FG applauds UK court of appeal decision in P&ID case

The Federal Government of Nigeria has commended the United Kingdom Court of Appeal for its recent decision validating Nigeria’s claim for post-judgment costs in the USD 11 billion P&ID case to be paid in Pound Sterling (GBP).

P&ID had attempted to significantly reduce the total amount by arguing that Nigeria should only recover its costs in Naira, which would have resulted in a much lower sum. However, the UK Court of Appeal dismissed this claim, ruling in favor of Nigeria.

The Solicitor General of the Federation and Permanent Secretary, Mrs. Beatrice Jedy-Agba, announced the court’s decision, stating, “Today, the United Kingdom Court of Appeal validated Nigeria’s claim for the post-judgment costs to be paid in Pound Sterling, which P&ID tried to reduce drastically by claiming that Nigeria should only be entitled to recover its costs in Naira.”

Following Nigeria’s success in defeating the fraudulent USD 11 billion claim by P&ID last year, the country continues its efforts to recover substantial costs from P&ID and its financial backers. Mrs. Jedy-Agba highlighted the Hon. Attorney-General of the Federation and Minister of Justice, Lateef O. Fagbemi’s satisfaction with the latest victory, which emphasizes Nigeria’s fight against corruption and extortion by litigation hawks.

“This ruling is another misconceived and desperate attempt by fraudsters to deprive the Nigerian people of hard-earned public revenue,” Jedy-Agba said, assuring that the Nigerian government remains determined to recover the costs and hold P&ID and its U.S. funders accountable for their scam, serving as a deterrent to others.

She also praised the dedication and tenacity of Nigeria’s legal team for their achievement in this case.