P&ID Update: FG To Appeal British Court Order Over Seizure Of $9bn

The Federal Government has directed its Solicitor-General to appeal the ruling by Justice Butcher of the UK Commercial Court that an Irish company P&ID can seize Nigeria’s assets worth $9 billion. Africa News24 (AN24) understands Nigeria and the Irish company had been at legal battle over had been over a failed gas supply agreement with […]

British Court Grants P&ID Permission To Seize $9bn From Nigerian Assets

An Irish-owned firm, Process and Industrial Developments Ltd (P&ID) was today granted court permission to seize up to $9bn (£7.4bn) in assets belonging to the Nigerian government. Mr. Justice Butcher of the British Commercial Court said that the firm can take 20 per cent of Nigeria’s foreign reserves, a move that would deal a devastating […]