$9.6bn judgment: Buhari govt makes allegation on ruling against Nigeria
It alleged that the award was unprecedented, unjustifiable and an attempt to inflict economy injury on Nigeria and its people.
A UK court had in a ruling authorised an Irish engineering and project management company, Process and Industrial Developments Ltd. to seize 9.6 billion dollars in Nigerian assets over the failed contract. “The arbitrators were the parties to be nominated by the company, the other by the Ministry of Petroleum Resources while the two of them will agree on the third arbiter.
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