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UK Court Tells Gas Firm to Pay U.S.$200 Million Refund to Nigeria

A London commercial court has ordered that Nigeria be given the U.S.$200 million it deposited last year pending its appeal against the U.S.$10 billion awarded to Process and Industrial Development over a failed gas plant. The court last month ordered the firm to make an interim payment of more than U.S.$1.9 million to Nigeria to cover legal costs the country incurred as part of its successful application for an extension of time to challenge a ruling that the country must pay the company U.S.$9.6 billion.

Nigeria: P&ID - Emefiele Excited As London Court Orders Refund of Nigeria's $200m

Daily Trust, 29 September 2020

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has expressed excitement over the London Commercial Court's release of Nigeria's $200m earlier used as guarantee… Read more »
Nigeria: Govt Floors P&ID Again, UK Court Orders Release of $200m Guarantee to Nigeria

This Day, 30 September 2020

Nigeria yesterday recorded another victory in its ongoing legal tussle with the Process & Industrial Development (P&ID) Limited as a London Commercial Court ordered the… Read more »
Nigeria: P&ID - London Court Orders Release of $200m Guarantee to Nigeria

Premium Times, 29 September 2020

A London court has ordered the release of the $200 million guarantee placed as security by the Nigerian government in relation to the Process and Industrial Development (P&ID)… Read more »
Nigeria: UK Court Tells Gas Firm to Pay U.S.$200 Million Refund to Nigeria

This Day, 29 September 2020

A London Commercial Court Tuesday ordered the release of the $200million guarantee put in place as security for the stay of execution granted Nigeria for the appeal filed against… Read more »