Nigeria has secured a major victory in its challenge of the $10billion award got against it by an Irish firm, Process and Industrial Development (P&ID) over the controversial gas supply and processing agreement (GSPA).
The Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, in a statement on Friday, said Nigeria got the nod of an English court to commerce the process of challenging the award made against the country by an arbitral panel, which was later sanctioned by a United Kingdom court.
The statement by Malami’s media aide, Dr. Umar Gwandu reads in part: “The English court has today delivered an unprecedented judgment, allowing the Federal Republic of Nigeria (FRN) permission to proceed with its challenge to the $10 billion arbitral award made against it over three years ago.
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