From The Court

$10Bn Judgement: English Court Orders P&ID To Pay Nigeria £1.5M Cost

Nigeria got an edge over Irish firm, Process and Industrial Development, P&ID, on Thursday as an English court ordered it to pay the country £1.5million within 21 days.

This is to cover legal costs incurred as part of its successful application for extension of time to challenge the $10billion arbitration award and procedural hearing earlier in the year.

Spokesman to the Attorney General and Minister of Justice, Abubakar Malami, Dr. Umar Jibrilu Gwandu stated that the country for a scheduled hearing to bring a fraud challenge against a $10 billion arbitration award obtained by vulture-fund-backed P&ID well outside the normal time limits.

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