News
$11bn debt: Nigeria wins case against P&ID
Nigeria has won its case against the Process and Industrial Developments Company, P&ID..
In the case marked CL-2019-000752, the Federal Government sought to overturn an arbitration award in favour of P&ID which has now accrued interest worth $11 billion.
The company had claimed it entered into an agreement with Nigeria to build a gas processing plant in Calabar, Cross River State, but the deal collapsed because the Nigerian government did not fulfil its end of the bargain.
A London High Court has now delivered judgement in Nigeria’s favour.
-
Celebrity Gossip & Gist2 days ago
“This is hilarious” – Moment Police arrest Portable after attempting to run away over unpaid debt for his G-Wagon (Video)
-
Lifestyle2 days ago
Nigerian mother offers teen daughter beer, predicts she’ll ‘suck well’ when she grows up (Watch)
-
Celebrity Gossip & Gist2 days ago
“How many geopolitical zones do we have?” – Bisola, Tacha, VJ Adams and other Nigerian celebrities fail woefully during an interview (Video)
-
Economy2 days ago
Emefiele gets another N300m bail as he denies printing N684m notes with N18.96bn