Home / Latest News / Nigeria optimistic of setting aside 9.6bn judgment debt —Lai Mohammed

Nigeria optimistic of setting aside 9.6bn judgment debt —Lai Mohammed

The Minister of Information and Culture, Alhaji Lai Mohammed has expressed optimism that the entire arbitration decisions and judgment debt of N9.6 billion against Nigeria by a UK court over a botched gas contract would be set aside.

The Minister stated this in London while reacting to Thursday’s ruling by a UK commercial court staying execution of the 9.6 billion dollar judgment debt and granting leave for Nigeria to appeal the decision in the UK appellate court.

Mohammed noted that with the reprieve granted by the court, Nigeria has the opportunity to take appropriate steps to set aside the entire judgment debt in favour of an Irish company, Process and Industrial Developments Ltd (P&ID). “We now have a fresh opportunity of arguing our case and even filing separate suit to argue that the entire judgment be set aside.”

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