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JUST IN: UK Court Grants FG Leave To Appeal $9.6bn Judgement

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Abubakar Malami

A United Kingdom court has granted the Federal Government leave to appeal the judgment that asked Process and Industrial Developments (P&ID) Limited to seize $9.6bn in Nigerian assets.

The P&ID secured the damages against Nigeria following a failed Gas Supply Project Agreement (GSPA) contract between it and the Federal Ministry of Petroleum Resources.

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami in a brief from London said, “Application for leave to appeal against the award and enforcement of the award is granted.

Application for stay of execution is currently being considered.

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