Avoiding Judgment Debt Doomsday via thisdaylive
SimonKolawolelive By Simon-Kolawole, Email: simon.kolawole@thisdaylive.com, sms: 0805 500 1961
Nigeria is contending that the GSPA was, and is, a scam. The Economic and Financial Crimes Commission has been quizzing those suspected to have participated in the entire arrangement. But while we are at it, a possible $2.3 billion fine is also hanging over us in France because of another alleged breach of contract in the Mambilla power project in Taraba state. This time around, it is a Nigerian company, Sunrise Power and Transmission Company Limited , making the claim.
The zigzagging was always going to end up in chaos as Shell headed to ICSID for arbitration, claiming the Nigerian government had expropriated its assets having given it the go-ahead to explore OPL 245 in 2001. It claimed to have spent $535 million already on exploration. According to Adoke, Shell was cocksure it would win the case in arbitration.
In the P&ID case, I can see that the federal government is trying to prove that the entire deal was a scam ab initio. EFCC may put some people on trial following a series of invitations of the key characters. If you ask me, I would argue that this is what we should have done when the case was in arbitration, or before the final award was given in January 2017. We were simply too slow and nonchalant over the arbitration.
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