Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the newsify domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/newsfyvk/public_html/wp-includes/functions.php on line 6121
$9.6bn Fine: UK Court Grants Nigeria leave to appeal judgment – NewsTrack Nigeria

Crime & Investigation Foreign News National News News

$9.6bn Fine: UK Court Grants Nigeria leave to appeal judgment

By NewsTrack Nigeria
September 26, 2019

A United Kingdom court has granted the Federal Government’s request to stay execution of the $9.6bn judgment it delivered in favour of Process and Industrial Developments in August this year.

The order for stay of execution was conditional.

In the ruling on Thursday, the court said that Nigeria must pay a sum of $200m into the court’s account within 60 days for the stay of execution to be effective.

P&ID secured the damages against Nigeria following a failed Gas Supply Project Agreement (GSPA) contract between it and the Federal Ministry of Petroleum Resources.

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami in a brief from London said, “Application for leave to appeal against the award and enforcement of the award is granted”.

– Channels Television