Adedapo Adesanya
By Adedapo Adesanya
Nigerian delegates have departed for the United Kingdom ahead of the September 26 court session to overturn the $9.6 billion judgement by a UK court against Nigeria in favour of Process and Industrial Developments Ltd (P&ID).
The delegates include Attorney General of the Federation, Mr Abubakar Malami; the Inspector-General of Police, Mohammed Adamu, and the Governor of Central Bank of Nigeria, Godwin Emefiele.
Other members of the delegation include the Minister of Information and Culture, Lai Mohammed, and the acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu.
Business Post reported in August that a British commercial court had awarded $9.6 billion judgement against Nigeria over an alleged breach of a gas supply and processing agreement signed with P&ID in 2010. READ IT HERE
The Attorney General of the Federation, while giving clarity on the issue, said that the Federal Government was still considering all options in its efforts to get a favourable judgment at the UK court.
“All cards are on the table, but it all depends on the one that has potency for setting aside the award having regards to the applicable law in the circumstances.
“No possibility is ruled out. The options available to us include the possibility of filing a new case and or using existing proceedings to seek relief of setting aside the award (of the contract). Nothing can be ruled out.” Malami stated.
He further disclosed that although the U.K court had ruled that Nigeria should pay P&ID $9.6 billion; it had not yet granted the approval for the seizure of Nigerian assets.
“What they (P&ID) did was to approach the conventional court for the enforcement of the award. The conventional court said it was not going to give an order for the enforcement of the order until they were heard.
“They had wanted an order ex parte without putting us on notice to attach (for seizure) our assets. But the court said it would have to hear from the other side (Nigeria) in the enforcement proceedings.
“The court fixed September 26 for the hearing of arguments by the parties to determine whether to allow for the enforcement or not to allow the enforcement.”
On Thursday, A Federal High Court sitting in Abuja ordered the shutdown of operations and the forfeiture of the assets of P&ID Virgin Island and its affiliate, P&ID Nigeria Limited on 11-counts charge.
The firms were alleged to have fraudulently obtained lands from the Cross River State Government in 2010 for the gas supply project agreement that resulted to the $9.6bn judgment debt on count one. The firms admitted guilt to ‘count four’ which was a similar charge to ‘count three’, and pleaded guilty to count five, and count six which bordered on the charges of tax evasion.
This new development will be among the evidences that the Nigerian delegates have prepared to present to before the court alongside EFCC investigative reports.
“So, we have at our disposal proof that they sent money to Nigerian officials, and in return for the money that was sent to Nigerian officials, there was a compromise all through the creation of a fraudulent and deceitful agreement.” Malami added.
