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Judge Orders Nigeria To Deposit $200 Million Over Failed Contract With P&ID

Unic Press UK: A UK judge has granted the Nigerian government application for a stay in respect of a court ruling that the country should pay in excess of $9 billion for a breach of contract, the Reuters news agency reports.

In a ruling Thursday, the court said that the Nigerian government should, within 60 days, deposit the sum of $200 million to the court pending the determination of the case. The court also ruled that Nigeria should pay some money to P&ID to cover legal costs.

Process and Industrial Developments Ltd (P&ID), a UK-registered company with links to Dublin-based Industrial Consultants International had, in August 2019, secured a court judgement against Nigeria.

 

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