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Nigeria Wins As UK Court Quashes $11 Billion P&ID Award (25083 Views)

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Estello: 2:28pm On Oct 23, 2023
After over five years of legal fireworks, Nigeria has finally succeeded in halting the enforcement of the $11 billion arbitration award in favour of P&ID.

In a judgment delivered by email, Robin Knowles, justice of the Commercial Courts of England and Wales, upheld Nigeria’s prayer on the ground that the ill-fated gas processing contract was obtained by fraud.

TheCable had reported on Saturday that the much-awaited judgment would be delivered on Monday.

A private arbitration tribunal had on January 31, 2017 ordered Nigeria to pay $6.6 billion to P&ID plus interest beginning from March 20, 2013.

With the interest rate fixed at seven percent amounting to $1 million a day, the potential payment had accumulated to over $11 billion before the verdict.
https://www.thecable.ng/breaking-massive-victory-for-nigeria-as-uk-court-quashes-11bn-pid-award/amp

46 Likes 7 Shares

forgiveness: 2:32pm On Oct 23, 2023
Splendid

48 Likes 4 Shares

DonMarkuzi(m): 2:32pm On Oct 23, 2023
Nice one.

34 Likes 1 Share

seunmsg(m): 2:33pm On Oct 23, 2023
This is a welcome development. Kudos to President Bola Tinubu, former President Buhari, Malami, and every other person that fought against the corrupt deal. Thanks to the UK court for rescuing Nigeria from a corrupt deal put together by the Yar’adua and Jonathan PDP istration.

God bless Nigeria.

141 Likes 24 Shares

felihin: 2:33pm On Oct 23, 2023
Reduce The Traffic Stress...

Make We Run The Waka Waka To Helep You Deliver The Packages For You

Eniwia For This Obodo Lasgidi

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Afamed: 2:33pm On Oct 23, 2023
Glory to God
Shame to those unpatriotic Nigerians who collided with foreign agents with the intention of looting / robbing the country .

84 Likes 2 Shares

tommykiwi(m): 2:34pm On Oct 23, 2023
One of the best news coming Nigeria's way, since Agbadorains took over the affairs of our great country.

10 Likes 3 Shares

Appletek: 2:34pm On Oct 23, 2023
Thank God!

6 Likes 1 Share

bigdammyj: 2:34pm On Oct 23, 2023
Congratulations.

12 Likes 1 Share

celestialAgent(m): 2:34pm On Oct 23, 2023
Meaning in simple English, pls!

2 Likes 1 Share

FreeStuffsNG: 2:34pm On Oct 23, 2023
Wow!! Congratulations to Nigeria!

Thank you President Muhammadu Buhari for not allowing these thieves rob us.

Now EFCC can proceed to finish their prosecution of all the unpatriotic elements who colluded with them here in Nigeria.

All the enemies of Nigeria will lose las las. They always lose. God bless Nigeria for ever!
Check my signature for free stuffs!

66 Likes 8 Shares

Macdeey: 2:35pm On Oct 23, 2023
grin

Former Justice Minister.... Abubakar Malami right now

25 Likes 3 Shares

ANormalHuman: 2:35pm On Oct 23, 2023
This is where justice system works.

Cos honestly I don't understand two sets on human beings here on Nairaland.

1. The ones that will Hamas in a war and call Israel terrorists, meanwhile Hamas came in and killed 1400 people in Israel for no reason. And Israel clearly warned civilians to evacuate before they retaliated.

2. The idiots that link every argument to politics, ethnicity and religion.

34 Likes 3 Shares

panpan(m): 2:35pm On Oct 23, 2023
What a relief! smiley

5 Likes

wunmi590(m): 2:35pm On Oct 23, 2023


Good

4 Likes 1 Share

aieromon(m): 2:35pm On Oct 23, 2023
Lovely piece of news.

5 Likes 1 Share

Iziquiel(m): 2:35pm On Oct 23, 2023
Estello:

https://www.thecable.ng/breaking-massive-victory-for-nigeria-as-uk-court-quashes-11bn-pid-award/amp

Great news.

The EFFCC should go after those Nigerians who connived with foreign national to defraud Nigeria.

There should be grave consequences for actions like these.

11 Likes 1 Share

BreconHills(m): 2:35pm On Oct 23, 2023
Good news. Those insiders who attempted to bilk their own country can remain in the disgraceful shadows they have made for themselves.

19 Likes 4 Shares

sukkot: 2:35pm On Oct 23, 2023
wink

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Gangster1ms: 2:35pm On Oct 23, 2023
Better to award P&ID that money cos Nigerian politicians will still squander the resources

2 Likes

Toosure70: 2:36pm On Oct 23, 2023
Proudly naija

4 Likes 1 Share

PussyKing(m): 2:37pm On Oct 23, 2023
M
Maize247(f): 2:37pm On Oct 23, 2023
If you are not happy with this new, You are not patriotic and an enemy of the state

24 Likes 5 Shares

minakom: 2:37pm On Oct 23, 2023
Good one

13 Likes 3 Shares

scribble: 2:37pm On Oct 23, 2023
Hmmm

Can future generation of Nigerian leaders and civil activists get all the loans obtained by APC leaders declared as fraudulent especially due to election rigging and forgery frauds that the APC have proven themselves to be.

Olodos that don't have certificate can't be obtaining loans for intellectuals to repay. This is for Buhari and Tinubu

1 Like

Salewa97: 2:37pm On Oct 23, 2023
Nice. God bless Nigeria.

That $11billion would have crippled everything if we had lost the case.

55 Likes 1 Share

leisuretym: 2:38pm On Oct 23, 2023
cheesy
yewit37486: 2:38pm On Oct 23, 2023
Great news. We have enough on our plate right now to add this to it.

8 Likes 1 Share

Antoeni(m): 2:38pm On Oct 23, 2023
This What you get When Justice is Served Justly, Hope Nigeria Judges Learn
Kukutente23: 2:38pm On Oct 23, 2023
Lol. As dem see say money no dey to pay

2 Likes

Guyman01: 2:38pm On Oct 23, 2023
What happens to all those behind this fraudulent contract, until we begin to punish people behind this kind heist severely it would not stop

14 Likes 1 Share

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