Mariam Adebukola 
A former presidential aide to ex-President Muhammadu Buhari, Bashir Ahmad has eulogized his former principal for his involvement in the Nigerian Process & Industrial Developments (P&ID) Limited case.
New Telegraph had earlier reported that the Business and Property Court in London on Monday halted the enforcement of the $11bn arbitration award in favour of P&ID against Nigeria.
Justice Robin Knowles of the Commercial Courts of England and Wales in a ruling delivered by email, upheld Nigeria’s prayer on the ground that the ill-fated gas processing contract was obtained by fraud.
Speaking on the development, Ahmad said the basis for Nigeria’s win in the case was Buhari’s decision to pursue legal action rather than pay the $850 million out-of-tribunal agreement figure agreed by the Goodluck Jonathan administration.
He also said the P&ID issue started when former President Jonathan’s government reached an agreement with the UK firm.
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Ahmad wrote: “The P&ID issue started when former President Goodluck Jonathan’s government reached an out-of-tribunal agreement for the payment of $850 million and passed on disbursement to the administration of President Buhari.
“But Muhammadu Buhari balked at the idea of paying the negotiated sum, set aside the settlement agreement, and challenged the enforcement of the award before the English Commercial Court.
Meanwhile, the London court added $2.4 billion in interest, making it $9bn.
“The judge granted Nigeria’s request for a stay on any asset seizures while its legal challenge is pending, but ordered it to pay $200 million to the court within 60 days to ensure the stay. It also must bear some court costs to P&ID within 14 days.
“The original decision on Aug. 16 converted an arbitration award held by P&ID to a legal judgment, which would allow the British Virgin Islands-based firm to try to seize international assets.
“Nigeria then began investigating the company through the EFCC. It found evidence of two bank transfers totaling $20,000 made by Dublin-based Industrial Consultants (International) Ltd. — part of the P&ID group of companies — to Grace Taiga, a Nigerian government lawyer who oversaw the award of the gas plant contract.
“Today, all Nigerians celebrate the victory at the Business and Property Court in London. Thank you, Muhammadu Buhari.”
The P&ID issue started when former President Goodluck Jonathan’s government reached an out-of-tribunal agreement for the payment of $850 million and passed on disbursement to the administration of President Buhari. But Muhammadu Buhari balked at the idea of paying the negotiated…
— Bashir Ahmad (@BashirAhmaad) October 23, 2023
