A United Kingdom High Court on Friday set a timeline of a suit filed by the Nigerian government to challenge the award of $9.6billion to Process and Industrial Developments Limited (P&ID) over a failed gas supply and processing contract.
The government had insisted that the contract was based on an illegal and fraudulent agreement and applied to the British court to quash the ruling.
The Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), said in a statement issued by his media aide, Dr. Jibrilu Gwandu, in Abuja that the federal government appeared before the British court on Friday for a scheduled Case Management Conference (CMC) on the matter.
He said the conference was held for the court to decide the procedural issues relating to Nigeria’s application for the setting aside of $9.6billion awarded to the Irish firm.
The statement read: “A timetable has now been fixed for a hearing to decide if our application can be brought outside the normal time limits.
“This is another positive milestone in the Federation’s fight to overturn this award.
“Based on new and credible evidence discovered by the Economic and Financial Crimes Commission (EFCC), it is increasingly clear that P&ID ‘contract’ was a highly orchestrated scam, involving a cover-up by ministers at the highest levels of office in the previous administration.
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“These officials, who were entrusted to safeguard the future and assets of Nigeria, knowingly entered into the sham GSPA, and deliberately failed to defend the Federation in the ensuing arbitral proceedings.
“It is telling that to date P&ID have said nothing to rebut these allegations of fraud.
“These issues will now be before the court to consider in relation to the Federation’s challenge to this award.
“P&ID has 28 days to respond to the application for the extension of the time to challenge the arbitral award. Thereafter, the court will set a date for hearing of the application.”
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