₦airaland Forum

$9.6 Billion Judgment and New Discoveries

The Federal Government through EFCC just discovered P&ID do not have the profile: Operations, activities etc to secure the approved contract.
Late President Yar’Adua couldn’t have signed the contract in 2010 because he left Nigeria in November 2009.
Vice President Jonathan wasn’t acting president because of certain forces preventing that from happening, hence, he also couldn’t have signed or approved the contract.
P&ID office address at No. 12 Vaal Street, Maitama, Abuja has no single trace of the company and currently being occupied by a law firm.
Two Nigerians, Adamu Usman and Jadesola Awoyinfa, and three foreigners, Brenda Cahil; Michael Quinn and Neil Hitchcock are the directors of the company.
P&ID directors suddenly pulled out of an agreed meeting with EFCC last week without a valid reason.
Investors King Analysis of the Situation

P&ID couldn’t have secured the contract legally given the company’s profile and situation of things in Nigeria as at the time when President Yar’Adua was sick.

The Federal Government suddenly realised behind every approved contract in Nigeria there is money exchanging hands, especially when the company is largely unknown like P&ID.

In fact, this was obvious with the company’s failure to compel Nigeria to pay $6.6 billion initially awarded against the Federal Government in 2017.

Realising it doesn’t have the necessary tools to enforce the 2017 judgment, P&ID sold the idea to a hedge fund company, VR Capital Group.

VR Capital acquired a 25 percent stake in the company in March 2019 and immediately deploy all its legal resources to force Nigeria to the negotiating table.

The question is why fighting to get the Federal Government to the negotiating table when a legal court has awarded $9.6 billion and you’ve instructed your lawyers to start identifying Nigeria’s assets overseas?

The truth is the company and the VR Capital just want to exploit the poorly structured Nigerian system and cash out an ‘appropriate amount’ for their efforts.

It should be noted that hedge funds like Paulson & Co., Elliott Management, Pershing Square Capital Management and other asset management companies have taken stakes in embattled companies in the past and used their resources like VR Capital Group and P&ID are currently during to force the Nigerian government (their victims) to negotiate or risk an economic catastrophe.

However, the issue here is slightly different as the contract was likely secured through some illegal means given the aforementioned reasons and with the government now in the know, it is just a matter of time before the invited Nigerians on the board of the company start talking or abandon the case and disappear into thin air.

Following new EFCC discoveries, the Federal Government has now called off any negotiation with P&ID and will likely commence arrest of the people behind the contract this week.
https://investorsking.com/9-6-billion-judgment-and-new-discoveries/

A briefcase company registered in the tax haven the British Virgin Islands shaking down a soverign nation because they managed to find Judases who sold their country away

ChiefkeefGB4:
$9.6 Billion Judgment and New Discoveries

The Federal Government through EFCC just discovered P&ID do not have the profile: Operations, activities etc to secure the approved contract.
Late President Yar’Adua couldn’t have signed the contract in 2010 because he left Nigeria in November 2009.
Vice President Jonathan wasn’t acting president because of certain forces preventing that from happening, hence, he also couldn’t have signed or approved the contract.
P&ID office address at No. 12 Vaal Street, Maitama, Abuja has no single trace of the company and currently being occupied by a law firm.
Two Nigerians, Adamu Usman and Jadesola Awoyinfa, and three foreigners, Brenda Cahil; Michael Quinn and Neil Hitchcock are the directors of the company.
P&ID directors suddenly pulled out of an agreed meeting with EFCC last week without a valid reason.
Investors King Analysis of the Situation

P&ID couldn’t have secured the contract legally given the company’s profile and situation of things in Nigeria as at the time when President Yar’Adua was sick.

The Federal Government suddenly realised behind every approved contract in Nigeria there is money exchanging hands, especially when the company is largely unknown like P&ID.

In fact, this was obvious with the company’s failure to compel Nigeria to pay $6.6 billion initially awarded against the Federal Government in 2017.

Realising it doesn’t have the necessary tools to enforce the 2017 judgment, P&ID sold the idea to a hedge fund company, VR Capital Group.

VR Capital acquired a 25 percent stake in the company in March 2019 and immediately deploy all its legal resources to force Nigeria to the negotiating table.

The question is why fighting to get the Federal Government to the negotiating table when a legal court has awarded $9.6 billion and you’ve instructed your lawyers to start identifying Nigeria’s assets overseas?

The truth is the company and the VR Capital just want to exploit the poorly structured Nigerian system and cash out an ‘appropriate amount’ for their efforts.

It should be noted that hedge funds like Paulson & Co., Elliott Management, Pershing Square Capital Management and other asset management companies have taken stakes in embattled companies in the past and used their resources like VR Capital Group and P&ID are currently during to force the Nigerian government (their victims) to negotiate or risk an economic catastrophe.

However, the issue here is slightly different as the contract was likely secured through some illegal means given the aforementioned reasons and with the government now in the know, it is just a matter of time before the invited Nigerians on the board of the company start talking or abandon the case and disappear into thin air.

Following new EFCC discoveries, the Federal Government has now called off any negotiation with P&ID and will likely commence arrest of the people behind the contract this week.
https://investorsking.com/9-6-billion-judgment-and-new-discoveries/

Why did Nigeria not go to court to present these facts?

The question to ask is whether P&ID have a valid contract with the federal government? The answer seems yes from all I have read on the issue. All these talk of they not having office address, being paper company etc are all not important.to the point that Nigeria may pay $9.6billion.
Even if Efcc makes arrest, how would that invalidate the contract and cure our failures at the abritration that we willingly submitted to

Hope they get to the root of this