• Saturday, February 24, 2024
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UK court throws out $11bn P&ID claim against Nigeria

COKE

A major legal saga has come to an end with the UK High Court dismissing a $11 billion claim against Nigeria by Process & Industrial Developments Limited (P&ID).

The ruling, delivered on December 21, 2023, by Justice Robin Knowles pointed out that P&ID did not disclose the bribery when it proceeded to arbitration against Nigeria.

In a subsequent judgment issued on Thursday, he therefore declared that the damages should be nullified without delay, dismissing P&ID’s claim to return the case to arbitration.

Recall in October the High Court ruled that the contract procured by Process & Industrial Developments (P&ID) was through bribery and fraud.