UK Court Orders P&ID To Make £1.5m Interim Payment To Nigeria

The United Kingdom High Court on Thursday, ordered the Process and Industrial Development (P&ID) to make interim payment of about £1.5 million to Nigeria within 21 days.

Sir Cranston J, who presided over the matter, ruled that it was for the legal cost borne by the Federal Government, in its application for an extension of time, among others.

Recall that the court had earlier granted the federal government’s application for an extension of time, even as it sought to upturn about $10 billion award against it.

On his part, spokesperson for the Attorney General of the Federation said that the ruling was a win-win for Nigeria, as it was bent on proving that the P&ID gas contract of 2010 was a scheme to defraud the country.

“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,” the spokesperson said.