FOOTNOTES
– The Nigerian government appears finally to have got its act together. It is fighting back, hard, in the $9.6 billion battle against Irish-run Petroleum and Industrial Development (P&ID), which recently won the huge judgment against it in a UK arbitration court over a failed 2010 Nigerian public-private gas deal. The huge award shocked the country’s citizens, politicians, lenders and most observers.

Theoretically, the judgment gives P&ID the right to seize Nigerian assets abroad.

On Thursday, Nigeria won leave in a London court to appeal the judgment, although the stay on the implementation of the order is what the African state really needed to get a foothold in the row, which potentially threatens a fifth of its foreign reserves. As it stands, the government will have to pay $200 million to the British court within 60 days to secure the continuing stay.

The US hedge fund-backed P&ID’s Irish links are now coming under serious pressure. Nigerian investigators looking into the original deal have detained Lagos-based Irishman James Nolan, a close business associate of one of the founders of P&ID, the late showbands manager and Dublin businessman Mick Quinn.

Nolan has not been charged with any crime, but his detention will put pressure on the people around P&ID. It also puts pressure on the Irish Government, which will obviously have to provide him with consular assistance but which is understandably wary about being dragged into the row with Africa’s largest economy.

Nigeria has also claimed it will seek the extradition of the other Irish P&ID co-founder, Brendan Cahill, and Mr Quinn’s son, Adam, although it is not clear what the grounds for this would be.

Nigeria is also seeking access to bank records held by State-controlled bank AIB, which it wants to view as part of its investigation into the original 2010 gas deal, which fell apart, leading to the arbitration award.

P&ID indicated this week that it is ready “in good faith” to enter settlement talks: “If the Nigerian government is serious about a willingness to negotiate, we are ready.”

That seems like a sensible plan all round.

https://www.irishtimes.com/business/transport-and-tourism/blocking-new-hotels-in-dublin-is-economic-vandalism-1.4031509

The FG deserve our support to defeat this guys.
The The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has done well son so far ,but more action needed for him to have his name among the patriot of Nigeria.Well done Sir.

Saboteurs won't like this analysis.