P&ID Arbittration

P&ID Arbittration - CASE UPDATES

Federal Republic of Nigeria and P&ID-1

This is a major step forward in our bid to overturn the injustice of the US$9.6 billion award.

The challenge argues that the gas supply and processing agreement (GSPA) is based on fraud and corruption and that the subsequent arbitral process was riddled with irregularities and deliberately concealed from the rest of the Government.²

Based on new evidence that has come to light in recent investigations, it is now clear that the original contract was a sham commercial deal designed to fail from the outset.³ The Federation has strong reasons to believe that this is a highly orchestrated scam to deliberately strip Nigeria of our assets and our future.⁴

On 6 December 2019, the Federal Republic of Nigeria filed a new and substantive challenge in the English Courts, in our ongoing fight against the vulture-fund-backed P&ID.¹

The Federation has recently expanded its legal team, to include leading London law firm Mishcon de Reya. The team is led by Shaistah Akhtar, Partner, and Mark Howard QC of Brick Court Chambers. The expansion will enable the Government to launch in full our investigations and challenges.

The Federal Republic of Nigeria and P&ID-2

Please contact This email address is being protected from spambots. You need JavaScript enabled to view it. with any queries

Overview

Since 2012, the vulture fund-backed shell company P&ID has attempted to enforce a sham contract procured on the basis of fraud against the people of Nigeria.

The Economic and Financial Crimes Commission have uncovered clear evidence of “seismic” levels of corruption in the contract. Unfortunately, that corruption went to the highest levels of the previous government.[1]

Nigeria now face a situation where a shell company with little credibility could be paid a sum greater than five times the country’s education budget.

P&ID was created and run by a failed record producer from Ireland. He had no substantive experience managing a major infrastructure project. The company is now registered in the British Virgin Islands, with no assets other than this debt.[2]

The contract is a clear example of a highly orchestrated scam. The Buhari administration is working to crack down corruption and has successfully arrested and charged a number of high-level officials. Its investigations are complex and ongoing.[3]

It is telling that, despite many opportunities to do so, P&ID have failed to address the allegations of fraud and corruption levelled against them.

Media Center

P&ID Arbitration

P&ID Arbittration