise or buying Eurobonds. Not only will Nigeria deliberately refuse to pay an international arbitration award backed by an English Court, but they are prepared to launch sham investigations and character assassinations when all else fails.

This is a serious assault on the Rule of Law by a demonstrably dishonest administration.

Meanwhile, P&ID is now focused on vigorously enforcing its legal rights in the UK, including seizing Nigerian assets to satisfy the award. This will begin as soon as possible.

http://thebossnewspapers.com/2019/08/30/buhari-not-jonathan-to-be-blamed-for-9bn-judgement-debt-says-pid/amp/#click=https:///xLzi8x01ob

5 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by OlujobaSamuel: 4:28pm On Aug 30, 2019
I talk am, this deal was designed to steal fund.
I don't think a responsible company should be interested in the dirty politics of blame game a country chooses to play with themselves, what they should be after is their fund.
The statement by this company sounds more like that of a naija politician than a responsible company.
Alpha Beta sef no fit release this kind statement.

26 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Blizzy9ja: 4:28pm On Aug 30, 2019
This government keep disgracing us and blaming it on GEJ

24 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Josnac(m): 4:29pm On Aug 30, 2019
Omooba77:


No way unless you go joun Seun for Ota!

See this one, what makes you think oga Seun is still here with us

6 Likes 2 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by OfoIgbo: 4:37pm On Aug 30, 2019
Foreigners can now see the depth of incompetence that the governance of Nigeria has assumed.
The level of the intelligence of Tinubu and Buhari and Abba Kyari and Malami is now laid bare.

People can now start seeing yet another reason why Igbos are now clamouring for Biafra. Who wants to be in the same country with morons?
They did their worse to destroy the international reputation of Ngozi Okonjo-Iweala. Thank God, she soared above all of them, and is well internationally feted wherever she goes.

They brought in a certificate forger as her replacement. Sharia judge as the Supreme Court supremo, of course after using ruse corruption situations to intimidate him out of office, the highly competent Onnoghen.
Now they have tried to use the corruption ruse to attack P&ID, unfortunately for them, it is not a Nigerian company, and the courts to deal with this issue are not within Buhari's reach, so the Onnoghen treatment will not work.

They brought in Fulani terrorists to be raping and killing indigenous peoples. haba

Now they have so incompetently landed Nigeria into a totally avoidable $9 billion dollars debt. What a collection of idiots

People can now see why even though I am not a member of IPOB, I won't be lifting my little finger in standing in their way, vis-a-vis this highly incompetent government

55 Likes 5 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Omooba77: 5:20pm On Aug 30, 2019
OfoIgbo:
Foreigners can now see the depth of incompetence that the governance of Nigeria has assumed.
The level of the intelligence of Tinubu and Buhari and Abba Kyari and Malami is now laid bare.

People can now start seeing yet another reason why Igbos are now clamouring for Biafra. Who wants to be in the same country with morons?
They did their worse to destroy the international reputation of Ngozi Okonjo-Iweala. Thank God, she soared above all of them, and is well internationally feted wherever she goes.

They brought in a certificate forger as her replacement. Sharia judge as the Supreme Court supremo, of course after using ruse corruption situations to intimidate him out of office, the highly competent Onnoghen.
Now they have tried to use the corruption ruse to attack P&ID, unfortunately for them, it is not a Nigerian company, and the courts to deal with this issue are not within Buhari's reach, so the Onnoghen treatment will not work.

They brought in Fulani terrorists to be raping and killing indigenous peoples. haba

Now they have so incompetently landed Nigeria into a totally avoidable $9 billion dollars debt. What a collection of idiots

People can now see why even though I am not a member of IPOB, I won't be lifting my little finger in standing in their way, vis-a-vis this highly incompetent government

Hardened heart does not change

2 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Racoon(m): 5:22pm On Aug 30, 2019
So the APC does not know that govt is a continuum? They have 4years to go for appeal but as usual waited for opportunity to pass the buck.What a government filled with highly stupid and incompetent rogues who think they can force everyone will yield to their foolishness.

37 Likes 4 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by punisha: 5:30pm On Aug 30, 2019
grin


The day a blind man will lead a deaf man to the cripple who ran faster than Usain Bolt will be the day this government should be taken seriously.

24 Likes 2 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by vedaxcool(m): 5:52pm On Aug 30, 2019
[s]
Omooba77:
The attempt by President Muhammadu Buhari to to pin the $9billion British court’s judgement debt on former President, Goodluck Jonathan, has been dismissed by the Process and Industrial Developments Limited (P&ID), the very Irish company, that is in the thick of the entire saga.

P&ID in a clear statement, on Friday, completely absolved the former President of culpability and blamed both Buhari and the Attorney General, Abubakar Malami responsible for the development.

The company, in attempt to set the record straight, P&ID, detailed how the Buhari government, practically slept on the issue and accused Malami particularly of trying to revise history and introduce allegations of contract fraud.

Read the full statement:

Malami’s Revisionist History

It is another day, and with it comes another attempt from the Nigerian Government to create a fictional history of the P&ID case.

This week’s series of desperate conspiracy theories point to something deeper: the Buhari Administration is refusing to admit its own role in the P&ID case from 2015-2019 after it came into office.

Appearing on CNBC Africa, Attorney General Abubakar Malami sought to wipe his hands and the hands of the Buhari Administration clean when he stated, “[t]he government as a unit was delicately involved. And that was the government in 2010, the award was in 2012, and then three years thereafter the current administration under the leadership of Muhammadu Buhari came into place. So the time when this administration came to place in 2015, the award was over three years, there was no appeal, no application for execution, no application to set the award aside.”

Attorney General Malami seems to have a case of amnesia.

Let’s set the record straight:

May 3, 2015: P&ID offers to settle the dispute with the Nigerian Government for $850mm. President Goodluck Jonathan indicates they are handing over the negotiations to the incoming Buhari Administration.

May 29, 2015: Muhammadu Buhari is sworn in as the 15th President of Nigeria, but fails to appoint a cabinet for five months.

July 17, 2015: The Arbitration Tribunal found in favor of P&ID (i.e. – the Liability Award). The new Buhari Administration did not make any attempts at settling or negotiating with P&ID, and did not make any effort to challenge the decision.

November 11, 2015: Attorney General Malami was sworn in November 11, 2015, just under three months after the Liability Award.

May 27, 2016: The Arbitration Tribunal wrote to the Nigeria Government confirming that: “As the parties will be aware from Procedural Order No 12, the Tribunal has decided that the seat of the arbitration is England. It follows that the Federal Court of Nigeria had no jurisdiction to set aside its Award.” Neither Attorney General Malami, nor any representative of the Buhari Administration did anything in response other than continue with the proceedings, thereby tacitly accepting the analysis of the Arbitration Tribunal.

June 24, 2016: Having failed to set aside the Liability Award by falsely claiming the seat of arbitration was in Nigeria; not England, Attorney General Malami wrote personally to the arbitrators to say “my office has taken over the handling of the above arbitration on behalf of the Ministry of Petroleum Resources.” He asked for and obtained an extension of time to file a defence to quantum, and appointed his own legal team in place of the Ministry of Petroleum Resource’s legal team.

August 30-31, 2016: The Quantum Hearing (i.e. – amount of damages payable) takes place in London. Attorney General Malami’s legal team conducted Nigeria’s defence at the quantum hearing. Expert witnesses as to quantum were called to give evidence and were cross-examined.
After the Quantum Hearing, Attorney General Malami instructed his lawyers to request a standstill agreement, which would take effect from the date of the Award.

This fact has never been publicly reported until today.

January 31, 2017: The Arbitral Tribunal issued a final award, ordering Nigeria to pay P&ID $6.5 billion plus $2.3 billion in uncollected interest as of March 2018.

February 17, 2017: The Award on Quantum was delivered to the parties on February 17, 2017. Despite the 60-day standstill having been agreed by P&ID, Attorney General Malami made no attempt to negotiate with P&ID during the 60 days following the handing down of the Quantum Award.

April 28, 2017: After the 60 days had expired, Attorney General Malami instructed his lawyers to write to P&ID’s lawyers and explained that “The delay was occasioned by the bureaucracy of the Federal Government in a bid to determine a reasonable strategy after receipt of the Arbitral award.” The Attorney General’s lawyers added: “we now have the authority of the Vice President of the Federal Republic of Nigeria to meet with the Claimant to negotiate the Terms of the Arbitral award.”

Today: In the lead up to the judgment by the English Commercial Court, Attorney General Malami allowed the time for acknowledging service in both the United States and London to lapse without filing any response. In both jurisdictions, Nigeria’s lawyers Curtis Mallet had to apply for ex post facto extensions of time and make the necessary apologies and explanations to the court.

In London, a senior Curtis Mallet partner explained that the Claim Form was “immediately filed and not passed up the chain of command” at the Ministry of Justice. The partner pleaded that “the delay was neither deliberate nor intended to be disrespectful to the Court.”

In the US, Curtis Mallet explained that the deadline was missed because they were in the process of being formally retained by the Nigerian Government and had been instructed to enquire about the potential for a settlement

The Attorney General’s pronouncements in the Nigerian press are a clear attempt to cover up his own incompetence and that of the Buhari Administration. This is a matter, which could have been settled shortly after he took office in November 2015 for $850 million. Instead, he personally took the decision to gamble on the arbitration and turned an $850 million liability into a $9.6 billion liability.

And at no time since has Attorney General Malami assumed responsibility has he raised any allegation of fraud or scam, either in the arbitration or in the subsequent enforcement proceedings. The reason for this is that there was no fraud. All of this raises serious concerns for foreign investors in Nigeria, whether you are investing in a commercial enterprise or buying Eurobonds. Not only will Nigeria deliberately refuse to pay an international arbitration award backed by an English Court, but they are prepared to launch sham investigations and character assassinations when all else fails.

This is a serious assault on the Rule of Law by a demonstrably dishonest administration.

Meanwhile, P&ID is now focused on vigorously enforcing its legal rights in the UK, including seizing Nigerian assets to satisfy the award. This will begin as soon as possible.

http://thebossnewspapers.com/2019/08/30/buhari-not-jonathan-to-be-blamed-for-9bn-judgement-debt-says-pid/amp/#click=https:///xLzi8x01ob
[/s]

This one will quote the devil if he will blame PMB for falling from grace. PDP supporters will stand with BH just to see Nigeria fail. Bloody losers

16 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Omooba77: 6:02pm On Aug 30, 2019
vedaxcool:
[s][/s]

This one will quote the devil if he will blame PMB for falling from grace. PDP supporters will stand with BH just to see Nigeria fail. Bloody losers

Keep your campaign promises; no one will complain. Katsina is under attack; Abuja -Kaduna road is no go area. Oye koju ko tiyin; face should push you or be ashamed of yourselves

39 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Nobody: 6:14pm On Aug 30, 2019
helinues:
Completely absolved? Why didn't GEJ pay the money when it was $850m?

So they expect a new incoming government still trying to recover the money looted by Pdp goons to start paying debts upon resuming office.

Btw P&ID cant stoop so low in blaming whose responsible or not as long they get their money.

Op is being mischievous as usual

Give the phone back to your mummy.

62 Likes 5 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Racoon(m): 6:14pm On Aug 30, 2019
[s]
vedaxcool:
This one will quote the devil if he will blame PMB for falling from grace. PDP supporters will stand with BH just to see Nigeria fail. Bloody losers
[/s]

18 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Beverlyjean(f): 6:26pm On Aug 30, 2019
Their blame game has finally cost us $9.6 billion

16 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by helinues: 6:26pm On Aug 30, 2019
kmcutez:


Give the phone back to your mummy.

No meaningful or counter arguments?

Just childish reply?

7 Likes 2 Shares

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by Omooba77: 6:30pm On Aug 30, 2019
Beverlyjean:
Their blame game has finally cost us $9.6 billion

Same way Lagos metro line caused us a fortune in 1985

16 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by tsdarkside(m): 6:31pm On Aug 30, 2019
f you....!!

were is the product promised....??

shey una see how this people are....??

jonathanians and buharits should blame each other and forget that the product was not even delivered atall....shey una see now how white people realy are....??

6 Likes 1 Share

Re: Buhari, Not Jonathan To Be Blamed For $9bn Judgement Debt, Says P&ID by mrvitalis(m): 6:34pm On Aug 30, 2019
helinues:
Completely absolved? Why didn't GEJ pay the money when it was $850m?

So they expect a new incoming government still trying to recover the money looted by Pdp goons to start paying debts upon resuming office.

Btw P&ID cant stoop so low in blaming whose responsible or not as long they get their money.

Op is being mischievous as usual
cant u read

21 Likes 1 Share

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