Connect with us

National

Minister relishes Nigeria’s victory at UK court over $9.6b debt judgement

Published

on

Spread the love

Minister relishes Nigeria’s victory at UK court over $9.6b debt judgement

The Friday judgment of a UK Commercial Court suspending the execution of a 9.6 billion dollar judgment debt against Nigeria has brought some respite the Minister of Information and Culture, Alhaji Lai Mohammed has said.
Muhammad, described the court decision as a big victory adding that Nigeria can now heave a sigh of relief.
A UK commercial court on Friday granted Nigeria’s appeal for stay of execution of the award of 9.6 billion dollar, (about N3.5 trillion) to an Irish company, Process and Industrial Developments Ltd. (P&ID) over a botched gas contract.
Specifically, the Royal Courts of Justice Strand, London granted the stay of execution order in the arbitrary award, following the review of written submission by the Federal Government which contained new evidence.

The presiding judge, Justice Sir Rose Cranston held that the court decided to “grant Nigeria’s application for an extension of time and relief from sanction” in the matter in dispute.
In a swift reaction to the court’s decision, the minister said the judgment has given Nigeria the chance to challenge the arbitrary award to prove that the entire contract award with P&ID was a scam.
“The ruling is a big victory for Nigeria because it does not only grants Nigeria only stay of execution but also suspends any penalty against Nigeria.
“For more than a year now, Nigeria has been restless in its search for justice because we have always believed that the P&ID gas supply contract was nothing but a sham.
“We pursued the case relentlessly both in the court of public opinion and in the court of law.The minister recalled that one of the challenges the administration faced as soon as it came on board for the second tenure was the slamming of the judgment debt on the country.

“The world and Nigeria were gripped with the fear that our foreign assets, our oil will be attached and investors were panicked, that was when we started our campaign.
“We were quite cleared on our mind that this matter will be won not just in the court of law but also in the court of public opinion,” he said.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National

Nigeria that fared well in the 60s, is now a shadow of its glorious past- Abaribe

Published

on

By

Spread the love

Nigeria that fared well in the 60s, is now a shadow of its glorious past- Abaribe

Senate Minority Leader, Senator Enyinnaya Abaribe, on Monday, said Nigeria that was a shinning star in the 60s is now a shadow of its glorious past, now pushed further into a deep mess with ethnicity as as the supreme order.

Speaking at his official presentation of his autobiography “Made in Aba” in Abuja, the Abia Senator said Nigeria has continually regressed and the citizens were now reclining into their ethnic enclaves.

Abaribe noted that the country has regressed to the level that it would be difficult for any citizen to survive “if you don’t go to your ethnic enclave.”

He said: “I try to say a few things (in the book) that we might have forgotten. Why is it that we had a better life – we had pipe borne water, we had electricity 24 hours – in the 1960s?

“Now it is 50-60 years later, every person has to have borehole in his house. So he becomes his own NEPA generating power for himself; he becomes his own water board. Then I asked, why would life be like this? I tried to caption the reason why we are where we are today.

“I also tried to capture that there was a Nigeria, where it is said, in our former anthem, that though tribe and tongue may differ, in brotherhood we stand.”

He said in his early career life, he secured jobs and got promotions in places outside his southeast region only based on merit without anyone asking where he came from.

“Now, what we have done is that we have a big Nigeria that has continually regressed and now all of us are into our ethnic enclaves.

“And if you don’t go to your ethnic enclave, you won’t be able to survive in Nigeria today.

“In the book, I also look at the possibility of Nigeria that we may have assuming if each and everyone of us is committed to the country.”

Continue Reading

National

Bauchi/Benue Govs’ feud: Gov Diri to the rescue

Published

on

By

Spread the love

Bauchi/Benue Govs’ feud: Gov Diri to the rescue

By Princess Rose Yusuf

The Bayelsa State Governor, Duoye Diri has waded in to the war of words between the Governors of Bauchi and Benue State as the recent altercations between the Governors have become very disturbing.
He called on the leadership of the Peoples Democratic Party (PDP) to wade in and ensure that the matter is resolved.
He was speaking during a courtesy visit to Governor Bala Muhammed in Bauchi State Government’s House Thursday.
Diri said,
“The raging current issue between two brother Governors of the same party is not good, I seize this opportunity to advise and call on both of you who are members of our great party to please cease further actions and reactions on the burning national security issues.
“May I also use the opportunity to call on our party to immediately intervene and resolve whatever issues that are still yet unresolved amicably as a party and as brothers.”

In his response, Governor Muhammed promised to cooperate and reduce the tension and he gave the assurance that no words would be heard on the matter again. He also seized the opportunity to  apologise to all Governors, the national assembly, his constituents and all Nigerians.
He said, “There is no disharmony between me and my brother and my friend in Benue, we are just having the courage to discourse a burning National issue and I am happy that Nigerians have the opportunity, to discourse the issue and we are going to do everything on my own part to make sure we disedcalate the issue that it will not bring injury to our party and to national unity. I was not doing anything in anyway to insult, or to cause any injury to my brother whom I have worked together with at the cabinet and now as Governors.
“I want to use this opportunity to apologise to my various contituencies; especially the national assembly even though I said the truth but it has injured their sensibilities or it has touched on their privileged as we used to say in parliamentary parlance.
“I was doing it out of nationalism and patriotism. At the same time the Governors if what I said was also injurious to them, I apologise to them and say sorry to them and indeed all Nigerians.
“But certainly as I said, my brother, I have no apology for saying the truth, but certainly sometimes you say the truth and it would be injurious.

Continue Reading

National

Senate confirms Bawa as EFCC Chairman

Published

on

By

Spread the love

Senate confirms Bawa as EFCC Chairman

The Senate on Wednesday confirmed Abdulrasheed Bawa as the substantive Chairman of the Economic and Financial Crimes Commission (EFCC).

He was confirmed after being grilled during Senate plenary.

For more than six years the commission was headed by persons in acting capacity.

For the first time a staff of the commission who is not a police officer is being appointed as chairman.
He rose through the ranks from the academy before being nominated to head the commission.

The Anti graft agency’s chairmanship designate reacted to a plethora of questions posed by Senators on his preparedness for the job, given his age and working in a complex society like Nigeria, at planary

Bawa, addressed most of the concerns of lawmakers, while assuring that he would bring his experience to bear having joined the agency in 2004.

Continue Reading

Trending