Good. Now that UK is entering Brexit, they will listen. What an atrocious scam.

ntyce:
I would ask you a question, if you were to be in charge of affairs will you have paid the sum?
Looking at the diff cases you listed above, it's obvious that an avenue like this is used to siphon money from developing countries by dubious organisations. And such instances are with connivance of indigenes of such countries.
I won't be shocked if it's revealed that some Nigerians are the ones behind P&ID....
Should in case the FG subsequently pays, those who signed the agreement should be made to pay for this dastard act.

I agree with you largely but most of those who signed the agreement are dead.

After reading this report by thisday, i can now understand the whole noise which i think is sponsored by the corrupt and powerful individuals associated with this failed project. I admire Buhari for not paying this money. Nigeria need to fight to the last. There are still oppportunity for appeal.

BigIyanga:

What a daft response from an illogical youth.
Irish company can enter a Mareva Injunction in the UK and US to seize all Naija assets. Google Mareva Injuction.
Also, NNPC’s and CBN’s accounts are domiciled in the US— mostly managed by JP Morgan Chase Bank Inc.. these accounts can be frozen by a valid court order.
Also check out the principle of reciprocity between US and UK in intl business law. Any verdict obtained in the UK can be enforced in the US.. that’s why FG retained lawyers in both countries

Bro you are also daft to understand that Nigeria has already successfully appealed the case in the USA and you should have taken your own advice and Google before giving me a useless mention.

Notwithstanding, do you even know Mareva injunction was rejected by the American supreme court since 1999.

Like I stated earlier, using Google would have saved you from this embarrassment.

Iamgrey5:

Nationalisation is the transfer of a major branch of industry or commerce from private to state ownership or control.

Hope you understand what Nationalization is ?

A company cannot have private ownership and still claim it has been Nationalized persay.

What we have in oil company today is a form of PPP, but that can quickly Change if government wants to.

What happened in Cuba is completely different, Cuba strated Communism which meant all companies were forced to belong to state.

Only the oil company will be Nationalized here

This one has gone to Google wikipedia without understanding concept of application......

I'm talking about indigenous nationalisation policy like in 70s when foreign companies were made to sell shares to Nigerians so they can become major shareholders....
We already did that, Nigerians has huge stakes in these foreign companies operating here....

Seizing or taking over private assets without adequate compensation or agreement is illegal whether foreign ownership or not....
And if its a foreign asset, the govt will be sanctioned...
Such reckless behaviour is what brought about this PI&'D debacle in the first place.....
Let nigerian govt do more harm by seizing British assets and see how far....
Bunch of thieves...
And it's not like they will manage it better if they take over.....

OfoIgbo:


Including Buhari and Malami afterall GEJ negotiated a settlement that would have cost Nigeria around $800 million, but our current illiterates have shown the value of their sharia education and WASC-less certification.

Just because they want the north to rule, they have heaped a hefty $9.6 billion on Nigerians, thus condemning Nigerians and future generations to servitude to the west. Exactly the same role Sardauna was playing with the English, the foolish nigga that will keep the country forever attached to the apron strings of the UK

60% of the fault in this issue lies with Buhari and Malami
0% of the fault lies with Jonathan
40% lies with Aoondoaka, Rilwanu Lukman, Yar'Adua, Bandorki(sp)

I hope you read the entire report. Dont blame Buhari. He inherited the mess from Ya ardua and Jonathan and was doing all possible to reduce the cost to 200 million dollars. Nigeria has appealed, so let us wait and see.

SIRTee15:


This one has gone to Google wikipedia without understanding concept of application......

I'm talking about indigenous nationalisation policy like in 70s when foreign companies were made to sell shares to Nigerians so they can become major shareholders....
We already did that, Nigerians has huge stakes in these foreign companies operating here....

Seizing or taking over private assets without adequate compensation or agreement is illegal whether foreign ownership or not.
And if its a foreign asset, the govt will be sanctioned
Such reckless behaviour is what brought about this PI& debacle in the first place.....
Let nigerian govt do more harm by seizing British assets and see how far....
Bunch of thieves...
And it's not like they will manage it better if they take over.....

You must be running from the truth yourself.

I just wanted to inform you that your definition of Nationalization in your previous post was wrong

The country Nationalized some assets in the petroleum industry but gave continued ownership of other assets to British, European and American firms e.g British petroleum to African petroleum done by Obasanjo after the killings of Steve biko in South Africa..

However, in in the 90s, Abacha siezed other British assets in retaliation of the government assest siezed by British government until the Brits eventually caved


Nothwithstading, depending on the terms of agreement for Nationalization, government would pay the investors compensations for their investment.

Compensation!

The P&iG case was different because of the dubious terms of agreement signed by the previous Government.

gbam!
Also remember their theft our N500Trillion (yes 500 Trillion Naira!) Malabu oil block which nobody is talking about.

Ewedegubbler:
Nigerian government should stop arresting yahoo boys for stealing from these whites when they themselves steal billions and intend to steal more from us daily.. this is daylight robbery enabled by the British courts...

tinsel:

I hope you read the entire report. Dont blame Buhari. He inherited the mess from Ya ardua and Jonathan and was doing all possible to reduce the cost to 200 million dollars. Nigeria has appealed, so let us wait and see.

It was hugely Buhari's fault afterall he spent many months on assuming office without ministers. It was during this unnecessary interregnum that P&ID made some huge legal inroads, that eroded the compromise that GEJ negotiated.
Of course once he appointed ministers, Malami, along with BUhari that appointed him, bungled the whole process which is why Nigeria is now left with a bill of $9.6 billion dollars.

Buhari remains the chief culprit. If he had appointed intelligent ministers on time, this mess would have been avoided, but he spent those months trying to sully the image of Okonjo Iweala instead of tapping from her wealth of experience.

Buhari had better get us a deal that equals GEJ's deal or even better, otherwise this episode will taint him and any future Fulani aspirant for the presidency of Nigeria. Remember GEJ from the SS got us a deal, after fulanis led by Yar'Adua, Rilwanu Lukman and Barkindo tried to sell Nigeria to P&ID. Buhari, another fulani has now returned us to the same financial slavery that GEJ saved us from.

Iamgrey5:
You must be running from the truth yourself.

I just wanted to inform you that your definition of Nationalization in your previous post was wrong

The country Nationalized some assets in the petroleum industry but gave continued ownership of other assets to British, European and American firms e.g British petroleum to African petroleum done by Obasanjo after the killings of Steve biko in South Africa..

However, in in the 90s, Abacha siezed other British assets in retaliation of the government assest siezed by British government until the Brits eventually caved


Nothwithstading, depending on the terms of agreement for Nationalization, government would pay the investors compensations for their investment.

Compensation!

The P&iG case was different because of the dubious terms of agreement signed by the previous Government.

I can't remember any country caving in to abacha during his regime...
Instead, nigeria was sanctioned, heavily sanctioned...
And people suffered....
If u are of the indomie generation, ask people around u who grew up in the 90s.....
They will tell u what they went through...
The hardship destroyed the soul of Nigerians and forever made Nigerians develop a defeated mentality to issues of life....
And u indomie generation want a repeat...

Whether u like it or not...
It's the white man's world....
They designed and own the global economy we currently operate....
So, they can pin u down as they so wish....
U really have to be strong, very strong to resist them...
A quality our leaders never had and don't desire to have....

Even almighty China is beginning to feel the bully coming from America...
Why do u think they can they look helpless on the face of Hong Kong protest....
because they know one single mistake and hong kong becomes an albatross on their neck....

If our leaders acts recklessly...
It's Nigerians that will suffer again....
Just like Bubu attempted at the beginning of his first tenure

michlins:
Hate or like Buhari and APC, $9bn is a whole lot of money anywhere in the world. Nigeria should do everything not to pay. This government has already laden the unborn generation with hefty debt. Add this and the future is sold off

They threw the opportunity to.negotiate away. We are paying for the recklessness of this regime who failed to appoint their cabinet on time

FarahAideed:
Clowns ..I pray Buhari listens to those hawks and sieze Bonga

so If we sieze Bonga, what happens to all our investments abroad, Our foreign reserve etc, Nothing is kept in Nigeria, they are all kept abroad, our Gold reserves, all are kept abroad.

Validated:
Buhari and APC are the cause of Nigeria s ulta poverty status. All this story means nothingness other than begging the issue. Truth is that Buhari, Osinbajo and Malami caused this. GEJ already intervened and struck a $850 million settlement. All Buhari was expected to do was pay. Rather because he trusts noone, he chose the court action. Now it has backfired. In legal parlance there is what is called plea bargaining. When you realise that you do not have a good case, you opt for plea bargaining, e.g plead guilty for lesser sentencing, rather than allow full trial that may result in heavy penalty. FG under GEJ took this option, but our "oversabi" APC leadrrs, thought otherwise. Now they are looking for who to blame. I have read some funny comments like, "sieze British and Irish assets". With our fledgling economy, you want to try nonesence agsinst the Brentwood and IMF connection? Your dream must be very BIG! Can Nigeria withstand two weeks sanctions on our oil? Even now, we are merely a surviving economy.
My suggestion is that APC should swallow their pride. Go on their knees to P$ID and beg. The Bible, in Luke 12 verses 58 & 59 says "When you go with your adversary to the magistrate, make every effort along the way to settle with him, lest he drag you to the judge, the judge deliver you to the officer, and the officer throw you into prison.I tell you, you shall not depart from there till you have paid the very last mite.” The FG has alowed Nigeria to be dragged to the court and now every Nigerian is at risk. I cannot just imagine the disastrous impact this would have on our economy. If this had happened in a country like Japan, all those who contributed to this disaster would be honoured with suicide. But here we are with Malsmi, Osinbajo, Buhari and even EFCC looking for who to blame for their disastrous outing.

And in China ...with Firing Squad

grandstar:


I'm not a child my friend. I was just making a joke out of it.

If na Bobrisky story now, you go read all.

The Federal Government has tried to resolve the impasse but i strongly suspect some vested interest are pushing the company to insist on payment of the hefty award.

FarahAideed:


Exactly that's why we are praying Buhari sieze Bonga so he can go the way of Abacha fast na ... Of course they will not pay 9.6 billion but will end up paying at least 3billion in staggered payments and that's still a huge loss

Be serious
Nobody is paying any 3 billion USD

Its your type that got us into this mess to begin with.

You are too lazy to read the entire article but not too lazy to prescribe a solution.

A doctor who refuses to diagnose a patient but goes ahead to prescribe a course of treatment is nothing but a quack.

grandstar:
The article is too long

Anyway, it's obvious this government did try their best to negotiate and this is laudable.

The best route for now,may be to embarrass the company and Ireland by bringing attention to the world that the contract was fraudulent from the word go and the government won't pay the outrageous award.

This may compel the company to accept the much lower award.

It's tone the Presidency took the gloves.

the battle between the colonial masters and fulani caiphate

END OF ZOO

Iamgrey5:
Bro you are also daft to understand that Nigeria has already successfully appealed the case in the USA and you should have taken your own advice and Google before giving me a useless mention.

Notwithstanding, do you even know Mareva injunction was rejected by the American supreme court since 1999.

Like I stated earlier, using Google would have saved you from this embarrassment.

If they appealed and won, how come Naija AGF retained US lawfirm to negotiate? “successfully appealed case” means that FG has leverage yet it’s panicking and crying?
If Naija assets in US are out of seizure from this breach of contract, Naija would not paying US lawyers to represent us.
P&ID is 25% owned by a US company with ties to Trump, US Senate and lobbyists. They can grind Naija to a halt.. Stop deceiving yourself.

-Nigeria must pay! The UK and Ireland, my pro-Biafran people, need the money ASAP.

Empty headed thugs. Touch SNEPCO or Shell assets and see Nigeria collapse like a pack of cards.
How I wish the idiots in power will heed to this dumb advice.

mbos:
the battle between the colonial masters and fulani caiphate

END OF ZOO

Gbam! How I wish the clueless one will do as they suggest.

VULCAN:
Its your type that got us into this mess to begin with.

You are too lazy to read the entire article but not too lazy to prescribe a solution.

A doctor who refuses to diagnose a patient but goes ahead to prescribe a course of treatment is nothing but a quack.

Don't be too quick to judge and worse insult. I actually love reading intellectual stuff but this article kept rambling on. Felt like exams where student put in "fillers" to make their answers long. I was also expecting this flak from my response. I have much better use of my time.

The writer has a duty of care to the readers to make his or her article gripping to the readers. I write articles myself and attention span online is short.

What solution do you prescribe since you read the entire article.

PFRB:

Where were all these facts during the court process? Is Thisday news paper the court?

May be you should try to read the story slowly then you will find where negotiation was mentioned. To read with hatred for d govt.

Validated:
Buhari and APC are the cause of Nigeria s ulta poverty status. All this story means nothingness other than begging the issue. Truth is that Buhari, Osinbajo and Malami caused this. GEJ already intervened and struck a $850 million settlement. All Buhari was expected to do was pay. Rather because he trusts noone, he chose the court action.

Calling you the most foolish person in Nigeria is an understatement! GEJ signed the settlement deal, that made FGN guilty party to begin with. Secondly, Jonathan signed the settlement deal in 2013 when crude oil was around 120 dollars per barrel, he refused to pay the settlement for the remaining two years he spent on the seat. Buhari came in when crude oil was selling below 40 dollars per barrel, you want hang him for not paying. Are you sick or something?

michlins:
Hate or like Buhari and APC, $9bn is a whole lot of money anywhere in the world. Nigeria should do everything not to pay. This government has already laden the unborn generation with hefty debt. Add this and the future is sold off

God bless you, some are even saying he should not complain and pay, how do we even know if it's not a hatchet job by presidency or APC big wigs to defraud us more just like Malibu that every regime was eventually fingered.

VULCAN:
Its your type that got us into this mess to begin with.

You are too lazy to read the entire article but not too lazy to prescribe a solution.

A doctor who refuses to diagnose a patient but goes ahead to prescribe a course of treatment is nothing but a quack.

First don't call me lazy.

The real reason why I didn't finish the article was actually be cause of the introduction where the government was advised to seize assets such as the Bonga oil fields in retaliation as it is owned by a British firm.

This is arrant nonsense. Nigeria has no right to seize the assets of private companies. The case was between the the FG and a private Irish company. The thought shouldn't have propped up, how much more spoken out!

Every one counters my above statement should brush up his economics textbooks and read up limited liability and other types of business ownership's.

Secondly, arbitration was in the U.K. That was what the FG agreed to in the contract. I have signed such contracts before. They chose a neutral country.

Just the intro irked me enough not to digest the entire article. I sense there are incompetent advisers involved in this case

Now, what happened? Did the P & ID reject $600m earlier agreed because it was to be paid in installments, not trusting the government to fulfill all depend. Could it have been salvaged if it was a one off payment.

Or was the company irritated that it was further slashed down by FG to $350 with a $100m down payment and the balance paid in kind such as a marginal oil field?

Everything is just so f**ked up with our leaders, I thought our VP is a SAN certified and have been in that field for many years. This is a big grace to the country most especially this government.

Validated:
Buhari and APC are the cause of Nigeria s ulta poverty status. All this story means nothingness other than begging the issue. Truth is that Buhari, Osinbajo and Malami caused this. GEJ already intervened and struck a $850 million settlement. All Buhari was expected to do was pay. Rather because he trusts noone, he chose the court action. Now it has backfired. In legal parlance there is what is called plea bargaining. When you realise that you do not have a good case, you opt for plea bargaining, e.g plead guilty for lesser sentencing, rather than allow full trial that may result in heavy penalty. FG under GEJ took this option, but our "oversabi" APC leadrrs, thought otherwise. Now they are looking for who to blame. I have read some funny comments like, "sieze British and Irish assets". With our fledgling economy, you want to try nonesence agsinst the Brentwood and IMF connection? Your dream must be very BIG! Can Nigeria withstand two weeks sanctions on our oil? Even now, we are merely a surviving economy.
My suggestion is that APC should swallow their pride. Go on their knees to P$ID and beg. The Bible, in Luke 12 verses 58 & 59 says "When you go with your adversary to the magistrate, make every effort along the way to settle with him, lest he drag you to the judge, the judge deliver you to the officer, and the officer throw you into prison.I tell you, you shall not depart from there till you have paid the very last mite.” The FG has alowed Nigeria to be dragged to the court and now every Nigerian is at risk. I cannot just imagine the disastrous impact this would have on our economy. If this had happened in a country like Japan, all those who contributed to this disaster would be honoured with suicide. But here we are with Malsmi, Osinbajo, Buhari and even EFCC looking for who to blame for their disastrous outing.

Nigeria is finished

Chai

Kasala don burst

Nigerian youths are the most stupid creatures on the planet

By now there is meant to be nation wide protest across Nigeria

The government must be held accountable

They should take that dunce in Otuoke and lock him up. Nigerians don't love their country and i am very very sorry for youth. There will be no place to run any longer. The next few years are going to be tough and the problem is not Buhari. In fact you will learn the hard way that God has x-ray eyes and he is already judging people and things. The Trump Govt indictment of Nigerians youths, the xenophobic attacks in S. Africa affecting mostly youths and multiple busting of gangs in Europe and Asia..et.c they are pointing at a demographic that deceived itself and has chose the wrong role models in the permissive PDP era.

Gird your loins folks, the world has turned a hard place and you all will learn.

anonimi:


Was that not what "clueless" Jonathan did and successfully reduced the amount to $850m


www.nairaland.com/attachments/4184367_img20160901212519_jpeg78b79ce1d41276755a59631319a61753

The situation is way past that. Besides, GEJ has not come out to clearly state why he scuttled the initial deal in the 1st place, that may help in negotiations going forward.

Nonsense when the trial was going on, FG sent no legal representation and did not take it seriously so why cry foul when the judgement is made.
They thought UK was Nigeria where they flaunt court orders.
Now they are threatening UK assets, what's that got to do with a court judgement.
This judgement is AGF Malami's negligence and the executive dropping the ball