British court orders P&ID to pay £1.5m to Nigeria

11 September 2020 by VICTORIA ABAH

The Nigerian Government has appeared in the English High Court for a scheduled hearing.

The hearing followed the major victory secured by government last Friday, allowing it to bring a fraud challenge against a $10 billion arbitration award obtained by P&ID outside the normal time limits.

At the hearing, Cranston J ordered P&ID to make an interim payment of about £1.5 million within 21 days to cover legal costs the Nigerian Government incurred as part of its successful application for extension of time to challenge the arbitration award and procedural hearing earlier in the year.

A case management conference to determine the full trial window is scheduled to take place after November 2020.

A spokesperson of the Attorney General of the Federation said;

To date, P&ID and its financial backer VR Capital have not produced a single document or credible witness to challenge the FRN’s fraud evidence, instead, they continue to resort to disseminating misleading claims, while taking every step possible to delay or obstruct our investigations across multiple jurisdictions.

He added that the Nigerian government was firmly committed to overturning the injustice of the $10 billion award, and will not rest until justice is secured for the people of Nigeria, no matter how long it takes.

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