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GOOD NEWS TODAY: Massive Victory For Nigeria as United Kingdom Court Delivers Final Judgement on $11bn Bebt

In a judgment delivered by email, Robin Knowles, justice of the Commercial Courts of England and Wales, upheld Nigeria’s prayer on…

After over five years of legal fireworks, Nigeria has finally succeeded in halting the enforcement of the $11 billion arbitration award in favour of P&ID.

In a judgment delivered by email, Robin Knowles, justice of the Commercial Courts of England and Wales, upheld Nigeria’s prayer on the ground that the ill-fated gas processing contract was obtained by fraud.

News Direct had reported that the much-awaited judgment would be delivered today, October 23, in London, United Kingdom.

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A private arbitration tribunal had on January 31, 2017 ordered Nigeria to pay $6.6 billion to P&ID plus interest beginning from March 20, 2013.

With the interest rate fixed at seven percent amounting to $1 million a day, the potential payment had accumulated to over $11 billion before the verdict..…CONTINUE.FULL.READING>>>

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JOLOWO BUNALAYEFA PIUS is the Chief Executive Officer (CEO) for BUNADY NEWSLITE GLOBAL ENTERPRISE (Bunady.com). He started his Blogging/Journalism career at God's Own Wireless Company 2012. He's a graduate of Adekunle Ajasin University Akungba Akoko Ondo State, with a major in History And International Studies. You can contact him for press events, advertisement promotions on Email: contact.bunady@gmail.com

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