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Final victory for Nigeria in London court over P&ID’s $11billion judgement

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Nigeria emerged victorious Thursday in a London court as the Process and Industrial Development (P&ID) lost its final appeal in an $11billion arbitration case.

The P&ID sought to overturn an October judgement by a London High Court that halted the enforcement for damages over a failed gas processing project.

The High Court had earlier ruled in October that the British Virgin Islands based company, paid bribes to a Nigerian oil ministry official in connection with the gas contract signed in 2010, and failed to disclose this when it took Nigeria to arbitration over the collapse of the deal.

In his ruling, Judge Robin Knowles rejected P&ID’s argument that the case should be returned for arbitration and affirmed that the damages award should be thrown out completely.

Judge Knowles had on October 23 ruled in favour of Nigeria in the enforcement of a $11bn Process & Industrial Developments (P&ID) Limited arbitration award.

According to the judge, the award against Nigeria by the company was obtained by fraud.

The judge had found out that P&ID paid bribe to Nigerian officials who were part of drafting of the gas supply and processing agreement in 2010.

Also discovered by the Judge was that P&ID was illegally in possession of Nigeria’s privileged legal documents during the arbitration hearings.

Nigeria had urged the court to set the award aside, saying that some individuals in the case were being tried for money laundering and graft.

But after listening to the arguments by lawyers to P&ID which included that the documents found in their possession played no role in its initial victory at the arbitration, the Judge on Thursday refused to grant the permission to appeal.

P&ID cannot apply for permission from the Court of Appeal.

Background

In January 2010, P&ID, a Virgin Islands-registered company founded by two Irish business partners, signed a Gas Supply and Processing Agreement (GSPA) with Nigeria to develop a processing plant in Calabar, the Cross River State capital but the deal failed in August 2012 and the company sought a $5.96bn compensation from Nigeria with arbitration proceedings against the country at the London Court of International Arbitration.

In January 2017, the arbitration said Nigeria breached the contract and ordered the country to pay the company $6.6bn with interest starting from May 2013. Before the verdict, the interest fixed at seven percent ($1m daily) had accumulated to over $11bn.

Subsequently, Nigeria filed an appeal against the enforcement of the award and the court granted the relief sought by the country in September 2020. The Nigerian side argued that there was enough evidence that the contract and the arbitration award were procured by fraud.

The Nigerian side thereby urged the court to set the award aside, saying that some individuals in the case were being tried for money laundering and graft.

In his October ruling, the judge not only agreed that the arbitration awards were obtained by fraud but also that the manner that they were procured were contrary to public policy.

 

 

 

 

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Generator fumes suspected for death of UNN students

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Strong indications has emerged that the use of a generator in a poorly ventilated environment may have caused the death of some students of the University of Nigeria, Nssuka.

The suspicion emerged after a survivor of the incident disclosed that a generator was operating outside the corridor of the apartment where they gathered, while the doors and windows remained shut.

According to the 24-year-old survivor, an Art Education student, about 10 people attended the party organised by his friend, David, to celebrate the completion of his final examinations.

The gathering reportedly started around 11:30 a.m. at the host’s residence in the Hilltop area of Nsukka, with participants sharing alcoholic drinks and playing Truth or Dare.
Recounting his experience, the survivor said he suddenly lost consciousness after helping one of the participants who had vomited and returning to clean the floor.

He disclosed that his legs had become stiff and he could no longer walk before eventually passing out. The student said he regained consciousness at about 9 p.m., only to discover that his friends were lying motionless on the floor.

“When I regained consciousness at about 9 p.m., I heard someone saying that the host was shaking. I woke up and managed to look into the parlour, where I saw the host and other participants lying on the floor,” he recounted.

He said he subsequently contacted friends for assistance, before one of them eventually helped convey the affected students to Bishop Shanahan Hospital and other medical facilities in Nsukka.

The survivor further explained that the apartment was poorly ventilated, with the doors and windows shut, while a generator was running outside in the corridor. A fan was also operating inside the room.

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Speed Darlington begs Burna Boy to drop case

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Nigerian singer, Darlington Okoye popularly known as Speed Darlington, has apologised to Grammy-winning musician, Damini Ogulu, popularly known as Burna Boy, asking him to withdraw the charges against him and promising to stop making comments about his sexuality.

Speed Darlington made the appeal in a video posted on his Instagram page on Thursday, in which he expressed regret over the pain and embarrassment he might have caused the singer.

“This video is for Burna Boy. Burna, this is an apology video. I apologise for any pain that I have caused you. Any shame that I have caused you,” he said.

The singer admitted that he was wrong to assume that everyone had the same temperament, adding that he wanted an end to their disagreement.

“I made the mistake of thinking that everybody vibrates at the same frequency. That’s wrong of me. I apologise, Burna Boy,” he added.

He further pledged to refrain from making both direct and indirect comments about Burna Boy’s sexuality, making the withdrawal of the charges a condition for his promise.

“I give you my word that if you withdraw all charges and let everything die, I give you my word that I will never make any direct comment regarding your sexuality. “Even indirect comment. I will no longer try sustain. I give you my word. Let peace reign,” he said.

Speed Darlington also promised not to mention the singer’s name again if the legal dispute was resolved.

“I promise I will never use my mouth to mention your name,” he added.

 

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Why I left Peter Obi- Yinusa Tanko

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Yinusa Tanko, former national coordinator of the Obidient Movement, says he experienced a betrayal of trust and loyalty in Peter Obi’s camp, which led to his exit from the movement.

Tanko spoke on Thursday shortly after his unveiling as the coordinator of the Social Democratic Party (SDP) presidential campaign council.

Obi, presidential candidate of the Nigeria Democratic Party (NDP), appointed Tanko as national coordinator of the Obidient Movement in September 2024, following a consensus to zone the position to the north.

He was later redeployed as Obi’s political adviser (north), a position he held until October 30, when he resigned.

However, Tanko said he never wanted to leave Obi’s camp, insisting that he was pushed out rather than choosing to exit the movement.

Tanko said although he appreciated the opportunity to serve Obi, he could not remain in a political group where his contributions were no longer valued.

“Well, you know, as you move along in politics, there may be a time when your group does not want you, does not need you or does not appreciate what you do,” he said.

“You don’t stay where you are being tolerated; you go where you are appreciated.

“As far as I’m concerned, I appreciate all the work I have done, and I appreciate him for giving me the opportunity. But the only thing I have suffered in that particular movement is betrayal of trust and betrayal of loyalty.”

Tanko said he served the former Anambra governor with diligence, honesty and integrity, adding that he still held him in high regard despite the circumstances surrounding his departure.

“Everybody knows that I have served with diligence, determination, honesty and integrity. That was how I served Peter Obi, and I continue to respect him,” he said.

“But now, since they don’t want me, people who appreciate me have picked me from the dustbin and made me a bride.”

Asked whether Obi would be pleased to see him in another political party, Tanko said he could not determine what was on the former governor’s mind.

“You cannot say what is on his mind; only he can speak for himself,” he said.

He added that his new political associates had recognised his contributions to nation-building and offered him another opportunity to serve.

 

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