Agents Of P&ID Made Efforts To Settle Out Of Court, But Tinubu Refused- AGF


The Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, has said some agents of the controversial Process & Industrial Developments (P&ID) had attempted to approach the Federal Government for a settlements of the case but was subsequently rejected by President Bola Tinubu.

He said Tinubu had vowed not to go hand in glove with fraudulent counterparties or condone corruption and to hold fast to its position not to settle.

The minister said this on Monday in Abuja while speaking to State House correspondents at the end of the council meeting chaired by President Tinubu.

He said, “It is imperative to point out that several agents of P&ID made overtures to the government for settlement of this case.

“However, the resolve of the administration of President Bola Ahmed Tinubu not to go hands in gloves with fraudulent counterparties or condone corruption informed the position of the FRN to hold fast to its position not to settle.

Fagbemi said this in reaction to the recent ruling of a UK court which ruled in favour of Nigeria in the decade long legal battle to stop the enforcement of a massive $11 billion arbitration award in favour of P&ID.

Judge Robin Knowles of the Business and Property Court in London, had ruled that the P&ID gas company contract with Nigeria was a fraud and the company had intention of performing it.

Tinubu, reacting to the ruling in a statement by his Special Adviser on Media and Publicity Ajuri Ngelale on Monday, commended the UK Court for prioritizing the merits of the case above all other considerations.

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Meanwhile, Fagbemi said, “History has been made today, as this judgment is no doubt significant in the annals of Nigeria and indeed Africa.

“This judgement has vindicated the government and should serve as a pointer to others who might be nursing or nurturing any plan to swindle Nigeria.”

He stated that the “success recorded was as a result of close inter-agency collaboration of the FGN Team comprising the Office of the Honourable Attorney General of the Federation (HAGF)/ Federal Ministry of Justice (FMoJ), Economic & Financial Crimes Commission (EFCC), Nigerian Police Force (NPF), Central bank of Nigeria (CBN), Ministry of Petroleum Resources (MPR), the Nigerian National Petroleum Company Limited (NNPCL) Department of State Security (DSS) and the Nigeria Financial Intelligence Unit (NFIU).”

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