Former President Muhammadu Buhari has lauded the recent victory in the $11 billion Process & Industrial Developments (P&ID) arbitration award dispute, characterizing it as a thwarting of an “attempted grand theft of unprecedented magnitude…CONTINUE READING....KINDLY READ THE FULL STORY HERE▶
In a statement titled ‘A Matter of Principle,’ Buhari expressed his relief at the judgment rendered by Justice Robin Knowles of the Commercial Courts of England and Wales, who upheld Nigeria’s claim that the award was secured through fraudulent means.
The former president underscored the gravity of the situation, stating, “This was an audacious effort to pilfer a third of Nigeria’s foreign reserves from the treasury.”
He further emphasized the extensive efforts made to unearth evidence of wrongdoing in the case.
Buhari stated, “We emerged victorious, providing solace for all upright citizens. Justice Robin Knowles declared that Nigeria had fallen prey to a colossal deception. Nevertheless, it was a closely contested ordeal.
However, it is worth noting that ordinary Nigerians were not the architects of the decisions that led to Justice Knowles’ judgment.
If Nigeria had lost, it would have necessitated a monumental scale of sacrifice in essential areas, such as education, healthcare, and infrastructure development, to settle a select group of contractors, legal representatives, and their associates for a project that never saw the light of day.”
Buhari went on to describe how, amid the pressure for Nigeria to honor the arbitration award, he assigned the late Abba Kyari, his then Chief of Staff, and Abubakar Malami, the former Attorney-General of the Federation, the task of exploring ways to ensure Nigeria received a fair hearing.
