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August 28, 2019 Federal Government Seeks A Stay Of Execution On The Award Of $9.6bn By A British Court

The Federal Government is seeking a stay of execution on the award of $9.6bn dollars by a British Court, against Nigeria to Irish company, P&IDLimited.

 

It has also directed the EFCC, theNational Intelligence Agency and the IG of Police to conduct a thorough investigation into Process and Industrial Developments Ltd which was recently asked by a UK court to seize $9.6bn dollars in Nigerian assets.

 

Minister of Information and Culture, LAI MOHAMMED, gave this indication at a news conference in Abuja.

 

Also at the briefing, the Minister of Justice, ABUBAKAR MALAMI said the decision was based on the fact that the Federal Government suspected foul play in the contract which was negotiated and signed in 2010.

   

On his part, the CBN Governor, GODWIN EMEFIELE said there was no proper documentation of the Gas project.

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