$9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Racoon(m): 1:57pm On Oct 10, 2019 |
…appeals $200m security payment
Olalekan Adetayo, Abuja
The Federal Government has paid £250,000 to Process and Industrial Developments Limited as ordered by Justice Christopher Butcher of the Commercial Court in London on Thursday, September 26, The PUNCH has learnt.
The money was ordered to be paid to P&ID as its running cost at the September 26 hearing of the London court.
The government, it was further learnt on Wednesday, appealed against the order of the same court which asked that a $200m security payment be made into its account within 60 days as a condition for a stay of execution of the $9.6bn judgment earlier given in favour of P&ID.
Justice Butcher had at the September 26 proceedings granted Nigeria leave to appeal against the $9.6bn awarded in favour of P&ID over an alleged breach of a gas supply contract tagged Gas Supply Processing Agreement.
In granting the leave, the court had ordered Nigeria to pay the £250,000 cost to P&ID within 14 days.
Our correspondent learnt that Nigeria was able to beat the 14-day ultimatum which elapsed on Thursday (today).
It was gathered that the payment was made through the Central Bank of Nigeria.
The Attorney-General of the Federation, Abubakar Malami (SAN), confirmed the development to our correspondent in a telephone interview on Wednesday.
Malami said although the government had appealed the order to pay $200m into the court’s account and applied for stay of execution, it paid the £250,000 cost out of respect for the court.
The minister said, “You know that there are two sets of money involved. There is the $200m security payment and there is also the £250,000 cost.
“The $200m security payment has not been paid. We have appealed against the order and we have also applied for stay of execution of the order.
“But we have paid the cost, which is £250,000, to P&ID. The Nigerian government paid that cost out of respect for the court.”
The Minister of Information and Culture, Lai Mohammed, had last Wednesday said the government had directed its lawyers to seek the leave of the Court of Appeal to appeal against the ruling of Justice Butcher.
Apart from the $200m, the minister said the government would be able to seek a refund of the £250,000 it was asked to pay to P&ID when the appeal succeeded.
Mohammed argued that contrary to claims by P&ID and “its cohorts”, the government delegation’s trip to London was a successful one.
Describing the delegation’s mission as a huge victory, the minister said the firm had every reason to be worried that the $9.6bn arbitration awarded to it could be overturned.
He said, “The Federal Government has a good chance of being successful in its impending appeal, otherwise the commercial court would not have allowed the appeal.
“Please note that Nigeria will be able to demand a refund of the £250,000 to P&ID when the government wins the appeal. This fact is being hidden by those who have been spinning the London judgment in their own favour.
“On the $200m payment as a condition for the granting of the stay of execution, Nigeria has instructed its lawyers to seek the leave of the Court of Appeal to appeal against that payment.
“Nigerians should be assured that the Federal Government is taking all necessary steps to strongly avail itself of all defences customarily afforded to sovereign states under the United Kingdom Sovereign Immunity Act to fight and upturn any enforcement of the award.
“In the words of Mr President at the 74th session of the UN General Assembly in New York last week, we are giving notice to international criminal groups by the vigorous prosecution of the P&ID scam attempting to cheat Nigeria of billions of dollars.”
The $9.6bn award arose from a dispute concerning the 20-year GSPA between P&ID and Nigeria, through the Ministry of Petroleum Resources.
Under the agreement signed in 2010, P&ID was to build in the Niger Delta region a gas processing plant for the refining of natural gas, also known as “wet gas” into “lean gas” which would be used by Nigeria to generate electricity.
The two parties subsequently approached an arbitration tribunal in London which on January 31, 2017 issued a final award of $6.56bn damages with accumulated interests jacking up the worth of the award to US$9.6bn in favour of P&ID.
P&ID subsequently approached the London court to enforce the final award as a judgment or order of the court. https://www.google.com/amp/s/punchng.com/9-6bn-judgment-fg-pays-250000-cost-to-pid/amp/ 1 Like 1 Share |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Racoon(m): 2:03pm On Oct 10, 2019 |
“But we have paid the cost, which is £250,000, to P&ID. The Nigerian government paid that cost out of respect for the court.”
So the Nigerian government under Buhari can humbly obey court orders even with courtesy? 74 Likes 4 Shares |
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Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by smithes: 2:05pm On Oct 10, 2019 |
Interesting... Court order obeyed. If it was a court in Nigeria, say high court, they won't even move an inch 36 Likes 1 Share |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by iamsonofthunder: 2:05pm On Oct 10, 2019 |
Money that would have gone a long way here is being given out freely due to government disorganization. Visit www.avatecc.com for your consumer products spec and review . 7 Likes 1 Share |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Racoon(m): 2:05pm On Oct 10, 2019 |
See how the stupidity of someone is costing a nation.Now the lawless Nigerian government under Buhari is obeying the London court order without hesitation.What a shameful irony.
Meanwhile, the $9.6bn judgment delivered in favour of the failed P&ID project is still hanging in the background.Always make hay while the sun shines. 22 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Miracle4Sure: 2:05pm On Oct 10, 2019 |
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Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by deepwater(f): 2:06pm On Oct 10, 2019 |
Lol
I think say buhari no dey fear.... Them go seize Abuja house for uk gaskiya nothing go happen 15 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by stzy(m): 2:06pm On Oct 10, 2019 |
What I see is a failed country Period 7 Likes 1 Share |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Nobody: 2:06pm On Oct 10, 2019 |
FG is bleeding central bank seriously. 14 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Nobody: 2:07pm On Oct 10, 2019 |
where is pid's office anywhere in the world or what projects have they done. scammers 6 Likes 1 Share |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Passionate888: 2:07pm On Oct 10, 2019 |
Buhari sef |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Kposkila: 2:08pm On Oct 10, 2019 |
If na abuja court he won't obey. See our oyel money been wasted... 7 Likes 1 Share |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by 0taPiaPia(m): 2:09pm On Oct 10, 2019 |
I hope this doesn't affect minimum wage in any way 1 Like |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by helinues: 2:09pm On Oct 10, 2019 |
£250,000 not bad out of $9.8bn
That's enough |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by deepwater(f): 2:09pm On Oct 10, 2019 |
Tina26: where is pid's office anywhere in the world or what projects have they done. scammers U know say e good make person go school One of their officers in the world 12, Vaal Street, Off Rhine Street, Ministers Hill, Maitama, Abuja It is so very unfortunate that you are from a nation where one man would just come out and call another man thief online in the internet and every one would accept the claim irrespective of what the court says. Today you have only seen the outcome of mingling with the outside world. By the time them finish with Buhari if him hear the world Tribunal him no go wait to see judge self 12 Likes 1 Share |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by fero07(m): 2:10pm On Oct 10, 2019 |
So goes the minimum wage 1 Like |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by peeps4u: 2:10pm On Oct 10, 2019 |
Racoon:
https://www.google.com/amp/s/punchng.com/9-6bn-judgment-fg-pays-250000-cost-to-pid/amp/ “But we have paid the cost, which is £250,000, to P&ID. The Nigerian government paid that cost out of respect for the court.”
LOL, jokers. Do they have choice? If they didn't pay the 250,000 pounds as ordered before the given date by the court, they wouldn't have the chance to appeal the case again and would lose the case finally and had to pay the initial $9bn charge. It is not Nigeria where lawlessness reigns where Buhari and everyone breaks laws and disobeys court orders as they like. 10 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by LastSurvivor11: 2:11pm On Oct 10, 2019 |
I tot they said bubu burukutu will never pay that moneys Funny clown, since we ain’t enjoying anything since you came to power let foreigners take it from you.. 9 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Xisnin(m): 2:12pm On Oct 10, 2019 |
That corrupt judge need to be investigated and removed. Who knows if they have promised him some percentage. 1 Like |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by einsteine(m): 2:13pm On Oct 10, 2019 |
last, last, Nigeria would pay a significant part of the amount. Already, the FG has to pay $200 million within 60 days. 1 Like |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Sunnycliff(m): 2:13pm On Oct 10, 2019 |
All these would have been avoided from the onset of this administration by being proactive. But the dullard didn't feel bordered because no cow was involved in this agreement. 7 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Nobody: 2:14pm On Oct 10, 2019 |
Oyibo fraudsters doing Nigeria govt yahoo, but their own government is supporting them. That's how the game is played internationally.
But inside Nigeria innocent youths are getting gunned down by our policemen in support of the FBI. 3 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by OBAGADAFFI: 2:14pm On Oct 10, 2019 |
I thought the FG was doing shakara before 2 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by einsteine(m): 2:14pm On Oct 10, 2019 |
Xisnin: That corrupt judge need to be investigated and removed. Who knows if they have promised him some percentage. You think it is your Nigerian judge that can be tossed around by the EFCC and SSS? 8 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by wink2015(m): 2:14pm On Oct 10, 2019 |
…appeals $200m security payment
Olalekan Adetayo, Abuja
The Federal Government has paid £250,000 to Process and Industrial Developments Limited as ordered by Justice Christopher Butcher of the Commercial Court in London on Thursday, September 26, The PUNCH has learnt.
The money was ordered to be paid to P&ID as its running cost at the September 26 hearing of the London court.
The government, it was further learnt on Wednesday, appealed against the order of the same court which asked that a $200m security payment be made into its account within 60 days as a condition for a stay of execution of the $9.6bn judgment earlier given in favour of P&ID.
Justice Butcher had at the September 26 proceedings granted Nigeria leave to appeal against the $9.6bn awarded in favour of P&ID over an alleged breach of a gas supply contract tagged Gas Supply Processing Agreement.
In granting the leave, the court had ordered Nigeria to pay the £250,000 cost to P&ID within 14 days.
Our correspondent learnt that Nigeria was able to beat the 14-day ultimatum which elapsed on Thursday (today).
It was gathered that the payment was made through the Central Bank of Nigeria.
The Attorney-General of the Federation, Abubakar Malami (SAN), confirmed the development to our correspondent in a telephone interview on Wednesday.
Malami said although the government had appealed the order to pay $200m into the court’s account and applied for stay of execution, it paid the £250,000 cost out of respect for the court.
The minister said, “You know that there are two sets of money involved. There is the $200m security payment and there is also the £250,000 cost.
“The $200m security payment has not been paid. We have appealed against the order and we have also applied for stay of execution of the order.
“But we have paid the cost, which is £250,000, to P&ID. The Nigerian government paid that cost out of respect for the court.”
The Minister of Information and Culture, Lai Mohammed, had last Wednesday said the government had directed its lawyers to seek the leave of the Court of Appeal to appeal against the ruling of Justice Butcher.
Apart from the $200m, the minister said the government would be able to seek a refund of the £250,000 it was asked to pay to P&ID when the appeal succeeded.
Mohammed argued that contrary to claims by P&ID and “its cohorts”, the government delegation’s trip to London was a successful one.
Describing the delegation’s mission as a huge victory, the minister said the firm had every reason to be worried that the $9.6bn arbitration awarded to it could be overturned.
He said, “The Federal Government has a good chance of being successful in its impending appeal, otherwise the commercial court would not have allowed the appeal.
“Please note that Nigeria will be able to demand a refund of the £250,000 to P&ID when the government wins the appeal. This fact is being hidden by those who have been spinning the London judgment in their own favour.
“On the $200m payment as a condition for the granting of the stay of execution, Nigeria has instructed its lawyers to seek the leave of the Court of Appeal to appeal against that payment.
“Nigerians should be assured that the Federal Government is taking all necessary steps to strongly avail itself of all defences customarily afforded to sovereign states under the United Kingdom Sovereign Immunity Act to fight and upturn any enforcement of the award.
“In the words of Mr President at the 74th session of the UN General Assembly in New York last week, we are giving notice to international criminal groups by the vigorous prosecution of the P&ID scam attempting to cheat Nigeria of billions of dollars.”
The $9.6bn award arose from a dispute concerning the 20-year GSPA between P&ID and Nigeria, through the Ministry of Petroleum Resources.
Under the agreement signed in 2010, P&ID was to build in the Niger Delta region a gas processing plant for the refining of natural gas, also known as “wet gas” into “lean gas” which would be used by Nigeria to generate electricity.
The two parties subsequently approached an arbitration tribunal in London which on January 31, 2017 issued a final award of $6.56bn damages with accumulated interests jacking up the worth of the award to US$9.6bn in favour of P&ID.
P&ID subsequently approached the London court to enforce the final award as a judgment or order of the court.
https://www.google.com/amp/s/punchng.com/9-6bn-judgment-fg-pays-250000-cost-to-pid/amp/ This is the price Nigeria got to pay for the criminal conduct of a former petroleum minister, Late Alhaji Rilwanu Luqman. Meanwhile, the northern cabals are even hiding Mohammed Bakindo from the case. Bakindo need to be charge to court to explain his role in this contract scam. This money can fix a lot of roads in Nigeria for public good now we are obeying court order to pay the money even when the main case has not been looked into. 4 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by chrisxxx(m): 2:14pm On Oct 10, 2019 |
Men! This guys are making cool money by intellectually robbing dumb countries like Nigeria. This is cool cash out. 7 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by MobilityExpress: 2:14pm On Oct 10, 2019 |
So they can respect a foreign UK court, but they cannot respect Nigerian courts? How many valid Nigerian court orders has the Buhari government violated or ignored? I have lost count. Ehhhhh, nawa oh. So Next Level na to dey respect foreign court orders but disrespect Nigerian court orders. Wawu 5 Likes |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by Nobody: 2:16pm On Oct 10, 2019 |
Racoon: So Nigerian government under Buhari can humbly obey court orders even with courtesy? Abi 4 Likes 1 Share |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by martowskin1(m): 2:16pm On Oct 10, 2019 |
1 Like |
Re: $9.6bn Judgment: FG Pays £250,000 Cost To P&ID by jaxxy(m): 2:17pm On Oct 10, 2019 |
They need to learn how to respect court orders now. If not u have urself to blame. They shud replicate this attitude here in Nigeria. 3 Likes |