We’re ready to negotiate $9.6bn fine with P&ID –FG Nigerians Nigeria
The Federal Government has said it is ready to negotiate with the Process and Industrial Developments Ltd over a judgment by a United Kingdom court granting the firm seizure of $9.6bn in Nigerian assets.The Minister of Information and Culture, Lai Mohammed, who spoke on Good Morning Nigeria, a live breakfast programme of the, on Thursday, said government was willing to meet with the P&ID to come up with a “reasonable” agreement.
“The government is doing everything possible to get self-execution and to set aside this award. But at the end of the day, we need to sit down with the P&ID and arrive at something that we think is reasonable for all the parties.” “That is why, until this investigation is completed and concluded, we will not be able to know exactly what happened. But on the surface, I think it was a sham ab initio and the actors knew where they were going. The P&ID has engaged some Nigerians to do their dirty job for them.”
He said, “It is not true that we did not defend it or we were not represented. The contract was entered into in 2010 and from the records made available, there were three arbitrators.
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