मैगज़्टर गोल्ड के साथ असीमित हो जाओ
9,500 से अधिक पत्रिकाओं, समाचार पत्रों और प्रीमियम कहानियों तक असीमित पहुंच प्राप्त करें सिर्फ
कोशिश गोल्ड - मुक्त
P&ID Scam Crumbles: How Tinubu's Tough Stance Saved Nigeria $11bn
The Business NG
|The BusinessNG
Nigeria's legal victory in the P&ID arbitration scandal is more than a courtroom success—it’s a defining moment in the country’s long battle against systemic corruption and exploitation by rogue corporate interests.
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At stake was a staggering $11 billion—roughly a quarter of Nigeria’s 2024 budget—threatening to derail fiscal stability and plunge the nation deeper into debt.
For over a decade, Process & Industrial Developments Limited (P&ID), a shadowy British Virgin Islands-registered firm, pursued a fraudulent arbitration award based on a failed 2010 gas processing agreement. But in a landmark ruling in October 2023, the UK High Court sided with Nigeria, affirming what many had suspected: the deal was rooted in deceit, bribery, and zero intent to execute.
Lateef Fagbemi, SAN, backed by Tinubu, held firm—a critical stance that reshaped the trajectory of the case.
यह कहानी The Business NG के The BusinessNG संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 9,500 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
क्या आप पहले से ही ग्राहक हैं? साइन इन करें
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