to me, let the government make a deal with the officials who signed the contract, since the contract looks phony, elements of corruption and bribery has a high chance of being inside, if u can prove the PID bribed anybody at all during the contract not only do u get amnesty whether u were part of the bribed officials, u would also get compensated with 500thousands dollars.

Simple.


If the government can prove that the contract is filled with corruption and did not follow due process they stand a chance here

Iamgrey5:
Jonathan agreed to pay because his administration broke the agreement.

Someone in the Yaradua's administration signed the agreementts and Jonathan's administration broke the agreement.

However, a delicate review of the whole thing would reveal that there's an element of criminality in the whole thing

What has the company invested in Nigeria to warrant any payments at all?

How can someone be making dubious calculations on estimated profits?

You are confusing yourself too much.
Agreement with element of criminality was broken. Do you have any reference for this?
Please read up on similar arbitration.

But state asset seizures “happen all the time”, said James Langley, a partner with international law firm Dentons and an expert in arbitration.

In a 2008 case against Chad, a UK judge ruled that proceeds of oil sales held for the purpose of making repayments to the World Bank qualified as commercial assets.

And in 2018, a U.S. judge cleared the way for a Canadian mining firm to target shares in a U.S. oil refinery owned by state oil company Petroleos de Venezuela SA (PDVSA) over an arbitration debt owed by Venezuela.
.
.
.

IS $9 BILLION AN UNUSUALLY LARGE AWARD?

Arbitration awards in the billions are not uncommon. Langley said the method used to determine the figure, based on expected earnings over the life of the contract, was standard for commercial arbitration.

A co-founder of P&ID testified during the arbitration that the company spent $40 million before the project failed, but Langley said the sum was not necessarily relevant.

The award, Langley said, is “just a function of the kind of contract this was”, reflecting potentially large profits.

https://www.reuters.com/article/us-nigeria-arbitration-explainer/explainer-nigerian-assets-at-risk-worldwide-in-9-billion-arbitration-case-idUSKCN1VJ1W8

Wickedfacts:


In addition, Abacha threatened to make french language Nigeria's second official language and the British were forced to comply.

U guys are funny sha....
The heavy sanction imposed on nigeria during abacha atrocious regime led to total wipe out of the middle class.....
Nigeria economy crumbled, industries collapsed and people really suffered....

Now u daring them to sanction again....
Comparing yourself to Iran.....
Iran has been under western sanction since time immemorial.....
Their oil and financial industry have been under western embargo for decades now, yet the industries are waxing strong....
Iran produce 60% of their industrial equipment including turbines, pumps, oil tankers and refineries.....
They produce drones and counter-drones....
Iran has what it takes to resist western bullies and survive sanction because it's leaders think Iran first.....

Unlike your useless n hopeless leaders.....
Ordinary America refusing to buy your oil, the whole nation was weeping.....
And Nigerians that can't do without the dollar...anytime there's dollar scarcity, Nigerians develop intractable seizures......
Try behave foolish n incur western wrath....
Thank God crazy guys like trump n Boris are the ones in charge now.....
Indomie kids that don't know how to suffer wants to challenge western authority....

Mcreloaded:
Iranian oil tanker was seized and Iran seized British ship also and in the end the Iranian oil tanker has been released.
Tit for tat.
Lets see if it will work in this case.

If push comes to shove Iran has military capability almost equal to Britain, can we say that for Nigeria? Diplomacy is the way out, else more foreign investors will get scared about doing business here.

Flyingngel:
Let us for once forget about APC and PDP government and look at the Nigerian politicians who out of greed decided to mortgage the well being of about 200million people to and outside.
If Buhari is serious abt fighting corruption, all those involved in this shady deal shld as at today be looking behind bar.
Haba! Some Nigerians are something else

Including Buhari and Malami afterall GEJ negotiated a settlement that would have cost Nigeria around $800 million, but our current illiterates have shown the value of their sharia education and WASC-less certification.

Just because they want the north to rule, they have heaped a hefty $9.6 billion on Nigerians, thus condemning Nigerians and future generations to servitude to the west. Exactly the same role Sardauna was playing with the English, the foolish nigga that will keep the country forever attached to the apron strings of the UK

60% of the fault in this issue lies with Buhari and Malami
0% of the fault lies with Jonathan
40% lies with Aoondoaka, Rilwanu Lukman, Yar'Adua, Bandorki(sp)

anonimi:


You are confusing yourself too much.
Agreement with element of criminality was broken. Do you have any reference for this?
Please read up on similar arbitration.

Bro no offense, but are you sure you are vast in the knowledge of economics or business related subjects like you are trying to portray.

You gave instances of Debts and liabilities due to private companies and also gave instances between two companies, although of different nationalities.

None of the instances have anything to do with estimated lost of estimated earnings.

Nonetheless, this ridiculous claims by PiGD or whatever is based on estimated earnings Despite the fact that they have not invested in any physical infrastructure or anything significant to warrant such claims

Do you understand !

Validated:
Buhari and APC are the cause of Nigeria s ulta poverty status. All this story means nothingness other than begging the issue. Truth is that Buhari, Osinbajo and Malami caused this. GEJ already intervened and struck a $850 million settlement. All Buhari was expected to do was pay. Rather because he trusts noone, he chose the court action. Now it has backfired. In legal parlance there is what is called plea bargaining. When you realise that you do not have a good case, you opt for plea bargaining, e.g plead guilty for lesser sentencing, rather than allow full trial that may result in heavy penalty. FG under GEJ took this option, but our "oversabi" APC leadrrs, thought otherwise. Now they are looking for who to blame. I have read some funny comments like, "sieze British and Irish assets". With our fledgling economy, you want to try nonesence agsinst the Brentwood and IMF connection? Your dream must be very BIG! Can Nigeria withstand two weeks sanctions on our oil? Even now, we are merely a surviving economy.
My suggestion is that APC should swallow their pride. Go on their knees to P$ID and beg. The Bible, in Luke 12 verses 58 & 59 says "When you go with your adversary to the magistrate, make every effort along the way to settle with him, lest he drag you to the judge, the judge deliver you to the officer, and the officer throw you into prison.I tell you, you shall not depart from there till you have paid the very last mite.” The FG has alowed Nigeria to be dragged to the court and now every Nigerian is at risk. I cannot just imagine the disastrous impact this would have on our economy. If this had happened in a country like Japan, all those who contributed to this disaster would be honoured with suicide. But here we are with Malsmi, Osinbajo, Buhari and even EFCC looking for who to blame for their disastrous outing.

wasted

When a court makes a ruling and you don't agree.... isn't appeal the next step? Why jump to warning about seizing assets? That's very foolish. UK seized Iran's ship... did Iran announce their plan to retaliate? Bonga and others would now set plan in place to curtail operations in Nigeria and their government would not move to seize Nigeria's assets until next to nothing is left for Nigeria to seize in retaliation.
If the deal was not legal... why not challenge its validity in court? If there was forgery and unauthorized signatures... why not arrest and interrogate those involved? Are they immune from investigations and prosecution? These people aren't serious..... UK is in a financial jam with Brexit and would go any length to raise revenue.... in this case... either seizing assets or a settlement to have free access to $9B worth of Nigeria's natural resources . Just saying.

ijustdey:



....EFCC opened investigations into failed project 2015

.....Report shows how P&ID repudiated $600m settlement deal





https://www.thisdaylive.com/index.php/2019/09/02/presidency-hawks-want-fg-to-seize-bonga-over-9-6bn-judgment-debt/

Sieze oil wells belonging to the British n watch dem go to court gain and get more billions from the Nigerian government

My own is that Bahari himself don't even know what this is all about.

Iamgrey5:
Who told you this ?


Our foreign reserve is in dollars not pounds or Euros

And Buhari can look elsewhere for his medical treatment.

Nigeria has more than enough capacity to remind the British that it's a sovereign nation.

So, on what grounds would Nigeria seize the Assets of Great Britain and not expect the International Community to come for her?

Besides, I thought Shell is a Royal Dutch company, headquartered in the Hague, The Netherlands.
Why would the FG seize Shell's Bonga FPSO?

[quote author=alizma post=81838432]
This is something that can affect you and the entire nation but it is too long for you to read. Probably it was too long for those who entered into the shady deal, hence they just signed without reading.
If it is too long for you(Nigerian youths) to read, why should we blame our elders who probably couldn't take their time to put things in order but just signed half baked contract?[/quote LOL me think lazy Nigeria youth mentality LOL

And who told u that he understood what he wrote

FarahAideed:


Where and when did this useless govt try to negotiate ? Abi is it another story you are referring to?

Ecne:


So, on what grounds would Nigeria seize the Assets of Great Britain and not expect the International Community to come for her?

Besides, I thought Shell is a Royal Dutch company, headquartered in the Hague, The Netherlands.
Why would the FG seize Shell's Bonga FPSO?

Bro you obviously new to this

Nigeria as Sovereign nation can decide to nationalise any company that operates within its borders for one flimsy excuse or the other.


Nigeria will claim it has nothing to do with case, but even the blind would know it has everything to do with the case.


Nationalising an oil company is always the easiest because government already has a substantial stake in the company.

The international community would do nothing, but it might affect Nigeria on the long run as other foreign investors would or might start pulling out of Nigeria for fear of suffering thesame fate.

Royal Dutch shell might be a Netherland company, but the operation at bonga has a very high level of interest of British in it.

ivandragon:
The deal was shrouded in fradulent secrecy from the get-go.

However, except the government can conclusively prove that the signatories on the Nigerian side were unauthorized/forged, it's going to be hard to escape some form of settlement.

Furthermore, the P&DI is backed by hedge-fund managers, the FG needs to identify who they are & open back channel negotiations with them.

Exactly, this is the time to open back door channels and use diplomacy as an option. Hire the best lobbyist and consultants not charlatans to negotiate a favorably settlement should be done. Identifying loopholes in the transaction and use of subtle threat should also been exploited.

Finally, Osinbajo should never be allowed close to all this process, I’m very sure he was an integral part of those that messed up the previous negotiation.

Please if it is possible for them to come and do the job better for us than paying that sum of money.

Okay

Validated:
Buhari and APC are the cause of Nigeria s ulta poverty status. All this story means nothingness other than begging the issue. Truth is that Buhari, Osinbajo and Malami caused this. GEJ already intervened and struck a $850 million settlement. All Buhari was expected to do was pay. Rather because he trusts noone, he chose the court action. Now it has backfired. In legal parlance there is what is called plea bargaining. When you realise that you do not have a good case, you opt for plea bargaining, e.g plead guilty for lesser sentencing, rather than allow full trial that may result in heavy penalty. FG under GEJ took this option, but our "oversabi" APC leadrrs, thought otherwise. Now they are looking for who to blame. I have read some funny comments like, "sieze British and Irish assets". With our fledgling economy, you want to try nonesence agsinst the Brentwood and IMF connection? Your dream must be very BIG! Can Nigeria withstand two weeks sanctions on our oil? Even now, we are merely a surviving economy.
My suggestion is that APC should swallow their pride. Go on their knees to P$ID and beg. The Bible, in Luke 12 verses 58 & 59 says "When you go with your adversary to the magistrate, make every effort along the way to settle with him, lest he drag you to the judge, the judge deliver you to the officer, and the officer throw you into prison.I tell you, you shall not depart from there till you have paid the very last mite.” The FG has alowed Nigeria to be dragged to the court and now every Nigerian is at risk. I cannot just imagine the disastrous impact this would have on our economy. If this had happened in a country like Japan, all those who contributed to this disaster would be honoured with suicide. But here we are with Malsmi, Osinbajo, Buhari and even EFCC looking for who to blame for their disastrous outing.

Listen to your dumb self. So, Buhari should have blindly paid. Alainironu.

Iamgrey5:
Bro you obviously new to this

Nigeria as Sovereign nation can decide to nationalise any company that operates within its borders for one flimsy excuse or the other.


Nigeria will claim it has nothing to do with case, but even the blind would know it has everything to do with the case.


Nationalising an oil company is always the easiest because government already has a substantial stake in the company.

The international community would do nothing, but it might affect Nigeria on the long run as other foreign investors would or might start pulling out of Nigeria for fear of suffering thesame fate.

Royal Dutch shell might be a Netherland company, but the operation at bonga has a very high level of interest of British in it.

Nationalisation policy is about forcing a foreign company to sell shares to local citizens so that they can become major shareholders in the company....
Nigeria already did that with shell nigeria and other multinationals operating in nigeria....
Nothing to nationalize again....
Forcibly taking over operations of a foreign company in your territory is robbery and the consequence is international sanction n seizure of the country's foreign assets....
Ask Cuba....

Nigerian government should stop arresting yahoo boys for stealing from these whites when they themselves steal billions and intend to steal more from us daily.. this is daylight robbery enabled by the British courts...

The Nigerians involved in the signing of the deal should be arrested. A contract that was never signed by Yaradua is not a sealed contract. They are the ones that should pay and not the FG. Why are their names not even mentioned. I am sure most of them are still in government.

SIRTee15:


Nationalisation policy is about forcing a foreign company to sell shares to local citizens so that they can become major shareholders in the company....
Nigeria already did that with shell nigeria and other multinationals operating in nigeria....
Nothing to nationalize again....
Forcibly taking over operations of a foreign company in your territory is robbery and the consequence is international sanction n seizure of the country's foreign assets....
Ask Cuba....

Nationalisation is the transfer of a major branch of industry or commerce from private to state ownership or control.

Hope you understand what Nationalization is ?

A company cannot have private ownership and still claim it has been Nationalized persay.

What we have in oil company today is a form of PPP, but that can quickly Change if government wants to.

What happened in Cuba is completely different, Cuba strated Communism which meant all companies were forced to belong to state.

Only the oil company will be Nationalized here

Validated:
Buhari and APC are the cause of Nigeria s ulta poverty status. All this story means nothingness other than begging the issue. Truth is that Buhari, Osinbajo and Malami caused this. GEJ already intervened and struck a $850 million settlement. All Buhari was expected to do was pay. Rather because he trusts noone, he chose the court action. Now it has backfired. In legal parlance there is what is called plea bargaining. When you realise that you do not have a good case, you opt for plea bargaining, e.g plead guilty for lesser sentencing, rather than allow full trial that may result in heavy penalty. FG under GEJ took this option, but our "oversabi" APC leadrrs, thought otherwise. Now they are looking for who to blame. I have read some funny comments like, "sieze British and Irish assets". With our fledgling economy, you want to try nonesence agsinst the Brentwood and IMF connection? Your dream must be very BIG! Can Nigeria withstand two weeks sanctions on our oil? Even now, we are merely a surviving economy.
My suggestion is that APC should swallow their pride. Go on their knees to P$ID and beg. The Bible, in Luke 12 verses 58 & 59 says "When you go with your adversary to the magistrate, make every effort along the way to settle with him, lest he drag you to the judge, the judge deliver you to the officer, and the officer throw you into prison.I tell you, you shall not depart from there till you have paid the very last mite.” The FG has alowed Nigeria to be dragged to the court and now every Nigerian is at risk. I cannot just imagine the disastrous impact this would have on our economy. If this had happened in a country like Japan, all those who contributed to this disaster would be honoured with suicide. But here we are with Malsmi, Osinbajo, Buhari and even EFCC looking for who to blame for their disastrous outing.

Your hatred for PMB and Osinbajo will never allow you to say the true picture of things but to make you Condemn him and his government at every point you have the opportunity to say something.

Realdeals:


Nigeria do not have capacity to do that, the bulk of the country foreign reserve is lodged in UK banks. Besides, Buhari health still depends on UK hospitals.

that's why we keep warning our leaders, lack of standard hospitals now you depend on them on almost everything.
African leaders think.

Loving naija fighting spirit

And the Oyinbos are arresting and showcasing 80 disgruntled elements who swindled them of their resources why they kept quiet of their conspiratorial involvement in defrauding Nigeria.. We need brilliant lawyers to put the heat on their bottom. American granted 24 hours amnesty to Atiku just to allow him win election so that they can continue business as usual.. Stupid brainless people taking us a mumu .

Validated:
Buhari and APC are the cause of Nigeria s ulta poverty status. All this story means nothingness other than begging the issue. Truth is that Buhari, Osinbajo and Malami caused this. GEJ already intervened and struck a $850 million settlement. All Buhari was expected to do was pay. Rather because he trusts noone, he chose the court action. Now it has backfired. In legal parlance there is what is called plea bargaining. When you realise that you do not have a good case, you opt for plea bargaining, e.g plead guilty for lesser sentencing, rather than allow full trial that may result in heavy penalty. FG under GEJ took this option, but our "oversabi" APC leadrrs, thought otherwise. Now they are looking for who to blame. I have read some funny comments like, "sieze British and Irish assets". With our fledgling economy, you want to try nonesence agsinst the Brentwood and IMF connection? Your dream must be very BIG! Can Nigeria withstand two weeks sanctions on our oil? Even now, we are merely a surviving economy.
My suggestion is that APC should swallow their pride. Go on their knees to P$ID and beg. The Bible, in Luke 12 verses 58 & 59 says "When you go with your adversary to the magistrate, make every effort along the way to settle with him, lest he drag you to the judge, the judge deliver you to the officer, and the officer throw you into prison.I tell you, you shall not depart from there till you have paid the very last mite.” The FG has alowed Nigeria to be dragged to the court and now every Nigerian is at risk. I cannot just imagine the disastrous impact this would have on our economy. If this had happened in a country like Japan, all those who contributed to this disaster would be honoured with suicide. But here we are with Malsmi, Osinbajo, Buhari and even EFCC looking for who to blame for their disastrous outing.

If this had happened in a country like Japan, all those who contributed to this disaster would be honoured with suicide.



Jokes aside, yours is the most sensible comment on this thing.
To think this amount is asides the billions which APC and Buhari have taken out as loan from various institutions and countries. Nigeria's future generation will be saddled with so much debt just because the South Western and Northern section of the country hated a man they saw as a minority.

Goodness me.

Seizing Irish and British assets? Hahahahahahahah! Buhari, Tinubu, Abba Kyari and the rest of them are drunk with codeine. Try and nationalise their assets.What is happening in Venezuela will be a child's play.

Iamgrey5:
Who told you this ?


Our foreign reserve is in dollars not pounds or Euros

And Buhari can look elsewhere for his medical treatment.

Nigeria has more than enough capacity to remind the British that it's a sovereign nation.

What a daft response from an illogical youth.
Irish company can enter a Mareva Injunction in the UK and US to seize all Naija assets. Google Mareva Injuction.
Also, NNPC’s and CBN’s accounts are domiciled in the US— mostly managed by JP Morgan Chase Bank Inc.. these accounts can be frozen by a valid court order.
Also check out the principle of reciprocity between US and UK in intl business law. Any verdict obtained in the UK can be enforced in the US.. that’s why FG retained lawyers in both countries

anonimi:


You are confusing yourself too much.
Agreement with element of criminality was broken. Do you have any reference for this?
Please read up on similar arbitration.

I would ask you a question, if you were to be in charge of affairs will you have paid the sum?
Looking at the diff cases you listed above, it's obvious that
an avenue like this is used to siphon money from developing countries by dubious organisations. And such instances are with connivance of indigenes of such countries.
I won't be shocked if it's revealed that some Nigerians are the ones behind P&ID....
Should in case the FG subsequently pays, those who signed the agreement should be made to pay for this dastard act.

marv1:

Your hatred for PMB and Osinbajo will never allow you to say the true picture of things but to make you Condemn him and his government at every point you have the opportunity to say something.

You have come with this emotional trash.

Buhari and Osinbajo both HATE Nigeria. I am sure you know this. Hence this unnecessary $9.5bn new debt.
They know they won't pay it. So in their abject hate of Nigerians, they've saddled it on the current and future generation.