FG Moves To Challenge UK Court’s $9.6bn Judgment Against Nigeria

Lai Mohammed

The Federal Government has disclosed that it will challenge the decision of a British court ordering the seizure of Nigeria’s assets worth $9.6 billion and its subsequent handover to an Irish company.
Lai Mohammed, Minister of Information and Culture, stated the government’s position at a joint press conference in Abuja on Tuesday.
A court sitting in London had on August 16, ruled in favour of Process and Industrial Development Limited (P&ID) to seize assets of Nigeria to the tune of $9 billion.

The order was issued after the company had filed a case against the Nigerian government, with the former accusing the latter of reneging on a 20-year Gas and Supply Processing Agreement (GSPA) signed in 2010.