In order to defend the $11 billion arbitral award against Process and Industrial Development (P&, ID) Ltd., the Federal Government has recovered the sum of $200 million and another $ 10 million bond it deposited as bond in a UK court.
Lateef Fagbemi, the minister of justice and the attorney general of the Federation, made this known on Thursday during a visit by a team of lawyers representing the UK to the Ministry led by Shaistah Akhtar.
Fagbemi applauded Akhtar and Kofo Salam-Alada, a former ministerial director of legal, for their legal victories and successful recovery of funds from the Federal Government.
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Many people do not believe that the FGN-P&, ID coordinating team’s dedication and sincerity, which was led by Kofo Salam-Alada, who provided me with the necessary support, despite the fact that the entire country has applauded our success in the Process &, Industrial Developments Ltd (P&, ID) case and applauded my resilience and determination not to negotiate or settle with the fraudsters.
A golden fish has no hiding place, according to Fagbemi, who also expressed his happiness at Salam-Alada’s retirement from the service.
Prior to P&, ID losing the case, Akthar, who was accompanied by Lydia Allaby, explained that the $10 million was being given to Nigeria from the $20 million that had already been awarded to it. However, she added that the firm is bringing legal challenges to the $ 10 million outstanding.
Source: Channels TV
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