FG Seeks Stay Of Execution Of $9.6bn Judgement Against Nigeria

The Minister of Information, Mr Lai Mohammed says the Federal Government is seeking a stay of execution on the award of 9.6 billion dollars by a British Court, against Nigeria to Irish company, Process and Industrial Development (P and ID).

At a press briefing on Tuesday, Mr Mohammed gave the assurance that Nigeria is not going to lose its assets to the company.

The Minister of Justice, Mr Abubakar Malami who was also in attendance alleged foul play in the award of the contract for the construction of a gas processing plant in Cross River State.

According to him, the Ministry of Petroleum cannot enter such an agreement without the NNPC.

Also addressing the matter, the CBN Governor, Mr Godwin Emefiele said the allegation by the company that they had invested 40 million dollars in the project is false since the government has no record of any such investment.

Meanwhile, the Minister of Finance, Mrs Zainab Ahmed described the judgement as unreasonable and an assault on all Nigerians.



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