Tag: P&ID
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P&ID: UK Court Orders Release Of $200m Deposit To Nigeria
A commercial court in London has ordered the release of $200 million used as a deposit in the case against Process & Industrial Development (P&ID) to the Nigerian government. The Governor of the Central Bank, Godwin Emefiele who confirmed the development on Tuesday, said the ruling follows the establishment of prima facie fraud before the…
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Court orders P&ID to pay Nigeria £1.5 million
A United Kingdom judge has ordered P&ID to make an interim payment of more than £1.5 million to Nigeria within 21 days to cover legal costs the country incurred as part of its successful application for the extension of time to challenge the arbitration award of $9.6 billion to the company. The judge gave the…
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P&ID $9.6bn fraud: Victory in UK court, a huge relief – Lai Mohammed
The Minister of Information and Culture, Alhaji Lai Mohammed has said that the Friday judgment of a UK Commercial Court suspending the execution of a 9.6 billion dollar judgment debt against Nigeria is “a huge relief”. The Minister, who spoke to the News Agency of Nigeria (NAN) in Abuja, said the court decision “is a…