A British lawyer representing Nigeria, in a London court case in which $11 billion are at stake, said on Friday the trial would reveal corruption ‘on an industrial scale,’ not only of Nigerian officials but also of British lawyers.

The case stems from a contract for a gas project awarded by Nigeria in 2010 to a company called Process and Industrial Developments Limited (P&ID). The gas processing facility never materialised, for reasons that are disputed.

After years of legal wrangling, a London-based arbitration tribunal said in 2017 that Nigeria had not fulfilled its side of the contract and should pay P&ID $6.6 billion in compensation. With interest, the award is now worth $11 billion.

That sum represents close to 30% of Nigeria’s foreign exchange reserves, which stood at $37 billion at the end of November.

Nigeria has gone to court in London arguing that P&ID obtained the original contract through bribery and used the arbitration proceedings as a means of extorting a huge sum of money from Nigerian public coffers.

P&ID denies this and says Nigeria is trying to get out of paying what it owes.

An eight-week trial is due to start in January at the High Court in London, with witnesses appearing in person as well as remotely from Ireland and from Nigeria.

At a pre-trial review on Friday, lawyer Mark Howard, representing Nigeria, told the court that evidence of “widespread corruption and bribery on an industrial scale” would be put forward.

“Our case is it was bribery to get the contract, ongoing bribery to keep everyone on board, bribery of lawyers,” he said, alleging that two London-based British lawyers previously involved in the case had committed “serious misconduct.”

P&ID was originally established by two Irish nationals. Ownership of the firm has since passed to two Cayman Islands-based entities.

dre11:

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https://leadership.ng/11bn-trial-in-london-court-to-reveal-monumental-corruption-in-nigeria/


Nlfpmod

seunmsg:
The ghost of the PDP era corruption is still hovering over the country. Still, some people want to bring back PDP to continue this kind of criminal and mindless robbery of the country. Smh!

P&ID was originally established by two Irish nationals. Ownership of the firm has since passed to two Cayman Islands-based entities.

SadiqBabaSani:
Your Kids will feek shame if they know this is how their father think

ValCon888:



Cayman Islands is known for hiding corrupt monies. A tax haven for the fraudulent.

Don't be surprised this company is a front for highly placed corrupt politicians in Nigeria.

seunmsg:


You don’t have to go too far. The company was established by two Irish guys and a Nigerian partner named Gen. TY Danjuma. And the fraudulent contract was awarded by the PDP administration of Yaradua and Goodluck Jonathan.

seunmsg:


Here we go again. They will leave the substance of the matter and be chasing shadows. Are your kids happy that you’re defending a party that awarded a fraudulent contract with the intention of scamming your country over $11billion?

A British lawyer representing Nigeria, in a London court case in which $11 billion are at stake, said on Friday the trial would reveal corruption ‘on an industrial scale,’ not only of Nigerian officials but also of British lawyers.

The case stems from a contract for a gas project awarded by Nigeria in 2010 to a company called Process and Industrial Developments Limited (P&ID). The gas processing facility never materialised, for reasons that are disputed.

The case stems from a contract for a gas project awarded by Nigeria in 2010 to a company called Process and Industrial Developments Limited (P&ID). The gas processing facility never materialised, for reasons that are disputed.

Thooramm:
11bn damn it

seunmsg:
The ghost of the PDP era corruption is still hovering over the country. Still, some people want to bring back PDP to continue this kind of criminal and mindless robbery of the country. Smh!

seunmsg:
The ghost of the PDP era corruption is still hovering over the country. Still, some people want to bring back PDP to continue this kind of criminal and mindless robbery of the country. Smh!

post=118900849:
Corruption

Authoreety:

Ur darling daddy is the chief