Tag: P&ID

UK Supreme Court dismisses P&ID appeal

Aminu Imam
UK S'Court on P&ID

…Orders £43m payment to Nigeria The United Kingdom (UK)’s Supreme Court has dismissed the appeal filed by Process & Industrial Development (P&ID), affirming that the £43 million cost award granted to Nigeria should be paid in pound sterling and not in naira. In a unanimous decision delivered on Wednesday by a five-member panel comprising Robert Reed, Dame Simler, David Richards, Ben Stephens, and Patrick Hodge, the court ruled that there was no basis to alter the currency of payment, noting that Nigeria had paid its lawyers in pounds throughout the…

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Tinubu applauds Nigeria’s landmark victory, as UK court quashes $11bn P&ID award

Aminu Imam

Hassan Umar Farouq with agency report After over five years of legal fireworks, Nigeria has finally succeeded in halting the enforcement of the $11 billion arbitration award in favour of Process & Industrial Developments (P&ID) Ltd. In a judgment delivered via e-mail, the judge of the Commercial Courts of England and Wales, Robin Knowles, upheld Nigeria’s prayer on the grounds that the ill-fated gas processing contract was obtained by fraud. Recall that in 2010, P&ID entered into an agreement with Nigeria to construct a gas processing plant in Calabar, Cross…

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Tinubu applauds Nigeria’s landmark victory in P&ID case

Aminu Imam

Hassan Umar Farouq President Bola Tinubu has applauded 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 the firm known as Process & Industry Development (P&ID) Ltd. According to a press statement issued today by the President’s Special Adviser  (Media & Publicity), Ajuri Ngelale, President Tinubu commended the UK Court for prioritizing the merits of the case above all other considerations, following the judge’s dismissal of the $11.5 billion value of the award…

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Just In! Massive victory for Nigeria, as UK court quashes $11bn P&ID award

Aminu Imam

After over five years of legal fireworks, Nigeria has finally succeeded in halting the enforcement of the $11 billion arbitration award in favour of  Process & Industrial Developments (P&ID) Ltd. In a judgment delivered via e-mail, the judge of the Commercial Courts of England and Wales,  Robin Knowles, upheld Nigeria’s prayer on the grounds  that the ill-fated gas processing contract was obtained by fraud. Recall that in 2010, P&ID entered into an agreement with Nigeria to construct a gas processing plant in Calabar, Cross River state. However, P&ID alleges that…

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$11bn P&ID vs. Nigeria Suit: UK court sets today as judgement date

Aminu Imam

The Business and Property Court, in London, United Kingdom (UK) has scheduled today, Monday, October 23, as the date for delivering the verdict in the ongoing case between the Nigerian federal government and Process & Industrial Developments (P&ID) Ltd. The judgment will be handed down by Judge Robin Knowles. Recall that in 2010, P&ID entered into an agreement with Nigeria to construct a gas processing plant in Calabar, Cross River State. However, P&ID alleges that the deal fell apart due to the Nigerian government not fulfilling its obligations. P&ID sought…

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P&ID $11bn Gas Contract Case: ‘Corruption in Nigeria on an industrial scale’, British lawyer tells London court

Aminu Imam

A British lawyer representing Nigeria in a London court case in which $11 billion is at stake has said, on Friday, that the trial would reveal corruption “on an industrial scale”, not only of Nigerian officials but also of British lawyers. The case stems from a contract for a gas project awarded by Nigeria in 2010 to Process and Industrial Developments Limited, P&ID. The gas processing facility never materialised, for reasons that are disputed. After years of legal wrangling, a London-based arbitration tribunal said, in 2017, that Nigeria had not…

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Judgment Debt: Nigeria floors P&ID as UK court grants relief from $10bn fine

Ishaku Yohanna

A court in London, United Kingdom, has given Nigeria the go ahead to appeal a $10bn judgment debt against Process and Industrial Developments (P&ID). The fine was earlier slammed on the Nigerian Government by a court in London as compensation for P&ID over a failed deal on gas supply. In the latest ruling, the judge, Sir Ross Cranston, found that: “Nigeria has established a strong prima facie case that the GSPA was procured by bribes paid to insiders as part of a larger scheme to defraud Nigeria.  “There is also a…

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