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Malami, Emefiele lead delegation to battle $9.6bn P&ID judgement in UK

Malami, Emefiele lead delegation to battle $9.6bn P&ID judgement in UK
September 23
07:50 2019
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Abubakar Malami, attorney-general of the federation (AGF), and Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), have led a federal government delegation to the United Kingdom to seek legal solution in the Process and Industrial Development Limited (P$ID) case.

The delegation, which left Nigeria on Saturday, also included Mohammed Adamu, inspector-general of police (IGP); Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), and Lai Mohammed, minister of information.

In January, a British court gave P&ID, an Irish engineering company, the fiat to seize Nigerian assets worth $9 billion.

This followed a suit filed by P&ID alleging the non-execution of a 20-year gas and supply processing agreement (GSPA) it had with the federal government.

Speaking on Sunday, Malami said the federal government is considering different options that can set aside the ruling of the British court against Nigeria.

“All cards are on the table, but it all depends on the one that has potency for setting aside the award having regards to the applicable law in the circumstances,” the minister said.

“No possibility is ruled out. The options available to us include the possibility of filing a new case and or using existing proceedings to seek relief of setting aside the award (of the contract). Nothing can be ruled out.”

On Thursday, a federal high court in Abuja ordered the forfeiture of P$ID assets to the government, after representatives of the company pleaded guilty to an 11-count charge of economic sabotage and money laundering.

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