The Presidency on Friday reacted to the judgment by the UK Court granting Nigeria’s application for an extension of time and relief from sanctions in a $10 billion arbitration case with Process and Industrious Development Limited (P&ID) in Nigeria.
A statement issued by Garba Shehu, Senior Special Assistant to the President on Media and Publicity, said “In our view, the judgment is right, just and provides a strong prima facie case that the fraudulent gas deal with P&ID and the subsequent judgment debt of $10 billion against Nigeria was a clear attempt to cheat the country of billions of dollars by a company that had not invested one Naira in our country.”
The statement said on the arbitration award, it was a source of huge satisfaction that the UK Court, among others, had ruled that Nigeria has established a strong prima facie case that the Gas Supply and Processing (GSPA) was procured by bribes paid to insiders as part of a larger scheme to defraud Nigeria.
The presidency added that the court ruled that there was also a strong prima facie case that (P&ID) main witness in the arbitration, Mr Quinn, gave a perjured evidence to the Tribunal, and that contrary to that evidence, P&ID was not in the position to perform the contract.
The Presidency expressed delight with the processes that led to this outcome in the English Court, noting that it had given relief to the Nigerian government to further protect its national assets from criminally-minded organisations and individuals.
It added that the views of the UK court thus provided sufficient grounds for the Federal Government to go ahead and challenge the frauds perpetrated by the company and overturn the arbitration award.
The statement said President Muhammadu Buhari, therefore, commended the team of lawyers who represented Nigeria in the matter with P&ID, and reassured all well-meaning Nigerians and the international community of his unwavering commitment to fight corruption in all its forms and manifestation.