The English Commercial and Arbitration has ordered a stay of execution of the $9.6billion damages secured against Nigeria by Process and Industrial Developments (P&ID) pending the determination of an appeal by the Federal Government.

It however asked the government to make a security payment of $200million to the court.

The court also granted Nigeria’s leave to file an appeal against the award.

P&ID secured the damages against Nigeria following a failed Gas Supply Project Agreement (GSPA) contract between it and the Federal Ministry of Petroleum Resources.

A brief by the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN) from London said: “Stay of execution granted subject to payment of $200m security payment to court pending the determination of the appeal the leave for which has been granted by the commercial court

Source: https://thenationonlineng.net/breaking-9-6b-award-uk-court-orders-stay-of-execution-demands-200m-security-deposit/

Cc

$200M what? Perhaps the Irish firm have also learnt the trick from the present fraudulent govt whose cabal are just milking Nigeria mercilessly.

Buhari should just pay this guys their money...


or Nigeria can be paying installmentally distributed within a period of 3 years....maybe with 2% Interest...


FG should pay up please.

Buhari is working
Nextlevel doings

watin concern me

...

Hmmm.. .

Better late than never. If they have done this earlier, it would not have gotten this messed up.

British Government now wants to do Yahoo Yahoo

How about those that initiated this fake project?
Are they ghosts?

every angle is corruption in Nigeria

oyibo thieves!!

Who is paying who Dan Allah. Ayam compuse

I saw this coming. Whoelse?

There was indeed a country. Nigeria go still obviously pay this money any which way. Inept Govt. Let nobody tell me the contract was entered into by past government. Buhari has being in power for 5 years now! Govt is suppose to be a continuum.

resf

MelesZenawi:
Buhari should just pay this guys their money...


or Nigeria can be paying installmentally distributed within a period of 3 years....maybe with 2% Interest...


FG should pay up please.

Ah taya o

Buhari's "i dont care atitude" put on hot seat, he sees judiciary as a huge joke, sadly Nigeria is not about to find such atitude funny


..

Failed government

Pure dilemma.

[s]

itsme01:




Buhari's "i dont care atitude" put on hot seat, he sees judiciary as a huge joke, sadly Nigeria is not about to find such atitude funny


..

[/s]

Chai, please is this not up to N70,000,000,000! Just for stay of execution. Nigeria na real Maga for Oyinbo

UK wan use our money cushion the BREXIT misadventure effects.

Anyway it is form of surety right, let us pay it and then like Iran start dusting the files of SPDC and other British interest in Nigeria so that can understand we have small leverage.

The people who signed this type of deal and their supporters.... hmmm okay o.

Nigeria still has to pay P&ID $250m
Total to pay $450m within 2 months

God!
Buhari have killed us

oleh!