$9.6BN AWARD: Malami rules out negotiation with P&ID

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, said on Thursday, the Federal Government would not negotiate with the British Virgin Island firm, Process and Industrial Development (P&ID) over the $9.6bn judgment secured against Nigeria last year.

A British court had last year awarded $9.6bn to P&ID over a failed gas supply agreement signed with the federal government in 2010.

However, a British Commercial Court last week gave Nigeria the go-ahead to appeal the award of the funds to P&ID.

Sir Ross Cranston, who delivered the ruling, said: “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.”

The AGF had said in a chat with journalists on Wednesday that the government would keep the window of negotiation with P&ID open.

READ ALSO: Nigeria learnt lessons from P&ID saga —Malami

However, in a surprising U-turn, Malami said in a statement issued by his spokesman, Umar Gwandu, that the government would not negotiate with P&ID as the process leading to the arbitral award it obtained against Nigeria was rooted in fraud.

He said: “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.”

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now