The Nigerian Government has moved closer to overturning the US$9.6 billion judgement debt awarded against it in favour of Process and Industrial Development Limited (P&ID) by a United Kingdom court. The United Kingdom Commercial Court presided over by Justice Butcher on Thursday, November 28, 2019, accepted the application of the Federal Republic of Nigeria in its case against P&ID to vary the condition of the stay of execution of the enforcement order it had earlier granted P&ID.

Investigations carried out in the matter, over the past few weeks, have revealed incidences of fraud, bringing into question both the legitimacy of the Gas Supply and Processing Agreement (GSPA) and the subsequent award itself.

The UK court had on Friday, November 22, 2019, rejected the application of the Federal Government for extension of time to comply with the deposit of $200 million condition but indicated its readiness to accept a “satisfactory bank guarantee” as proposed by the Federal Government towards the end of the hearing on Friday, November 22, 2019. However, on Monday, November 25, 2019, the court, while hearing the application for variation granted an extension of the stay till November 26, 2019, and subsequently to Thursday, November 28, 2019, when it finally varied the condition for stay, pending the hearing of the appeal filed before the UK Court of Appeal by Nigeria against the enforcement of the award based on a fraudulent Gas Supply and Processing Agreement purportedly signed by the Ministry of Petroleum Resources during the tenure of now deceased Rilwanu Lukman and P&ID. The federal government has maintained its decision to challenge the legality and validity of the GSPA both locally and in the UK where it is still contending that Nigeria is the seat of Arbitration.

The federal government had also insisted that no payment to P&ID could be made, as they are under active investigation for fraud and corruption. The court did, however, maintain that its deadlines must be complied with. For this reason, Nigeria proposed a bank guarantee as a variation to the previous order. This was approved by the court.

Read more: https://www.dailytrust.com.ng/uk-court-okays-fgs-plea-on-pids-9-6-claim.html

if the FG put the same effort they put in this P&I'd's matter in solving Nigerias problems, we won't be where we are today.

Look at them scrambling and rushing to court fighting bloody, investigating vigorously. Just watching all these u would know that they have only the urge to take care of their pockets, while zombies and fellow Nigerians languish in poverty.

I still stand by my word that I believe Jah would help me financially and I'll leave this HELLHOLE while zombies would gnash their teeth in regrets.

SarkinYarki Racoon SalamRushDie

But FG also withholds multi millions of dollars in failed bids, how come are we now turned on heat about this one. Shouldn't we also just sulk it up the se way many organizations that lost big time finances in uncompleted deals too?

Sigh of relief

Nigeria is not out of the woods yet.The court knows that it's an international conspiracy hence will mostly likely give an edge to the white imperialists to rip us off given the previous antecedents of judgements delivered by the same court.

Meanwhile, why is the Buhari government and its cabal yet to get Mohammed Barkindo(the GMD NNPC 2010) and other culprits still entrenched in high places under this regime who were implicated in this scandal dock, convicted & punish accordingly?

SimDan95:
if the FG put the same effort they put in this P&I'd's matter in solving Nigerias problems, we won't be where we are today.

Look at them scrambling and rushing to court fighting bloody, investigating vigorously. Just watching all these u would know that they have only the urge to take care of their pockets, while zombies and fellow Nigerians languish in poverty.

I still stand by my word that I believe Jah would help me financially and I'll leave this HELLHOLE while zombies would gnash their teeth in regrets.

Ole ni ee. You be thief. You are the shiit in the shithole that you live. Saboteurs like you are better off as slaves in Libya.

Some corrupt Nigerians colluded with some white pigs to dupe us and you are saying we should let them be. You be thief yourself. A poor petty thief you are.

kunleweb:
SarkinYarki Racoon SalamRushDie

But FG also withholds multi millions of dollars in failed bids, how come are we now turned on heat about this one. Shouldn't we also just sulk it up the se way many organizations that lost big time finances in uncompleted deals too?

Only criminals support criminals, you sound like one.

jahsharon:


Only criminals support criminals, you sound like one.

Where did he support Buhari?

jahsharon:


Only criminals support criminals, you sound like one.

That's why the government is pushing to gag people. You should be ashamed of yourself for such a misguided comment. No wonder your life is bent.

I employ 30 persons BTW, full

jahsharon:


Ole ni ee. You be thief. You are the shiit in the shithole that you live. Saboteurs like you are better off as slaves in Libya.

Some corrupt Nigerians colluded with some white pigs to dupe us and you are saying we should let them be. You be thief yourself. A poor petty thief you are.

stupidity made you leave the actual point my comment portrayed and u now ended up ranting rubbish. When u grow up from ur bigotry u can then quote me reasonably.