The Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN) has hailed the decision of a United Kingdom (UK) agreeing to Nigeria’s claim of cost after the voiding of the $11billion award got against the country by Irish firm, Process and Industrial Development (P&ID).
In a statement on Friday by his spokesman, Kamardeen Ogundele, the AGF said he was delighted about the development, which was just communicated to him by Nigeria legal representatives in the UK
The statement reads: “Today (being the 12° day of July 2024), the United Kingdom Court of Appeal validated Nigeria’s claim for the post-judgment costs to be paid in Pound Sterling (GBP), which P&ID tried to reduce drastically by claiming that Nigeria should only be entitled to recover its costs in naira, which evidently will produce a much lower cost.
“This was another misconceived and desperate attempt by fraudsters to deprive the Nigerian people of hard-earned public revenue.
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“The Hon. Attorney-General of the Federation, Lateef O. Fagbemi, SAN is delighted at a report just received from our UK solicitors on the latest victory recorded by Nigeria in its fight against corruption and extortion by litigation hawks.
“Consequent upon our success in defeating the fraudulent USD 11 billion claim by P&ID last year, Nigeria is continuing its efforts to recover its substantial costs from P&ID and its vulture fund backers.
“As a government, we are very determined to recover these costs and make P&ID and its US funders pay for their scam so as to serve as a deterrence to others of their ilk.
“We commend the dedication and tenacity of our legal team for this accomplishment. “