SUPREME COURT RULING PATH TO LABOUR PARTY'S PEACE AND UNITY - OTTI. (PHOTO)

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 Supreme court ruling path to Labour Party's peace and unity - Otti Abia State Governor Alex Otti has welcomed the Supreme Court's decision to remove Julius Abure as National Chairman of the Labour Party. According to Governor Otti, this ruling will usher in a new era of peace, unity, and order within the party. The Governor believes the Supreme Court's judgment vindicates the party's leadership, particularly since Abure's National Working Committee tenure had long expired. This led to the establishment of a National Caretaker Committee, headed by Esther Nenadi Usman and Darlington Nwokocha, with a vision to foster peace and unity while strengthening the party. The Supreme Court's decision is seen as a step towards restoring peace and unity within the Labour Party, validating the party's leadership and the decision to set up a caretaker committee. Governor Otti has invited former national officers to join hands with the National Executive Committee and the N...
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UK COURT FIXES OCT 23 FOR JUDGMENT IN P&ID'S $11BN SUIT AGAINST NIGERIA. (PHOTO).

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UK court fixes Oct 23 for judgment in P&ID’s $11bn suit against Nigeria

The Business and Property Court in London has fixed October 23 to deliver verdict in a case between the federal government of Nigeria and Process & Industrial Developments (P&ID) Ltd.

The judgment will be delivered by Robin Knowles, a judge.

P&ID had entered into an agreement with Nigeria in 2010 to build a gas processing plant in Calabar, Cross River state, but the company said the deal collapsed because the Nigerian government did not fulfill its end of the bargain.

Claiming Nigeria breached the terms of the contract, P&ID took a legal recourse and secured an arbitral award against the country.

On January 31, 2017, a tribunal ruled that Nigeria should pay P&ID $6.6 billion as damages, as well as pre-and post-judgment interest at 7 percent.

Following the judgement, Nigeria applied for an extension of time and relief from sanctions.

The application was granted by Ross Cranston, a judge of the Business and Property Courts of England and Wales, in September 2020.

Nigeria had alleged that the gas deal was a scam conceived to defraud the country.

Lawyers representing the federal government told the court that P&ID officials paid bribes to secure the contract.

But P&ID denied the allegation and accused the Nigerian government of “false allegations and wild conspiracy theories”.

WITH INTERESTS, AWARD NOW $11 BILLION

In a March trial at the court, Nigeria alleged that the contract was secured through dishonest means that included bribery and perjury and that the arbitration award, which has now risen to $11 billion because of interests, should be quashed.

In September, TheCable reported that representatives of P&ID were actively seeking negotiations with the federal government to reach an out-of-court settlement.

This development stemmed from growing indications that Nigeria might achieve a favourable outcome in its legal challenge against the arbitral award.

The lobbyists also reached out to senior officials of the ministry of justice to help pile pressure on President Bola Tinubu, who is said to believe that P&ID does not have a good case against Nigeria.


 

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