PID

P&ID: FG appears before UK court, as timetable sets in weeks

P&ID: FG appears before UK court, as timetable sets in weeks

The Federal Government has appeared before an English High Court for a scheduled case management conference, to decide certain procedural issues relating to Nigeria’s ongoing challenge against the enforcement of a $10 billion arbitration award obtained by BVI-based shell company, Process and Industrial Developments Limited, P&ID. The fraud trial will now follow, and a timetable […]
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P&ID: Court dismisses Briton’s plea for bail variation

P&ID: Court dismisses Briton’s plea for bail variation

The Federal High Court, Abuja, on Monday, dismissed the application for bail variation filed by a British man, James Nolan. Justice Okon Abang, who dismissed the prayer, said the application lacked merit and adjourned the case till Tuesday for the continuation of trial. He gave the ruling after he had taken the arguments of the […]

$9 billion case: Nigeria government files new lawsuit against P&ID

$9 billion case: Nigeria government files new lawsuit against P&ID

The Nigerian government has filed a new lawsuit against the management of British Virgin Island firm, Process and Industrial Development (P&ID). This is based on new evidence discovered days after a London high court received a bank guarantee of $200 million from the Federal Government of Nigeria to secure a stay of execution on asset […]

P&ID: Nigeria files fraud allegations in bid to overturn $10 billion penalty

P&ID: Nigeria files fraud allegations in bid to overturn $10 billion penalty

Lawyers for the Nigerian government on Friday filed “new and substantive” allegations of fraud with a British court in an ongoing fight against an arbitration award now worth some $10 billion, a spokesman for the attorney general said. The government has been fighting efforts by British Virgin Islands-based Process & Industrial Developments (P&ID) to enforce […]

P&ID: How we secured variation of UK court order on $200m deposit ―Malami

P&ID: How we secured variation of UK court order on $200m deposit ―Malami

By Ikechukwu Nnochiri – Abuja The Federal Government, on Friday, said it has succeeded in securing variation of the United Kingdom court order that previously mandated it to make cash payment of $200million as security, pending the determination of the appeal it lodged against Process and Industrial Developments Limited, P&ID. The Attorney General of the […]

P&ID: FG secures variation of UK court order on $200m deposit

P&ID: FG secures variation of UK court order on $200m deposit

By Ikechukwu Nnochiri – Abuja The Federal Government, on Friday, said it has succeeded in securing variation of the United Kingdom court order that previously mandated it to make a cash payment of $200million as security, pending the determination of the appeal it lodged against Process and Industrial Developments (P&ID) Limited, P&ID. The Attorney General […]