Nigeria has secured a landmark victory in its pursuit to overturn a $10 billion judgement award against the country in its case against Process and Industrial Developments (P&ID). 
The judgement was delivered on Thursday, By Ross Cranston, a judge of the Business and Property Courts of England and Wales, he granted Nigeria’s application for an extension of time and relief from sanctions.
On January 31, 2017, a tribunal had ruled that Nigeria should pay P&ID a sum of $6.6 billion as damages as well as pre-and post-judgment interest at 7 per cent.
The Federal Government had gone to court to establish that the contract awarded to P&ID was done on illegal terms.
The FG of Nigeria has since been in court to have the judgement overturned and has gotten court clearance to request documents from a P &ID stakeholder and review statements of ex-president Goodluck Jonathan, as well as that of former Petroleum Ministers Diezani Alison-Madueke and Rilwanu Lukman.
The Economic and Financial Crimes Commission (EFCC), had on August 18, arraigned James Nolan, a Briton, and six companies over their alleged involvement in the contract. 
Photo Credit: Getty
