• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 15, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

‘$11bn Trial In London Court To Reveal Monumental Corruption In Nigeria’

by Chika Izuora
3 years ago
in Business
Court
Share on WhatsAppShare on FacebookShare on XTelegram

A British lawyer representing Nigeria, in a London court case in which $11 billion are at stake, said on Friday the trial would reveal corruption ‘on an industrial scale,’ not only of Nigerian officials but also of British lawyers.

Advertisement

The case stems from a contract for a gas project awarded by Nigeria in 2010 to a company called Process and Industrial Developments Limited (P&ID). The gas processing facility never materialised, for reasons that are disputed.

After years of legal wrangling, a London-based arbitration tribunal said in 2017 that Nigeria had not fulfilled its side of the contract and should pay P&ID $6.6 billion in compensation. With interest, the award is now worth $11 billion.

That sum represents close to 30% of Nigeria’s foreign exchange reserves, which stood at $37 billion at the end of November.

Nigeria has gone to court in London arguing that P&ID obtained the original contract through bribery and used the arbitration proceedings as a means of extorting a huge sum of money from Nigerian public coffers.

RELATED

Maximize Your Profits With BYDFi’s Trading Bots For Bitcoin, Ethereum, and Ripple

Maximize Your Profits With BYDFi’s Trading Bots For Bitcoin, Ethereum, and Ripple

14 hours ago
Dangote Refinery

Labour, Experts Back Dangote, Say Govt Refineries May Never Work

16 hours ago

P&ID denies this and says Nigeria is trying to get out of paying what it owes.

An eight-week trial is due to start in January at the High Court in London, with witnesses appearing in person as well as remotely from Ireland and from Nigeria.

At a pre-trial review on Friday, lawyer Mark Howard, representing Nigeria, told the court that evidence of “widespread corruption and bribery on an industrial scale” would be put forward.

“Our case is it was bribery to get the contract, ongoing bribery to keep everyone on board, bribery of lawyers,” he said, alleging that two London-based British lawyers previously involved in the case had committed “serious misconduct.”

P&ID was originally established by two Irish nationals. Ownership of the firm has since passed to two Cayman Islands-based entities.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



SendShareTweetShare
Previous Post

Federal Govt Resumes Abuja-Kaduna Passenger Train Services Monday

Next Post

Nexim Bank Director, Okotete Bags Professional Fellowship Doctorate

Chika Izuora

Chika Izuora

You May Like

Maximize Your Profits With BYDFi’s Trading Bots For Bitcoin, Ethereum, and Ripple
Business

Maximize Your Profits With BYDFi’s Trading Bots For Bitcoin, Ethereum, and Ripple

2025/07/14
Dangote Refinery
Business

Labour, Experts Back Dangote, Say Govt Refineries May Never Work

2025/07/14
Africa Creates Job Clusters With Enhanced Gas Penetration
Business

$25bn Nigeria-Morocco Gas Pipeline Project Implementation Advances Further

2025/07/14
FAAN Reopens Port Harcourt Airport Runway For Flight Operations After Air Peace Mishap
Business

FAAN Reopens Port Harcourt Airport Runway For Flight Operations After Air Peace Mishap

2025/07/14
NCAA Digitises Operations For AOC, Licence Renewal
Business

Absence Of Board In NCAA, NAMA Threatens Safety, Fuel Job Racketeering

2025/07/14
Nigeria Needs 72 Edge Data Centres To Compete Globally – Nnamani
Business

$242.72bn At Risk As Data Centres Face Escalating Climate Threats

2025/07/14
Leadership Conference advertisement

LATEST

FULL LIST: Tinubu Appoints Akume, Wike, Ribadu, Others To C’ttee For Buhari’s State Funeral

Buhari Was A Spartan Soul In A Sea Of Extravagance — Aliyu Audu

PICTORIAL: Osinbajo, Dangote, Others Bid Awujale Farewell

‘Buhari Stood Firm When It Was Easier To Bend,’ Says Ex-SGF Boss Mustapha

PIA: Nigeria Must Win Battle Against $79.4m Daily Oil Theft — Kalu

Osimhen Close To Joining Galatasaray On Permanent Deal

King Of Morocco Pays Tribute To Buhari, Consoles Nigeria

Jonathan, Akufo-Addo Visit VP Shettima In London, Pay Tribute To Late President Buhari

Dafinone Hails Obaigbena As Nigerian Media Icon At 66

Buhari: Don’t Speak Ill Of The Dead, Shehu Sani Cautions Nigerians

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.