Nigeria’s Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN), has ruled out a negotiation with the British Virgin Island firm, Process and Industrial Development (P&ID ) over the $10 billion judgment it obtained against Nigeria.
This came as a reversal of his position expressed in a live interview on Arise TV on Wednesday when he gave indication that the government would keep the window of negotiation with P&ID open.
A statement by Malami’s spokesman, Dr Umar Gwandu, on Thursday, quoted the minister as saying that that the government would not negotiate with P&ID as the process leading to the arbitral award it obtained against Nigeria was rooted in fraud.
Malami said, “There will be no negotiation or talk of settlement with P&ID or any related party by or on behalf of the Federal Government of Nigeria.
“The recent judgment of the English Commercial Court confirmed our view that P&ID and its cohorts are fraudsters who have exploited our country.”
