zegebow:
Jonathan suffered for his negligence during Government.....He had better plans for the country than Baba bubu, Baba is just ruling with no direction....I pity the future of this country....Nigeria which way forward?

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When I check the bolded, I concluded that whoever sent you to advertise for them has sent a crippled agent and enemy of corporate progress. Is this what
"THE AFRICAN YOUTH CONFERENCE 2019" has turned you to?

The same non-chalant and mediocrity attitude will now make Nigeria lose that huge amount of money.

Not like the money would be put to good use anyway as the Nigerian political class will loot it.

Atleast the Irish company will use the money in stimulating Ireland's economy..

grandstar:
The Jonathan administration had actually negotiated the amount to about a $1bn close to the end of that administration but was worried that any payment so late would be considered fraudulent and instead left it to the incoming Buhari administration to effect payment.

This however wasn't paid by the Presidency and has now soured to this.\

I'm sure if a call is made to the company and were offered $1bn and were guaranteed it would be paid ASAP, I'm sure the plaintiffs would accept

From all the comments before yours,you are the only one with sense.

...the rest na just zombies.

gg4real:
They should kuku seize the whole of Nigeria

supported

Taciturn1:
How is it even legal to seize a nations foreign reserve?

The judgement except overturned is very valid. The contract that Rilwan Lukman signed on behalf of Nigeria with the comany gave British courts and arbitration jurisdiction in case of breach of contract agreements or dispute. We signed ourselves into this mess.

And they said we should apologize to GEJ.

Anybody with that view is either a fool or useless for life.

The same way the same government pulled out of several IPP projects with various IOCs to loot whatever money was budgeted for those projects.

$9 billion
Gone because of inept government.

Ipob idìots will come and be singing rubbish about gej.

This country is full of fòols

O dun were �

JamiuKabir:


Eleribu, lo so fun baba ati awon iran e.

May never have a President like GEJ again... That era was Mirage of Prosperity...

The innocent Dr.. Was just a play button

Don't be deceived this is not about Jonathan or Buhari but neocolonialism. We belong to the British and they do to us what they please.

Born2Breed:



From all the comments before yours,you are the only one with sense.

...the rest na just zombies.

$1billion is not a small money for any government to part with without exploring all possible legal options. I wouldn’t have paid if I was also in Buhari’s shoes back in 2015. Again, why did the PDP administration enter into such a terrible contract and then fail to deliver? When the Irish took the FG to arbitration, what effort did Jonathan put in place to resolve the matter? He practically did nothing until $6.6billion was awarded against the country in 2013. He then connived with Dezaini to negotiate about $1billion out of court settlement in a manner that raised so much suspicion that he couldn’t pay the money after the agreement. We really need to learn how to apportion blame appropriately.

Going forward, we should support the government to explore all possible legal options before agreeing to a deal. The company is still very open to a negotiated settlement. Nobody is going to pay them $9billion.

KenOne:
…Deal struck during Ex-President Goodluck Jonathan’s government


British court has ordered an Irish firm, Process and Industrial Developments Ltd (P&ID) to seize 20 per cent in assets, of Nigeria’s foreign reserves, amounting to $9bn (£7.4bn)

Justice Butcher of the British Commercial Court gave the ruling on Friday. The ruling will likely raise concerns among foreign investors. The case dates back to 2010 when Dr. Goodluck Jonathan was Nigeria’s president.

The Nigerian government, under Dr. Jonathan, had struck a deal with the Irish firm to supply gas to a processing plant built and run by P&ID in Calabar.

The agreement was for a 20-year deal. But the Nigerian government failed to keep to her own side of the agreement, prompting the firm to take the case to court.

Meanwhile, in 2013, P&ID won a $6.6bn arbitration case against Nigeria. The figure was calculated based on what the company was estimated to have earned over the course of the 20-year agreement.

But in today’s ruling, the firm said the amount had risen to $9bn following interest accrued so far, reports City A.M. Today’s decision means that the arbitration is converted into a legal judgement, allowing P&ID to attempt a seizure of the assets.

Andrew Stafford QC, P&ID’s lawyer, said: “We are pleased that the Court has rejected Nigeria’s objections both to the arbitration process and to the amount of the award, and that it will grant permission to P&ID to begin enforcement of the award in the United Kingdom.

He added “P&ID is committed to vigorously enforcing its rights, and we intend to begin the process of seizing Nigerian assets in order to satisfy this award as soon as possible.

https://www.vanguardngr.com/2019/08/breaking-british-court-orders-irish-firm-to-seize-9b-nigerias-foreign-reserves/

Next level propaganda...

seunmohmoh:
Who we offend?

The gods.

Laz laz we go sell the country...

this people must be jokin....

dem no serious atall....

where is the product sef....??

the last i checked electricity is still not better....

you nigerians must be crazy if una give them that kind of money without results....

20years ago....

chai....

wetin them wan seize sef....??

embassis....??

hey,i have a idea...:
let them size assets of looters they are habourin their....

nonesense....

Our Shiite Blodas would now blame Buhari for this - even though na Jonthan cause am.

Which is better a clueless president plunging the nation into avoidable debt or a vigourless president

thats why its better to have your stuff in gold or silver and keep it at home....

i dont know how you can trust your stuffs to your enemy....

una didnt see this coming,kwa....??

this deal was from 20years ago and na just today we dey hear about it....

shey una see una gullibility now....??

obailala:
1 firm wants to take $9billion from Nigeria? As compensation for no service rendered? Such clowns!

My brother spot on!! I thought I was the only one that noticed. It's true that the FG entered into an agreement with the said company to supply gas to Calabar IPP and other industries but they didn't do anything significant. Instead it was seven energy that took up the gauntlet to build a gas processing plant in Akwa-Ibom fill up the void P&ID couldn't do

British court no judge am well at all,they for judge am say make them seize the whole county join, so that we go get better infrastructures and better sence to maintain am,when all our rulers no sabi wetin them dey do since 1960.

shaggy007:
We dey lose money wey we no get

bros..you follow get the money? ayam confused

ralimfa:

bros..you follow get the money?
ayam confused

The topic says "Nigeria's" foreign reserve

Last time I checked, I'm a Nigerian.

shaggy007:


The topic says "Nigeria's" foreign reserve

Last time I checked, I'm a Nigerian.

lol
nigerian indeed
as if there's any way you benefit from the government
na your type go wan enter there form pastor when your colleagues dy collect their shares
I no mean any insult o
abeg
before you use english finish me

seunmsg:


The judgement except overturned is very valid. The contract that Rilwan Lukman signed on behalf of Nigeria with the comany gave British courts and arbitration jurisdiction in case of breach of contract agreements or dispute. We signed ourselves into this mess.

Oh, we actually signed ourselves into this tight corner.
It's a really deadful mess. I hope we appeal the decision or something. With all our current debts this is a terrible addition.

Make Dem kuku ma sell this country and share the proceeds to all Nigerians so that nobody will complain again.

KenOne:
…Deal struck during Ex-President Goodluck Jonathan’s government


British court has ordered an Irish firm, Process and Industrial Developments Ltd (P&ID) to seize 20 per cent in assets, of Nigeria’s foreign reserves, amounting to $9bn (£7.4bn)

Justice Butcher of the British Commercial Court gave the ruling on Friday. The ruling will likely raise concerns among foreign investors. The case dates back to 2010 when Dr. Goodluck Jonathan was Nigeria’s president.

The Nigerian government, under Dr. Jonathan, had struck a deal with the Irish firm to supply gas to a processing plant built and run by P&ID in Calabar.

The agreement was for a 20-year deal. But the Nigerian government failed to keep to her own side of the agreement, prompting the firm to take the case to court.

Meanwhile, in 2013, P&ID won a $6.6bn arbitration case against Nigeria. The figure was calculated based on what the company was estimated to have earned over the course of the 20-year agreement.

But in today’s ruling, the firm said the amount had risen to $9bn following interest accrued so far, reports City A.M. Today’s decision means that the arbitration is converted into a legal judgement, allowing P&ID to attempt a seizure of the assets.

Andrew Stafford QC, P&ID’s lawyer, said: “We are pleased that the Court has rejected Nigeria’s objections both to the arbitration process and to the amount of the award, and that it will grant permission to P&ID to begin enforcement of the award in the United Kingdom.

He added “P&ID is committed to vigorously enforcing its rights, and we intend to begin the process of seizing Nigerian assets in order to satisfy this award as soon as possible.

https://www.vanguardngr.com/2019/08/breaking-british-court-orders-irish-firm-to-seize-9b-nigerias-foreign-reserves/

How can this thick-lipped hat wearing drunk do this to us,his assets shld b sold to pay d debt.

obembet:
Jonathan is criminal but buhari is a terrorist

and you are a nobody

winterfell007:

My brother spot on!! I thought I was the only one that noticed. It's true that the FG entered into an agreement with the said company to supply gas to Calabar IPP and other industries but they didn't do anything significant. Instead it was seven energy that took up the gauntlet to build a gas processing plant in Akwa-Ibom fill up the void P&ID couldn't do

they made some deposits worth billions of dollars which the Nigerian government was to use in carrying out the investment. this money quoted also includes there deposit plus interest

seunmsg:


The judgement except overturned is very valid. The contract that Rilwan Lukman signed on behalf of Nigeria with the comany gave British courts and arbitration jurisdiction in case of breach of contract agreements or dispute. We signed ourselves into this mess.

That signature has led to serious consequences... I wonder why our political leaders always leave us holding the short end of the stick...

Hmmm

Yet they want to get Nigeria working again!!! How??