FG denies alleged non-diligent defence of $9.6bn judgment debt case
- Alhaji Lai Mohammed has revealed more details on the $9.6bn judgment debt case involving Nigeria
- The minister of information and culture said the insinuation in certain quarters that the government did not defend the case is false
- The minister said that after the award in July 2015 by the arbitration panel sitting in London, the government went into negotiations with the company, but all to no avail
The federal government has denied allegation that it did not diligently defend the case leading to the award of 9.6 billion dollars judgment debt against it over a botched gas contract.
Minister of information and culture, Alhaji Lai Mohammed gave the government position when he appeared as guest on television programme.
He said the insinuation in certain quarters that the government did not defend the case both at arbitration and court stages was “untrue and unfair.’’
“It is not true that we did not defend it or we were not represented,’’ he said.
He said the government successfully applied to have the award set aside by the Federal High Court in Lagos, but the tribunal ignored this decision.
His words: “The contract was entered into in 2010 and from the records made available, there were three arbitrators.
“The arbitrators were the parties to be nominated by the company, the other by the Ministry of Petroleum Resources while the two of them will agree on the third arbiter.
“Nigeria was represented on the arbitration by the former Attorney-General of the Federation and Minister of Justice, Chief Bayo Ojo (SAN).’’
The minister said that after the award in July 2015 by the arbitration panel sitting in London, the government went into negotiations with the company, but all to no avail.
He said that when the company also filed the case for the enforcement order in both the UK and the U.S. courts simultaneously, the government engaged services of solicitors to defend the action.
“We succeeded to some extent in the U.S. court and our lawyers are still there trying to defend the action,” he said.
A UK court had in a ruling authorised an Irish engineering and project management company, Process and Industrial Developments Ltd. (P&ID) to seize 9.6 billion dollars in Nigerian assets over the failed contract.
The court judgment was fallout of the contract purportedly entered into in 2010 between the Federal Ministry of Petroleum Resources and P&ID and the subsequent award made in July 2015 by an arbitration panel sitting in London in favour of the company.
NAIJ.com (naija.ng) -> Legit.ng. We have upgraded to serve you better.
Is President Buhari Really Doing Badly As Nigeria's Leader? - Nigeria Street Gist | Legit TV
Source: Legit.ng
