seunmsg:


$1billion is not a small money for any government to part with without exploring all possible legal options. I wouldn’t have paid if I was also in Buhari’s shoes back in 2015.

How do you expect Buhari or any other new government to just pay a private company $1billion (that is close to N400 billion ) for nothing. No services rendered or goods bought. Why didn't Jonathan pay it before he handed over? He could he have agreed to pay the money but left it for his successor to pay.

Again, why did the PDP administration enter into such a terrible contract and then fail to deliver?

Isn't it obvious. Stealing that is not corruption of course. They negotiated a bogus amount for a bogus contract and collecting kickback or awaiting kickback. I am sure the people that negotiated the agreement are waiting for a huge pay off.

When the Irish took the FG to arbitration, what effort did Jonathan put in place to resolve the matter? He practically did nothing until $6.6billion was awarded against the country in 2013. He then connived with Dezaini to negotiate about $1billion out of court settlement in a manner that raised so much suspicion that he couldn’t pay the money after the agreement. We really need to learn how to apportion blame appropriately.

Why will any sane human sign such a stupid contract? Why will a country sign it's sovereignty away to British courts when we have courts in Nigeria. I have never heard of such before. President Jonathan and the people that signed our sovereignty away should be charged for treason.

Going forward, we should support the government to explore all possible legal options before agreeing to a deal. The company is still very open to a negotiated settlement. Nobody is going to pay them $9billion.

Which yeye legal option. You see why I love Iran. You can't try such rubbish with Iran. Britain seized their oil tanker, they siezed Britain's tanker in retaliation. If the British siezed our money in their hands, we should siezed all British assets in Nigeria. How can one pay $9billion for no service or goods, just pay because some corrupt officials signed some useless piece of paper.

The only country that is truly independent from Britain is America. And that's because the shed blood for their independence.

[quote author=SirChime post=81314122][/quote]
So buhari was president in 2013 you Igbo fool?

seunmohmoh:
Who we offend?

Talase
They should better colonize us again.... As in who makes deal and renegade?

obailala:
1 firm wants to take $9billion from Nigeria? As compensation for no service rendered? Such clowns!

Me sef i tire ooo.


The calculated 6bn as the amount they should have earned by the end of the 20yrs (2030), then go ahead to add 3bn interest.


Tge owners of that firm are thieves.

tsdarkside:


20years ago....

chai....

20 years to the future rather.


6bn is the amount they estimated they would have earned in 20 yrs time. Based on the time the agreement was singed, that 20yrs is 2030 +.


They now added 3bn interest to what they think they would have earned on year 2030 + and want to collect it now without doing anything.


The firm and its owners are just thieves.

What about Malabu our $1 trillion
oil block virtually given away to western multinational companies

hoopLA:
And they said we should apologize to GEJ.

Anybody with that view is either a fool or useless for life.

The same way the same government pulled out of several IPP projects with various IOCs to loot whatever money was budgeted for those projects.

$9 billion
Gone because of inept government.

Ipob idìots will come and be singing rubbish about gej.

This country is full of fòols

Ayemileto:


Me sef i tire ooo.


The calculated 6bn as the amount they should have earned by the end of the 20yrs (2030), then go ahead to add 3bn interest.


Tge owners of that firm are thieves.

Nothing was built, nothing was supplied, no service whatsoever was rendered, but the clowns want Nigeria to pay $9billion to them because they have willing accomplices in a british court... How does a british court even have jurisdiction over the Nigerian govt?

The most unfortunate thing about this is that for some silly political inclinations and prejudices, there are actually Nigerians here even proposing that the govt pays up quickly, an amount which almost trumps our annual national budget.

All these nairaland analysts sef

@denee, could you please give us your take on this? Some of us have NGN investments denominated in FCY. Do we start recouping them? Especially since this dispute, if not managed well can result to FPI flight, and investors dumping our Eurobonds.

This is not looking good sha, maybe we go back to these guys, re-negotiate the initial agreement and get them to build another gas plant (CNG though, that can be transported easily to other parts of Nigeria), at least we need it.

Naanlong01:

Talase
They should better colonize us again.... As in who makes deal and renegade?

Before them colonize, I don Japa!!

obailala:

Nothing was built, nothing was supplied, no service whatsoever was rendered, but the clowns want Nigeria to pay $9billion to them because they have willing accomplices in a british court... How does a british court even have jurisdiction over the Nigerian govt?

The most unfortunate thing about this is that for some silly political inclinations and prejudices, there are actually Nigerians here even proposing that the govt pays up quickly, an amount which almost trumps our annual national budget.

This is not a Third World vs First World skirmish. That is the way things work unfortunately for you. The same law that applies to Nigeria would be the same law that applies to America.

A Canadian province, Newfoundland is fond of signing atrocious contracts that deprive it of massive sums with other provinces. Unfortunately, it can't pull out as a contract is a contract. If it did, it would face the law as Nigeria did.

If you for instance wanted to make money from this judgment, simply walk up to the company and assure them you can help them retrieve some or all their money but for a fee. Let's say 15% of any money you recover.

If you know of any Nigerian assets you can seize in order to recover some of the debts and you succeed, you earn 15%.

For instance, read up about vulture funds

https://en.wikipedia.org/wiki/Vulture_fund

grandstar:


This is not a Third World vs First World skirmish. That is the way things work unfortunately for you. The same law that applies to Nigeria would be the same law that applies to America.

A Canadian province, Newfoundland is fond of signing atrocious contracts that deprive it of massive sums with other provinces. Unfortunately, it can't pull out as a contract is a contract. If it did, it would face the law as Nigeria did.

If you for instance wanted to make money from this judgment, simply walk up to the company and assure them you can help them retrieve some or all their money but for a fee. Let's say 15% of any money you recover.

If you know of any Nigerian assets you can seize in order to recover some of the debts and you succeed, you earn 15%.

For instance, read up about vulture funds

https://en.wikipedia.org/wiki/Vulture_fund

Comparing apples and oranges. The Canadian province is signing atrocious contracts with other Canadian provinces and is judged under Canadian law.

It would be atrocious for the Canadian government to sign a contract us a private US firm and subject itself to US laws, except that contract is covered by a government to government treaty.

ralimfa:

lol
nigerian indeed
as if there's any way you benefit from the government
na your type go wan enter there form pastor when your colleagues dy collect their shares
I no mean any insult o
abeg
before you use english finish me

Gotcha

wirinet:


Comparing apples and oranges. The Canadian province is signing atrocious contracts with other Canadian provinces and is judged under Canadian law.

It would be atrocious for the Canadian government to sign a contract us a private US firm and subject itself to US laws, except that contract is covered by a government to government treaty.

You do have a point.

The primary point I was trying to make and which you too are making is that the law is the law. Be careful of what you sign. Read between the lines.

I tried dabbling into some international business after leaving Uni and was signing NCNDA agreements. In many of these agreements, I'd sign that arbitration will be in Switzerland or some foreign country not wondering how I would get there

grandstar:


You do have a point.

The primary point I was trying to make and which you too are making is that the law is the law. Be careful of what you sign. Read between the lines.

I tried dabbling into some international business after leaving Uni and was signing NCNDA agreements. In many of these agreements, I'd sign that arbitration will be in Switzerland or some foreign country not wondering how I would get there

I understand, but signing an agreement as an individual is not the same as signing an agreement as a sovereign state. One man cannot just sign an agreement, especially if it has financial implications and expect it to be binding on the whole nation. It has to go through other people and other branches of governments. That's what separate democracy from dictatorship. Even before the government take any foreign loan, it has to pass through the national assembly, and the repayment also have to be budgeted by the national assembly. Unless you are telling me Buhari has the powers to unilaterally sign a $1 billion contract without recourse to any other person or branch of government.
The agreements you signed only affects the issues in relation to the contract. The agreement cannot say if you reneged that all your assets around the world including your house in the village would be confiscated.

Rubbish.


Can a Nigerian court decide a breach of contract case against the British Government

Perkins2018:

So buhari was president in 2013 you Igbo fool?

Typical of arrogant and empty folks. They always turn to insults once they cannot defend their silly post. When a company has an arrangement or a contract with Nigeria government, it's irrelevant who was in power Dr Jonathan or Bubu . Follow the rules and right steps to cancel the contract.

SirChime:

Typical of arrogant and empty folks. They always turn to insults once they cannot defend their silly post. When a company has an arrangement or a contract with Nigeria government, it's irrelevant who was in power Dr Jonathan or Bubu . Follow the rules and right steps to cancel the contract.

Dull one. Jonathan cancelled the contract not bubu. Learn to read next time.

If Irish seize our asserts, we will also seize their asserts. They have some asserts here too. This is a deal struck in 2013. You cannot have all your profit for 20 years when it is only 6 years after! How does that make sense?

Nigeria should learn to study and negotiate foreign deals before proceeding to sign agreement. Every country has their country's interest above and beyond others. Yet they want to give Nigeria Aids but are secretly sucking Nigeria. Not until we have educated and strategic leadership, the 21st century technology and policy strategy would run our country over. No one is playing. The president must direct the country with energy, intelligence, education, hardwork, negotiation, question rational and policies. The president ought to be a voracious reader. Information can not pass you by in this age of information.

I feel sorry for Nigerians. You are arguing over two not too competent presidents. There is common enemy wanting to seize hold of our collective wealth. $9B is more than 3 trillion naira. That money can build 37 large companies in each of Nigeria state and one useless jugde is ordering seizure. That is how weak they found you and you are not protesting it. You are cursing which president is responsible!