FEATURED
UK Court Dismisses $11.5bn P&ID Case Against Nigeria, As Tinubu Hails Judgment
A United Kingdom court, has dismissed the $11.5 billion (USD) award, with accumulated interest, previously granted to Process & Industrial Development (P&ID) Limited in a 2010 botched agreement to supposedly construct a gas processing plant in Nigeria.
BIGPEN NIGERIA (https://bigpenngr.com) reports that Justice Robin Knowles from the Business and Property Court in London, ruled out the lawsuit today, Monday October 23, 2023, citing fraud as the basis for the award’s dismissal..
Reacting to the landmark ruling, President Bola Tinubu, expressed delight over the verdict which focused on the core issues of the case.
Special Adviser to the President, (Media & Publicity), Chief Ajuri Ngelale, in a statement, said; President Bola Tinubu applauds today’s judgment rendered by Judge Robin Knowles of the Business and Property Court in London, awarding a landmark victory to the Federal Government of Nigeria over a firm known as Process & Industrial Development (P&ID) Limited.
“Following Judge Knowles’ dismissal of the $11.5 billion (USD) value of the award plus accumulated interest, previously won by P&ID over a failed 2010 deal to allegedly build a gas processing plant, on the grounds that the award was obtained by fraud, President Tinubu commends the UK Court for prioritizing the merits of the case above all other considerations.
“This landmark judgment proves conclusively that nation states will no longer be held hostage by economic conspiracies between private firms and solitarily corrupt officials who conspire to extort and indebt the very nations they swear to defend and protect.
“Today’s victory is not for Nigeria alone. It is a victory for our long exploited continent and for the developing world at large, which has for too long been on the receiving end of unjust economic malpractice and overt exploitation.
“Nigeria is appreciative of the tremendous efforts of the defense team and acknowledges the role of the Federal Ministry of Justice and the Office of the Attorney-General in the process of defending Nigeria’s interest in this case,” the President stated.
NDLEA Raises Alarm Over Foreign Drug Cartels, Arrests 3 South Africans
No Ceasefire With Boko Haram, DHQ Declares, Says 435 Terrorists Killed
Africa Made It Launches ‘Power, Protect And Purchase’ To Unlock $34bn From Cotton Industry
Court Rejects Torture Claims, Admits Statements of Alleged Coup Plotters
Tinubu Storms Akwa Ibom Friday For Project Commissioning, Heads To Rivers Saturday For APC Rally
Reps Dismiss Petition Seeking Review of NIPCO Gas Distribution Licences
2027: Okowa Says Delta Targets Over 2 Million Votes For Tinubu, APC
Oborevwori, Okowa, Onowakpo Canvass Support for Tinubu as Delta APC Flags Off 2027 Campaign in Oleh
Keyamo Hails Court Ruling Sacking Mark-Led ADC Leadership, Invalidating Atiku’s Candidacy
BREAKING: Court Sacks Mark-Led ADC Leadership, Nullifies Atiku’s 2027 Presidential Ticket
BREAKING: NJC Suspends 3 Judges For One Year Without Pay Over Misconduct
Senate Begins Scrutiny Of Tinubu’s Fresh ₦10.79trn Foreign Loan
Why Reps Move to Revoke Licences of Hospitals Denying Patients Emergency Treatment
Police Warn Political Thugs Over Destruction of Campaign Posters, Threaten Prosecution
Angry Youths Disrupt INEC Stakeholders Meeting In Asaba Over Alleged Warri Ward Controversy
