$9.6bn judgment: FG team in talks with lawyers


The Federal Government team has met with Nigeria’s legal team in London as part of a broader effort to secure a judgment overruling the verdict of a United Kingdom court asking Process and Industrial Developments Limited to seize $9.6bn in Nigerian assets.

The four-hour meeting was held inside the Nigerian High Commission in London.

According to a statement from his media office, the minister and his team had a meeting with Nigeria’s local and international legal team in the High Commission in London where briefings from the teams in Nigeria and UK were received.

Malami said the meeting was “for the purpose of developing strategies targeted at setting aside the award granted P&ID.

“We had series of press sensitisation engagements with Reuters and Financial Times among others, where we elaborated on the antecedence relating to the contract and entertained questions from the media,” he said.

Malami said the government took briefings from both the Nigerian and foreign lawyers  towards “developing strategies targeted at setting aside the ($9.6bn) award.”

He, however, did not give details of the decisions reached.

He said, “It is simply that we held a meeting with both Nigerian and international legal teams at the High Commission in London.

The Minister of Information, Lai Mohammed; Inspector-General of Police, Mohammed Adamu; the  Governor of the Central Bank of Nigeria, Godwin Emefiele; and the acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, are part of the delegation.


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