Nigeria: $9.6bn Judgment - Ex-CJN Belgore May Be Arraigned in FCT Court

23 September 2019

Lagos — A former Chief Justice of Nigeria, Justice Alfa Belgore may be arraigned before the Federal Capital Territory, High Court, over his alleged role in the $9.6bn debt judgment against Nigeria arising from the 20-year Gas Supply Processing Agreement entered into in 2010 with Process and Industrial Developments Ltd. (P&ID).

A source disclosed this to our correspondent yesterday.

The former CJN is said to have provided legal consultancy service to the Process and Industrial Developments (P&ID) during the case that got it the debt judgement.

Meanwhile, the Nigerian delegation has left for the United Kingdom to discuss with its legal team on strategies to deal with the $9.6bn UK judgment against Nigeria

A statement yesterday from the Office of the Attorney General of the Federation and Minister of Justice, Abubakar Malami, disclosed this.

The Federal High Court in Abuja had Thursday ordered the winding up of P&ID and its Nigerian affiliate, P&ID Nigeria Limited, for charges of fraud and tax evasion in respect of the contract leading to the recent controversial judgment of a British court empowering the firm to seize about $9.6bn worth of Nigerian assets.

The federal government is seeking the leave of the court to set aside the $9.6b damages; a stay of execution of the award and approaching an appellate court if its application is refused.

Malami was quoted as saying that "All cards are on table."

The minister said no possibility was ruled out.

He said: "The possibility of filing a new case and or using existing proceedings to seek relief of setting aside the award (of the contract) cannot be ruled out".

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