{"id":893,"date":"2024-07-12T16:56:55","date_gmt":"2024-07-12T16:56:55","guid":{"rendered":"https:\/\/panoramanews.com.ng\/?p=893"},"modified":"2024-07-12T16:58:21","modified_gmt":"2024-07-12T16:58:21","slug":"fagbemi-uk-appeal-court-validates-nigerias-claim-for-post-judgment-cost-fg","status":"publish","type":"post","link":"https:\/\/panoramanews.com.ng\/index.php\/2024\/07\/12\/fagbemi-uk-appeal-court-validates-nigerias-claim-for-post-judgment-cost-fg\/","title":{"rendered":"P&#038;ID: UK Appeal Court validates Nigeria\u2019s claim for post judgment cost \u2013 FG"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-894\" src=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/07\/OIP-1-2-300x179.jpeg\" alt=\"\" width=\"300\" height=\"179\" srcset=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/07\/OIP-1-2-300x179.jpeg 300w, https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/07\/OIP-1-2.jpeg 332w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>Fagbemi<\/p>\n<p><span style=\"font-weight: 400;\">\u00a0A UK Court of Appeal has validated Nigeria\u2019s claim for the post-judgment costs to be paid in Pounds.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN made this known in a statement issued by his Special Adviser (Media) Kamorudeen Ogundele, on Friday in Abuja.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fagbemi said he was delighted at a report he received from Nigeria\u2019s UK solicitors on the latest victory recorded by the country in its fight against corruption and extortion by litigation hawks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cConsequent upon our success in defeating the fraudulent USD 11 billion claim by the Process &amp; Industrial Developments Limited (P&amp;ID) in 2023, Nigeria is continuing its efforts to recover its substantial costs from P&amp;ID and its vulture fund backers.\u2019\u2019<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He noted that the P&amp;ID had tried to reduce the amount drastically by claiming that Nigeria should only be entitled to recover its costs in Naira which evidently will produce a much lower cost.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThis was another misconceived and desperate attempt by fraudsters to deprive the Nigerian people of their hard-earned public revenue.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAs a government, we are very determined to recover these costs and make P&amp;ID and its US funders pay for their scam so as to serve as deterrence to others of their ilk.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe commend the dedication and tenacity of our legal team for this accomplishment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">NAN reports that in 2023, in the long-running legal battle between P&amp;ID and the Nigerian government, a UK court awarded Nigeria 20 million pounds in damages and compensation in the long-running $11 billion P &amp; ID case.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That ruling followed Nigeria\u2019s historic victory in October 2023, which saw the court quash the fraudulent 11 billion dollar arbitration award in favor of P&amp;ID.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">NAN reports Nigeria sought at least 20 million pounds back from P&amp;ID to cover its damages and legal fees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But P&amp;ID lawyers tried to limit the amount it would pay to Nigeria as damages, and they argued that the money would be paid in naira.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">P&amp;ID had filed for fresh arbitration to revive their claims against Nigeria for alleged breach of a 2010 gas supply agreement. NAN<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fagbemi \u00a0A UK Court of Appeal has validated Nigeria\u2019s claim for the post-judgment costs to be paid in Pounds. The&hellip;<\/p>\n","protected":false},"author":1,"featured_media":894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2],"tags":[103,300],"class_list":["post-893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","category-news","tag-lateef-fagbemi","tag-pid"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>P&amp;ID: UK Appeal Court validates Nigeria\u2019s claim for post judgment cost \u2013 FG - Panorama News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panoramanews.com.ng\/index.php\/2024\/07\/12\/fagbemi-uk-appeal-court-validates-nigerias-claim-for-post-judgment-cost-fg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"P&amp;ID: UK Appeal Court validates Nigeria\u2019s claim for post judgment cost \u2013 FG - Panorama News\" \/>\n<meta property=\"og:description\" content=\"Fagbemi \u00a0A UK Court of Appeal has validated Nigeria\u2019s claim for the post-judgment costs to be paid in Pounds. 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