Legal representatives acting on behalf of the Nigerian federal government informed the court that officials from P&ID allegedly offered bribes to secure the contract.
However, P&ID vehemently refuted this accusation and instead accused the Nigerian government of making baseless allegations and promoting unfounded conspiracy theories. This application was approved by Ross Cranston, a judge in the Business and Property Courts of England and Wales, back in September 2020.
Nigeria had asserted that the gas deal was a fraudulent scheme designed to deceive and defraud the nation. Finally, Nigeria has achieved a significant milestone by halting the enforcement of the $11 billion arbitration award in favor of Process & Industrial Developments (P&ID) Limited.
In a verdict delivered by Justice Robin Knowles of the Commercial Court of England and Wales on Monday, the court supported Nigeria’s request, citing that the problematic gas processing contract was acquired through fraudulent means.
On January 31, 2017, a private arbitration tribunal had ordered Nigeria to make a payment of $6.6 billion to P&ID, along with accrued interest dating back to March 20, 2013. Subsequently, in the aftermath of this ruling, Nigeria sought an extension of time and relief from sanctions.
