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Nigeria Files Fraud Charges Against P&ID In UK Court

 

The Nigerian Government has sued Process and Industrial Development Ltd for fraud in a United Kingdom court.

This was revealed to Reuters by a spokesperson for the country’s Minister of Justice, Abubakar Malami (SAN).

Nigeria can only set aside the award, which has now climbed to $10bn if it is able to prove in the foundation of the contract that corruption was at play.

“Nigeria’s new filings with the English court is an act of desperation to try to undo the court’s sound conclusion that P&ID’s $10bn award is enforceable,” a spokesperson for the British Virgin Island registered company claimed.

In September, Nigeria received permission to appeal the award judgment but was told to pay a bond of $200m if it intended to enforce a stay of execution while the appeal was in motion.

The government made the guarantee payment last week and added a British chamber to its legal team.

The trial is over a failed 2010 gas processing contract.

Details have since emerged accusing Michael Quinn, co-founder of being involved in several military scams and tax forgery.

The Economic and Financial Crimes Commission has made two arrests over the corruption so far.

 

Legal Politics News AddThis :  Original Author :  SAHARAREPORTERS, NEW YORK Disable advertisements : 


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