Landmark victory for Nigeria in the Commercial Court of England and Wales to enforce Process and Industrial Development (P&ID) Limited’s $11.5 billion arbitration award against the country over its failed 2010 petrol processing plant development agreement. Domestically, the Federal Government of Nigeria, Nigerians, policymakers, media experts and other key stakeholders have hailed this important victory, ending the long-running legal battle between the Federal Government and P&ID. It put an end to the struggle.
While celebrating the 141-page judgment of Judge Robin Knowles of the Commercial Court of England and Wales, which restrained the enforcement of an $11.5 billion arbitration award against Nigeria by P&ID Limited, we remember and celebrate the former Acting Chair of the Economic Commission That is essential. and Mr. Ibrahim Magu of the Financial Crimes Commission (EFCC), a patriotic Nigerian who was defamed, fought over, abused, humiliated and forced out of office. It was his tears, his blood and his sacrifice that contributed to the victory that all Nigerians celebrate today.
We also commend the members of the P&ID Unit, founded by Ibrahim Magu, who worked tirelessly for years, almost overnight, to uncover fraud, money laundering and corruption schemes aimed at paralyzing Nigeria. It is also important to state that there is a need. .
While this landmark judgment has attracted the attention of local and international stakeholders, with many praising the bold action and resilience of the Federal Government of Nigeria, this monumental It is essential to commend Mr. Magoo for the pivotal role he played in unraveling this fraud case. A questionable arrangement led to the signing of the Gas Supply Processing Agreement (GSPA) between the Federal Government and Process & Industrial Development Limited (P&ID) on January 11, 2010, through the Ministry of Petroleum Resources (MPR).
As the world takes note of this landmark judgment and applauds the boldness of the federal government, the EFCC, under Mr. Magu’s leadership, highlights the essential role it played in exposing the corrupt practices that led to the ill-fated GSPA. It is essential to apply the Signed on January 11, 2010 between the Ministry of Petroleum Resources (MPR) and his P&ID. To set the record straight, the contribution of the EFCC, especially in the early stages of this complex case, needs to be recognized and appreciated.
Records show that Magu received a petition in June 2018 from the Office of the Honorable Attorney General of the Federation (OAGF) and Minister of Justice conveying instructions from former President Muhammadu Buhari. These directives mandated a careful investigation into the circumstances surrounding the signing of his GSPA, which he signed between MPR and P&ID on January 11, 2010. This pivotal moment set the stage for a thorough investigation into the problematic practices that led to the deal, which undermined Nigeria’s interests.
Incidentally, the EFCC’s careful investigation exposed a vast web of corruption that underpinned a faulty agreement between the Federal Government and P&ID. This revelation provided the impetus and critical evidence for the federal government to vigorously pursue justice and tear up the agreement.
In Nigeria, it has become clear that anyone who is sincere and serious about fighting corruption will face resistance. Many believe that one of the reasons for Mr. Magu’s removal from office as president was his unwavering commitment to cleaning the Nigerian system through sustainable insurgency. -Corruption campaign, one of its most important aspects was the P&ID issue.
In a 43-page judgment handed down on 7 April 2020, Sir Ross Cranston of the Royal Court of Justice in London, in Case No CL-2019- Between the Federal Republic of Nigeria (Plaintiff) and the present proceedings. What was said about 000752 is instructive. Industrial Developments Limited (defendant) admitted that the EFCC conducted extensive investigations under the supervision of Magu to establish serious fraud by P&ID against Nigeria.
After considering the parties’ submissions and the evidence before him, Mr Justice Cranston granted Nigeria’s application to stay enforcement of the award, thereby laying the foundations in favor of Mr Justice Knowles’ latest judgment.
In his landmark judgment, Justice Cranston also ruled that “the Attorney General’s letter to the EFCC of June 28, 2018, containing the President’s directive, was not a fraud, but rather a failure of the circumstances surrounding the GSPA and subsequent events. “We are referring to a thorough investigation.”
“In my view, Mr. Mill (P&ID’s general counsel) underestimated the work that took place between June 2018 and August 2019. On September 19, 2019, P&ID and P&ID Nigeria were successfully prosecuted.
“We do not believe that the investigation was carried out with the same sense of urgency when compared to what happened after August 2019.” Mr. Malami’s letter also became available after the hearing, and An investigation is underway into Mr Magu’s conduct on behalf of the Acting Commissioner of the EFCC.
“With all due respect, it is difficult to understand that this letter is an attack on Mr. Magu alone rather than the performance of the EFCC under his leadership. The mention of the enormous amount of work done might be treated as a special pleading if it were in his letters.
“However, in my view, this does not help P&ID’s case that there was a lack of reasonable diligence. Indeed, a deliberate decision in the Takar sense not to investigate wrongdoing was made. There is nothing to suggest that, and nothing to suggest that there was a conscious decision to proceed slowly.
“Given the resources allocated to the EFCC, the other investigations it was conducting and the situation in Nigeria, what happened could have been carried out by the EFCC at its normal pace.
“By comparison, the position since August 2019 is an anomaly and may have been prompted by the serious position Nigeria faced in light of Butcher J’s decision on the P&ID enforcement application.” not.
“However, we cannot accept Mr. Mill’s contention that there was no proper or diligent investigation. This means that there was no such information.
“In my view, Nigeria has made a strong prima facie case of fraud in the serious tort matter. On closer inspection, this is what Butcher J correctly stated in his judgment in ordering this trial. It is not the type of case flagged and the unsuccessful party in the arbitration does not allege fraud in connection with the procurement or conduct of the underlying contract.Subject to Arbitration Where Not Properly Investigated at the Time of Arbitration: Nigeria Commonwealth Republic v Process & Industrial Developments Limited (2020) EWHC 129 (Comm), (31). Factor (vii): (2013) 1 Lloyds MP 86, (33).
“For the reasons I have stated, P&ID has contributed to the delay and, even if the application is allowed to proceed, it will suffer irreparable prejudice by reason of the delay, in addition to mere loss of time. Although not the primary factor, fairness in the broadest sense favors an extension in this case.”
Judge Cranston granted Nigeria’s application to stay proceedings against the unjust and fraudulent arbitral award and said: “For the reasons given, I grant Nigeria’s application for an extension of time and a reduction in sanctions.”
As Nigeria joins the rest of the world in combating corruption and its negative effects on humanity, the fight against corruption is a collective responsibility and we are committed to reducing the corrosive effects of the world’s big elephant. It is important to remind stakeholders that they must work together. minimal room.
Popoola, a public relations analyst, wrote from Lagos: