The Nigerian Institute of Chartered Arbitrators has expressed worry over the recent ruling by Justice BUTCHER of the UK Commercial Court that an Irish company P&ID can seize Nigeria’s assets worth $9 billion.

Already, the Federal Government has directed its Solicitor-General, DAYO APATA to appeal the ruling and seek a stay of execution.

Nigeria and the Irish company had been at legal battle over a failed gas supply agreement entered into about twenty years ago with the Nigerian government.

Registrar of the Institute, SHOLA OSHODI-JOHN, said they ready to assist government in seeking redress on the award.

P&ID and Nigeria entered into a 20-year Gas and Supply Processing Agreement to build a state-of-the-art gas processing facility in Calabar but the Federal Government was adjudged to have failed to keep to its side of the bargain.