Sunday, September 6, 2020

Nigerian presidency hails English court's verdict on $10bn P&ID case.

The federal government has hailed the judgement of Business and Property Courts of England and Wales which granted Nigeria’s application for an extension of time and relief over $10bn sanctions.
 In a statement released on Friday, September 4, through the Twitter page of the Nigerian presidency, the federal government described the judgement as right and just.
It would be recalled that $10bn sanction was imposed on Nigeria in a case in which Process and Industrious Development Limited (P&ID). 
The decision against Nigeria was taken after a controversial gas deal with the engineering and project management company was involved with. On Friday, the English court granted Nigeria an extension of time and relief on the case, and the federal government has described the verdict as a landmark victory over attempts to cheat Nigeria by the other party involved. 
The federal government also hailed the process that led to the judgment of the English court and further added that it will enable Nigeria to provide sufficient ground to tackle what it termed as a fraud. 

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