Nigeria’s Finance Minister raises the alarm on dangers of not setting aside $9.6bn P&ID judgment

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has called on Nigerians to rally against the decision of the United Kingdom court asking Process and Industrial Developments Ltd to seize $9.6bn in Nigerian assets.

According to the minister, the judgment award is an assault on all Nigerians.

Ahmed made the call at a press conference in Abuja on Tuesday, adding that the amount awarded was enough to cover personnel cost in the nation’s annual budget.

Speaking further, Ahmed insisted that it was imperative for all Nigerians to rise up to the task of ensuring that the nation and its citizens are not unfairly treated on the matter.

READ ALSO: Nigeria’s Central Bank Gov punctures P&ID’s claims, says it did not invest any money in Nigeria

She said: “This matter that has brought us here today is a very, very weighty one.

“An award of $9.6bn is equivalent to N3.5trn. N3.5trn in our annual budget will be covering for us the personnel cost which is about N3.2trn and more.

“So, this award that is unreasonable, excessive and exorbitant.

“It is also unfair and it is an assault on every Nigerian.

“It is beyond trying to compensate for a commercial interest. It is an assault on each and every Nigerian.

“For us in the Ministry of Finance, Budget and National Planning, we take comfort from the efforts that so far had been put in place by the Attorney-General and Minister of Justice to ensure that this judgment is set aside because the consequences will be unpleasant for each and every Nigerian.

“I hope our brothers and sisters in the press will help fight the cause of our country. We will be doing that not just for this administration but for our children and their children. So it is time for us to all to be up in arms to make sure that we are not unfairly treated as a people.”

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