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UK court orders P&ID to make interim payment of £1.5m to Nigeria

The Federal Republic of Nigeria (FRN) Thursday appeared in the English High Court for a scheduled hearing, Presidential aide, Garba Shehu shared on Twitter.

The hearing followed the major victory secured by Nigeria last Friday, allowing it to bring a fraud challenge against a $10 billion arbitration award obtained by P&ID, outside normal time limits.

A spokesperson of Attorney General of the Federation said Nigeria will now proceed to a full fraud trial.

Thursday’s hearing was held to decide procedural and costs issues relating to the Nigeria’s applications to challenge the arbitration award and to determine the short term directions to trial.

The sitting Judge of the High Court, Cranston J ordered P&ID to make an interim payment of more than £1.5 million within 21 days to cover legal costs Nigeria incurred as part of their successful application for the extension of time to challenge the arbitration award and procedural hearing earlier in the year.

A case management conference to determine the full trial window is scheduled to take place sometimes after November 2020.

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