Posted on Mon 7 Sep 2020, 06:37 AM

Those named to have taken bribes in relation to the $10bn judgment obtained by the British Virgin Islands firm, Process and Industrial Development, against Nigeria, are  being investigated.

Attorney General of the Federation and Minister of Justice, Abubakar Malami, said this while featuring on Channels Television’s programme, Sunday Politics.

The minister also said some of them were being prosecuted. He put the figure of the bribes involved in the controversial P&ID contract at about $301m.

A United Kingdom court had, in a landmark judgment, on Friday, granted the Federal Government permission to challenge the final arbitral award delivered by a London arbitration tribunal in favour of P&ID and against Nigeria in January 2017.

The award which stood at $9.6bn as of 2019 has risen to $10bn.

The tribunal had held Nigeria liable for the alleged breach of a Gas Supply Processing Agreement it entered into with the P&ID in 2010.

But the Nigerian government had approached the UK court requesting an extension of time within which to challenge the final arbitral award on the basis that the GSPA and the award were tainted by fraud.

 

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