A Justice Ross Cranston led UK High Court has ordered
the Process and Industrial Development (P&ID) to make an
interim payment of more than £1.5 million within 21 days to
Nigerian Government.
The UK court said the interim payment should be made to cover
legal costs the Federal Government of Nigeria incurred as part of
their successful application for the extension of time to challenge
the arbitration award and procedural hearing earlier in the
year.
A case management conference to determine the full trial window
is scheduled to take place after November 2020.
A Spokesperson from the office of Attorney General of the
Federation explained that “this is another crucial win for
Nigeria in our ongoing fight against the vulture-fund-backed
P&ID.
“We are pleased that the English Courts have taken our fraud
challenge seriously, and awarded us a substantial interim payment
in respect of our successful application for an extension of time
to challenge the award. This is a significant blow for P&ID,
who continue to attempt to delay the process.
“To date, P&ID and its financial backer VR Capital have
not produced a single document or credible witness to challenge the
FRN’s fraud evidence. Instead, they continue to resort to
disseminating misleading claims, while taking every step possible
to delay or obstruct our investigations across multiple
jurisdictions.
The FRN remains firmly committed to overturning the
injustice of the $10 billion award, and will not rest until we
secure justice for the people of Nigeria – no matter how long it
takes. Investigations into the GSPA are ongoing, and we are
confident that more of the truth will be revealed over the coming
months.”
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Speaking further, the media aide to the AGF stated that “the
Honourable Attorney General would like to clarify his remarks made
on Arise TV, as reported in an online medium yesterday.
“There will be no negotiation or talk of settlement with
P&ID or any related party by or on behalf of the Federal
Government of Nigeria. The recent judgment of the English
Commercial Court confirmed our view that P&ID and its cohorts
are fraudsters who have exploited our country. They will not
benefit from their corrupt behaviour.
This is a classic case with overwhelming fraudulent and
corrupt undertones. The Federal Government of Nigeria is not
considering any possibility of negotiations with P&ID. It has
not only fallen within the tall order exception referred to by the
Hon Attorney General in his interview with Arise TV yesterday, but
lacks any legitimate foundation. We will not and cannot negotiate
arbitral awards where the basis and foundation rely on fraud,
corruption, breach of processes and procedures.”
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