Following Nigeria’s 11b debt victory 3 months ago, a London-based court directed the process and Industrial Development (P& ID) to pay the Federal Government £20 compensation within 28 days.
This order was released on Friday after a court sitting in London.
Yesterday’s court ruling took place to determine the next court’s decision and to see if P & ID would be given a chance to appeal.
The London-based court has denied P & ID a chance to negotiate its ruling due to its questionable behaviour during the judgment.
The Federal Government requested a payment of £20 for damages that were incurred. However, the lawyers for P&ID pleaded with the court to allow payment in Naira, which was denied. The company lawyers then appealed to the court to allow payment in Naira, but their request was also rejected after the court ruling.
News.ng recalls that in October Justice Robin Knowles of a London court declared Nigeria winner of a five-year case of fraudulent gas contract.
The justice said not all allegations by Nigeria were acceptable but according to section 68, any severe abnormalities by the tribunal or the proceedings should be forwarded in full or in part of the award to the tribunal, and the award should be of no effect partly or as a whole.
Justice Robin Knowles said he is asked by Lord Wolfson KC if the judgment closes in favour of Nigeria to provide a forum for the commencement of hearing by both parties.
In 2010 P & ID agreed to build a gas plant in Nigeria, later on, P & ID claimed Nigeria had breached the agreement, and the company went ahead to secure an arbitral award against Nigeria.