Nigeria Gets £20 Million From A UK Court In historic P&ID Case Victory
UK court has awarded Nigeria £20 million in damages and compensation in the long-running $11 billion P & ID case
The long-running legal dispute between Nigeria and Process & Industrial Developments Limited (P&ID) has taken a significant turn when a UK court granted Nigeria £20 million in damages and compensation.
In October 2023, P&ID's fictitious $11 billion arbitration award was quashed; this ruling represents another major win for Nigeria. According to Arise News Channel, “P&ID lawyers fought for payment in naira and tried to limit the amount payable to Nigeria as damages.”
The court did order P&ID to pay Nigeria £20 million within 28 days, though. Their appeal regarding the currency was also turned down. P&ID had tried to resurrect their claims through new arbitration after Nigeria's historic victory in October. The arbitration could not, however, continue while the 2023 judgment was still in effect, according to the London High Court.
The $11 billion award received by P&ID was declared to be fraudulent and in violation of the English Arbitration Act 1996 by Judge Robin Knowles in October 2023. In the arbitration hearings, his ruling exposed P&ID's illegal possession of privileged legal documents and bribery of Nigerian officials involved in the 2010 gas supply and processing agreement (GSPA).
“The court refused to grant P&ID permission to take the matter back to arbitration, saying that the company's conduct during the process was reprehensible and therefore it completely set aside the $11 billion judgement,” Arise News Channel added.
P&ID is presently requesting authorization to file an appeal of the October 2023 ruling. Nigeria's position in the case is further strengthened by this most recent ruling, which gives the nation £20 million and demonstrates its resolve to combat corruption and protect its interests.
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