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The Chairman Senate Committee of Anti Corruption and Financial Crimes, Senator Suleiman Abdu Kwari has welcomed the ruling by a London Court to grant Nigeria reprieve to appeal the $9bn judgement debt that the country allegedly owes Process And Industrial Development, P&ID.
He said the ruling would offer Nigeria an opportunity to state it’s own side on the matter.
Senator Abdu Kwari said he believes that Nigeria will win the case and save the country billions of dollars.
He commended the EFCC and the Nigerian team led by the Honourable Attorney General who had gone to court to establish that the contract was awarded on illegal terms.
This latest ruling by Judge Ross Cranston in a London Court noted that; “Nigeria had established a strong prima facie case that the GSPA was procured by bribes paid to insiders as part of a larger scheme to defraud Nigeria”.
Recall that on the 31st of January, 2017 a court in London had ruled that Nigeria should pay P&ID $6.6bn as damages including a pre and post judgement interest at seven percent.
The outstanding is estimated to be in the region of $10bn.
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