‘Thank You Muhammadu Buhari’ – Bashir Ahmad Reacts As Nigeria Wins P&ID Court Case

Former presidential media aide, Bashir Ahmad has praised former President Muhammadu Buhari for the role he played in the P&ID case involving Nigeria.

According to him, the refusal of Buhari to pay an out-of-tribunal agreement sum of $850 million negotiated by the government of Goodluck Jonathan and instead, seek legal options, set the tone for the victory won by Nigeria in the case.

He also said the P&ID issue started when former President Jonathan’s government reached an agreement with the British Virgin Island-based firm.

Naija News recalls Justice Robin Knowles of the Commercial Courts of England and Wales on Monday ruled in favour of Nigeria and quashed the enforcement of the $11 billion arbitration award in favour of Process & Industrial Developments (P&ID) Ltd.

The judge, in a ruling delivered by email on Monday, upheld Nigeria’s prayer on the ground that the ill-fated gas processing contract was obtained by fraud.

Reacting to the court order, Ahmad wrote: “The P&ID issue started when former President Goodluck Jonathan’s government reached an out-of-tribunal agreement for the payment of $850 million and passed on disbursement to the administration of President Buhari. But Muhammadu Buhari baulked at the idea of paying the negotiated sum, set aside the settlement agreement, and challenged the enforcement of the award before the English Commercial Court. But the London court added $2.4 billion in interest, making it $9bn.

“The judge granted Nigeria’s request for a stay on any asset seizures while its legal challenge is pending, but ordered it to pay $200 million to the court within 60 days to ensure the stay. It also must bear some court costs to P&ID within 14 days.

“The original decision on Aug. 16 converted an arbitration award held by P&ID to a legal judgment, which would allow the British Virgin Islands-based firm to try to seize international assets.

“Nigeria then began investigating the company through the EFCC. It found evidence of two bank transfers totaling $20,000 made by Dublin-based Industrial Consultants (International) Ltd. — part of the P&ID group of companies — to Grace Taiga, a Nigerian government lawyer who oversaw the award of the gas plant contract.

“Today, all Nigerians celebrate the victory at the Business and Property Court in London.

“Thank you, Muhammadu Buhari.”