Tinubu’s Government to Receive £20m Within 28 Days From $11bn Court Case

Dec 9, 2023 | Uncategorized


President Bola Tinubu-led government is expected to receive the sum of £20 million as damages and compensation from the Process & Industrial Developments (P&ID) Limited following the victory of Nigeria in an $11 billion court case.

According to Arise TV, a United Kingdom Court on Friday, December 8, directed the P&ID to pay the money to Nigeria following its loss in an $11 billion judgment debt case which was heard in October.

According to the UK court, the company must pay the money to Nigeria within the next 28 days.

The £20 million award was disclosed while the court was delivering a consequential ruling on the case that was heard in London on Friday to find out the next move after the October ruling.

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The report also disclosed that the Friday hearing was also meant to find out if the P&ID can get permission to appeal the case.

According to the report:

“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 judgment.”

Source: Legit.ng



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