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Home Business News

Tinubu reacts to Nigeria’s victory in $11 billion P&ID judgement, says its victory for Africa

Chike Olisah by Chike Olisah
October 23, 2023
in Business News, Legal & Regulations
President Tinubu,

President Bola Tinubu

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President Bola Tinubu has lauded a UK Court judgment rendered by Judge Robin Knowles of the Business and Property Court in London, awarding victory to the Nigerian Government over the firm, Process & Industrial Development (P&ID) Limited.

The president described the landmark judgement as a victory for Africa, adding that the country would no longer be held hostage by economic conspiracies between private firms and corrupt officials.

President Tinubu’s reaction is contained in a statement signed by his Special Adviser on media and publicity, Ajuri Ngelale.

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What President Tinubu is saying

According to Ngelalle, the president said,

  • “This landmark judgment proves conclusively that nation states will no longer be held hostage by economic conspiracies between private firms and solitarily corrupt officials who conspire to extort and indebt the very nations they swear to defend and protect.
  • “Today’s victory is not for Nigeria alone. It is a victory for our long exploited continent and for the developing world at large, which has for too long been on the receiving end of unjust economic malpractice and overt exploitation.
  • “Nigeria is appreciative of the tremendous efforts of the defense team and acknowledges the role of the Federal Ministry of Justice and the Office of the Attorney-General in the process of defending Nigeria’s interest in this case.’’

More to follow…


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Tags: Ajuri NgelaleP&IDPresident Bola Tinubu
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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