Wed. Feb 26th, 2020

UK Court Grants FG Leave To Appeal $9.6bn Judgment

A United Kingdom court has granted the Federal Government leave to appeal the judgment that asked Process and Industrial Developments (P&ID) Limited to seize $9.6bn in Nigerian assets.

The P&ID secured the damages against Nigeria following a failed Gas Supply Project Agreement (GSPA) contract between it and the Federal Ministry of Petroleum Resources.

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami in a brief from London said, “Application for leave to appeal against the award and enforcement of the award is granted

Application for stay of execution is currently being considered.

Nigeria’s Attorney General of the Federation and Minister of Justice, Abubakar Malami, who is the leader of the Nigerian legal team in London, confirmed the development.

 

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