Nigeria has been cleared of relief of any sanctions and given an extension of time to defend the $9.6bn Process and Industrial Development Limited (P&ID) case with the Judge giving a strong condemnation of the fraudulent nature of the contract, sources close to the government confirmed to BusinessDay.
As part of the judgment which was given today seen by BusinessDay, the presiding judge said :
Read also: India’s shortcomings in PSB licensing hold lessons for Nigeria
“In my view Nigeria has established a strong prima facie case that the GSPA was procured by bribes paid to insiders as part of a larger scheme to defraud Nigeria. There is also a strong prima facie case that P&ID’s main witness in the arbitration, Mr Quinn, gave perjured evidence to the tribunal and that contrary to that evidence, P$ID was not in a position to perform the contract.”
“For this reasons given, I grant Nigeria’s application for an extension of time and relief from sanctions”
This judgment was handed down by the judge remotely by circulation to the parties’ representatives by email. The date and time for hand-down was 10:30 AM on 4 September 2020.
The ruling is a major step forward in the bid to overturn the injustice of the US$9.6 billion award.
Details Later…
