FG gets court grant to appeal $9.9bn P&ID judgement 

Judge Christopher Butcher of a London court on Thursday granted Nigeria a reprieve on the burdensome $9.9 billion awarded Process and Industrial Development (P&ID) over a botched 2010 wet gas contract.

He first granted the country’s application for leave to appeal against the award and enforcement.

He also granted the stay of execution of the award subject to payment of $200m security payment to court within 60 days, pending the determination of the appeal.

Attorney general and Minister of Justice, Abubakar Malami said in a statement immediately after the rose that the Federal Government’s team would study the rulings.

“We will study the court rulings, exercise the right of appeal and consider the legal options available at our disposal as it relates to the payment of $200m dollars in view of the 60 days window stipulated by the court.

“The steps we will consider are to study the ruling and act in a way beneficial to the interest of the nation.

Malami however, expressed happiness at the turn of events saying “I am pleased with today’s development in the court and see this as a positive resolution that constitutes an important step in the government’s efforts to defend itself in a fair and just process.

“We look forward to challenging the UK Commercial court’s recognition of the tribunal’s decision in the UK court of appeals uncovering P&ID’s outrageous approach for what it is: a sham based on a fraudulent and criminal activity developed to profit from a developing country” he declared.

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Butcher had on August 16, assumed jurisdiction over the $9.6 billion arbitration award granted Process and Industrial (P&ID) Limited but ordered a stay of execution until he gave a final ruling on the case to come up after court vacation.

But Federal Government had mobilised local and international lawyers and evidence of fraud to both confront the case and file fresh litigation to nullify the 2010 wet gas contract by proving that it was fraudulently obtained and crafted to fail from the start.

Already, the Economic and Financial Crimes Commission (EFCC) has expanded its probe into the deal by making formal requests for assistance from Irish law enforcement and the U.K.’s National Crime.

Acting Chairman, EFCC, Ibrahim Magu said the commission had evidence of two bank transfers totalling $20,000 made by Dublin-based Industrial Consultants (International) Ltd. part of the P&ID group of companies — to Grace Taiga, a former director of legal services at the Federal who oversaw the award of the gas plant contract.

The payments, in 2017 and 2018, were made from an Industrial Consultants account at Allied Irish Banks and were purportedly for “medical costs,” Bala Sanga, the lead prosecutor, said in the interview.

An Irish citizen who worked for Michael Quinn, one of the two founders of P&ID has been arrested and charged in Nigeria and remains in custody, according to Sanga, the prosecutor.

P&ID co-founder Brendan Cahill and Quinn’s son Adam will “in due course be charged,” he said, adding that he would seek the extradition of both men from Ireland to Nigeria.

Cahill and Quinn didn’t respond to an email seeking comment.