The Federal Government has recovered a total of $210 million following its landmark legal victory against Process and Industrial Development (P&ID) Limited over a failed gas contract, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, announced on Thursday.
Speaking in Abuja while receiving members of the legal team that represented Nigeria in the high-profile UK arbitration case, Fagbemi disclosed that the recovered sum includes $200 million earlier deposited as security and an additional $10 million awarded in Nigeria’s favour. The remaining $10 million from the $20 million post-judgment award is still being contested by P&ID.