Attorney General and Minister of Justice, Mr Abubakar Malami says with the conviction of P&ID and its officials of fraud by a Nigerian court on Thursday, Nigeria now has a formal basis to attack the initial gas contract.
Malami who responded to Nigerian Tribune’s enquiry on implications of the judgment on the vexed $9.6 billion judgement said “the implication of today’s conviction is that Nigeria has a judicial proof of fraud and corruption as a foundation of the relationship that gave rise to a purported liability in the arbitral award.
“A liability that is rooted in fraud and corruption can not stand judicial enforceability.
Nigeria now has a cogent ground for setting aside the liability.”
Malami noted that Nigeria is now expected to review its strategy in view of unfolding developments as it relates to conviction of some of the suspects that have admitted fraud and corrupt practices in the transaction that gave rise to purported award.
“Nigeria is meeting with is legal consortium early next week in UK in preparation for the case listed for 26th September”, he disclosed.