Mohammed claimed that whenever it was observed that the nation’s foreign reserves were increasing, some people who he described as “vultures” would conspire and decide how to deplete the reserves.
He said the “international scammers” could not have succeeded in their bid if they did not get enjoy the cooperation of some Nigerians.
“That is why the Federal Government is beaming its searchlight on this particular contract to unravel those behind the move to inflict economic injury on Nigeria and its people.” The minister on Tuesday at a press conference in Abuja said President Buhari had directed the Economic and Financial Crimes Commission, the National Intelligence Agency and the Inspector-General of Police, Mohammed Adamu, to conduct a thorough investigation into the contract.
“We can appeal, but our prospects are limited in this case. It is too late now. Rather, we should assemble a team of crack Nigerian arbitration lawyers to join the UK lawyers and launch an appeal. We can also settle. A litigation mediation strategy should be employed right now,” he said. “I’ve been in arbitration for 30 years and there is an unwritten rule by foreign arbitration courts, which is why countries like China, India and Dubai will make sure the arbitration seat is in their countries. You can’t be entering a contract and be contracting the dispute resolution to foreigners who will not favour you.”
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