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$9.6b P&ID Judgement Debt: Buhari meets with Malami, others

As Nigeria continues to explore ways out of the $9.6b , about N3.5trillion judgement debt awarded Process and Industrial Developments Ltd. P&ID, President Muhammmadu Buhari is currently holding closed door meeting with revenant government officials including Justice Minister, Abubakar Malami and others.

Recall that a UK court ruling which authorized an Irish engineering and project management company, Process and Industrial Developments Ltd. (P&ID) to seize $9.6 billion in Nigerian assets over the failed contract, had sparked off reactions, forcing the government to institute action into the matter

Members of some civil society groups also embarked on protest in Abuja on Monday condemning the judgement.

But the President had earlier directed the Economic and Financial Crimes Commission EFCC and other relevant anti-graft agencies to study the judgement and advice it on the next line of action.

Monday meeting which is also being attended by the officials of the EFCC, may not be unconnected with government position to find out the best way of getting the country out of the quagmire created by the judgement

Details later…

 

Tony Ailemen, Abuja

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