n case with P&ID has given the Federal Government some relief.
In welcoming the judgment, Shehu said in the Presidency’s view, it was “right, just and provides a strong prima facie case that the fraudulent gas deal with P&ID and the subsequent judgment debt of $10bn against Nigeria was a clear attempt to cheat the country of billions of dollars by a company that had not invested one naira in our country.”
“The Presidency expresses delight with the processes that led to this outcome in the English Court, noting that it has given relief to the Nigerian government to further protect our national assets from criminally-minded organisations and individuals. Responding to our correspondent’s request for the P&ID’s response to the Friday’s verdict, the firm, through its usual e-mail channel, said it welcomed the judgment.
Justice Cranston, in granting Nigeria permission to challenge the arbitral award delivered over three and a half years ago, agreed that there was prima facie case of fraud in the agreements leading to the award requiring full inquiry. Following the Federal Government’s request, Justice Butcher had on September 26, 2019, granted Nigeria’s request to appeal.
Countering the argument, Nigeria’s lawyer, Howard, contended that the reason for the delay was that P&ID successfully concealed its fraud during the arbitration and for many years afterwards.
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