President Bola Tinubu on Monday lauded a UK Court judgment rendered by Judge Robin Knowles of the Business and Property Court in London, awarding victory to the Nigerian Government over the firm, Process & Industrial Development Limited.
Describing the judgement as a “victory for our long-exploited continent,” Tinubu said the landmark judgment proves conclusively that nation-states will no longer be held hostage by economic conspiracies between private firms and solitarily corrupt officials who conspire to extort and indebt the very nations they swear to defend and protect.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, disclosed this in a statement he signed on Monday titled ‘President Tinubu applauds Nigeria’s landmark victory in P&ID Case’
Justice Robin Knowles of the Commercial Courts of England and Wales has ruled in favour of Nigeria in the enforcement of a eleven billion dollars Process & Industrial Developments (P&ID) Limited arbitration award.
With the judgement handed down physically in open court, and electronically by email to the parties on Monday, Nigeria succeeded in stopping the enforcement of the award which was initially in favour of Process & Industrial Development Limited.
According to the judge, the award against Nigeria by the company was obtained by fraud.