Presidency Hails UK Court’s Judgment On P&ID

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AMINA HUSSAINI

The Presidency on Friday hailed the judgment by the UK Court granting Nigeria’s application for an extension of time and relief from sanctions in a $10 billion arbitration case with Process and Industrious Development Limited (P&ID) in Nigeria.

Presidency

In a statement on Friday in Abuja, the Senior Special Assistant to the President on Media & Publicity, Garba Shehu, said the judgement provides a strong prima facie case that the fraudulent gas deal with P&ID and the subsequent judgment debt of $10 billion against Nigeria was a clear attempt to cheat the country of billions of dollars by a company that had not invested one Naira in our country.

He said, “On the arbitration award, it is a source of huge satisfaction that the UK Court, among others, had ruled that:

‘‘Nigeria has established a strong prima facie case that the Gas Supply and Processing (GSPA) was procured by bribes paid to insiders as part of a larger scheme to defraud Nigeria.

‘‘There is also a strong prima facie case that that (P&ID) main witness in the arbitration, Mr Quinn, gave a perjured evidence to the Tribunal, and that contrary to that evidence, P&ID was not in the position to perform the contract.’’

The Presidency expressed delight with the processes that led to the outcome in the English Court, noting that it has given relief to the Nigerian government to further protect our national assets from criminally-minded organisations and individuals.

“The views of the UK court thus provide sufficient grounds for the Federal Government to go ahead and challenge the frauds perpetrated by the company and overturn the arbitration award.

“President Muhammadu Buhari therefore commends the team of lawyers who represented Nigeria in the matter with P&ID, and reassures all well-meaning Nigerians and the international community of his unwavering commitment to fight corruption in all its forms and manifestation,” Shehu stated.

The Attorney-General and Minister of Justice, Abubakar Malami had in a statement in Abuja on Friday, said the court has granted Nigeria’s application for an extension of time and relief from sanctions due to the exceptional circumstances where the government has uncovered evidence of massive fraud in procuring the award.

Malami said the Court heard evidence from the government and the offshore shell company P&ID in relation to the gas supply and processing agreement (GSPA).

This agreement was entered into by the parties 10 years ago and which was never performed.

He said the Buhari-led administration, having inherited the dispute from the previous administration, only recently uncovered evidence that the GSPA was a sham commercial deal.

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