and Processing Agreement between the Federal Government and the Irish firm, Process and Industrial Developments .
The Presidency on Friday hailed the ruling as right and just while Attorney-General of the Federation and Minister of Justice, Abubakar Malami , called it a victory against “vulture-fund-backed P&ID.” Although the names of Nigerians linked with the bribe scandal were listed in the judgment, some of them are still standing trial.
“Mr. Nolan’s explanation for this in his statement did not bear scrutiny; there was expert evidence that quite apart from money-lending considerations, the oil and gas sector did not operate in the informal sector. “On closer investigation, this is not the type of case Butcher J rightly warned about in his judgment ordering the present hearing, where a party who has been unsuccessful in the arbitration alleges fraud in relation to the procurement of the underlying contract or in relation to the conduct of the arbitration, when that was not properly investigated at the time of the arbitration: The Federal Republic of Nigeria v Process & Industrial Developments Limited [2020] EWHC 129 , [31].
The judge insisted that Nigeria had acted reasonably in asking for extension of time to make its case against P&ID.He added: “As I have explained, the delay is not in my view the result of a deliberate decision made because of some perceived advantage, and in all the circumstances, Nigeria has acted reasonably.
On alleged bungling of investigation of P&ID by the suspended Acting Chairman of EFCC, the judge said AGF Malami admitted in his statement that “despite his criticisms of Magu’s personal handling of the EFCC investigations into P&ID, the investigation itself made excellent progress.” “Mr. Magu was detained on 6 July, 2020 and a panel is investigating matters. On 31 July, 2020, after the hearing before me, a Nigerian news outlet, The Cable, published what purported to be a copy of the Attorney General’s letter of 5 June 2020 and the reply of Mr. Magu. In Mr. Magu’s reply, he says that the EFCC investigation was conducted expeditiously in 2018-2019, and that a staggering and unprecedented volume of work was done in less than a year.
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