- In a recent judgment on Monday in London, the Commercial Courts of England and Wales annulled the $11 billion award against Nigeria
- Presenting the motion, Nkemkanma noted that the UK court affirmed that the award for the gas project was obtained by fraud
On Wednesday, the House of Representatives decided to launch an investigation into the legal and service providers connected to the dispute between Nigeria and the foreign firm, Process and Industrial Development Limited (P&ID).
After a failed gas project, P&ID had initiated arbitration against Nigeria and was awarded $11 billion. Nevertheless, the Federal Government appealed, asserting that the gas processing contract had been secured through fraudulent means.
In a recent judgment on Monday in London, the Commercial Courts of England and Wales annulled the $11 billion award against Nigeria.
At the plenary on Wednesday, the lawmaker representing Ohaozara/Onicha/Ivo Federal Constituency, Ebonyi State, Kama Nkemkanma, brought a motion titled “Reversal of the $11bn arbitration award paid against Nigeria: Call for investigation of all legal and other services providers involved in the P &ID deal.”
Presenting the motion, Nkemkanma noted that the UK court affirmed that the award for the gas project was obtained by fraud.
The lawmaker said, “Nigeria has been involved in a fight with P&ID since the company accused the Nigerian government of botching a deal by failing to provide gas to them leading to the ugly situation where the country suffered a $6.6bn judgment debt in 2017 when the arbitration tribunal ordered the country to pay P&ID with interest to start counting from March 2013.
“Again, we are aware that the Economic and Financial Crimes Commission, in 2018, began investigating P&ID and found evidence of two bank transfers totalling $20,000 made by Dublin-based Industrial Consultants (International) Ltd. — part of the P&ID group of companies—to Grace Taiga, a Nigerian government lawyer, who oversaw the award of the gas plant contract, thus exposing the level of shoddiness and corruption around the entire process.”
Following its adoption, the motion was subsequently referred to the Committees on Justice and Financial Crimes for further input.