President Bola Ahmed Tinubu has commended a United Kingdom Court’s Judgement, awarding to the Federal Government of Nigeria, a landmark victory over a fraudulent firm known as Process & Industrial Development (P&ID) Limited.
Following the decision by Judge Robin Knowles of the Business and Property Court in London to dismiss the $11.5 billion value of the award plus accumulated interest, previously won by P&ID over alleged failed 2010 deal, the Nigeria president commends the UK court for prioritising the merits of the case above all other considerations.
Tinubu said: “This landmark judgment proves conclusively that nation-states will no longer be held hostage by economic conspiracies between private firms and solitarily corrupt officials who conspire to extort and indebt the very nations they swear to defend and protect.
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“Today’s victory is not for Nigeria alone; it is for our long-exploited continent and for the developing world at large, which has for too long been on the receiving end of unjust economic malpractice and overt exploitation.
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“Nigeria is appreciative of the tremendous efforts of the defence team and acknowledges the role of the Federal Ministry of Justice and the Office of the Attorney-General in defending Nigeria’s interest in this case,”
