P & ID Scam: FG Records Another Win As Post-judgement Cost Is To Be Paid In Pound Sterling

The Minister of Justice and Attorney General of the Federation, Prince Lateef Fagbemi has again recorded another win in the P&ID Scam as United Kingdom Court of Appeal validated Nigeria’s claim for the post-judgment costs to be paid in Pound Sterling.

The solicitors of P&ID  had tried to reduce drastically Nigeria’s claims by insisting that Nigeria should only be entitled to recover its costs in Naira. But in its ruling on Friday, the UK court of appeal ruled in favour of Nigeria that the post-judgement cost should be paid in pound sterling instead of in Naira.

Prince Fagbemi applauded the ruling in a statement from his office as the Pound sterling will boost the Nation’s foreign exchange earnings.

The statement reads:
The Hon. Attorney-General of the Federation, Lateef O. Fagbemi, SAN is delighted at a report just received from our UK solicitors on the latest victory recorded by Nigeria in its fight against corruption and extortion by litigation hawks.

Consequent upon our success in defeating the fraudulent USD 11 billion claim by P&ID last year, Nigeria is continuing its efforts to recover its substantial costs from P&ID and its vulture fund backers.

Today (being the 12th day of July 2024), the United Kingdom Court of Appeal validated Nigeria’s claim for the post-judgment costs to be paid in Pound Sterling (GBP), which P&ID tried to reduce drastically by claiming that Nigeria should only be entitled to recover its costs in Naira, which evidently will produce a much lower cost.

This was another misconceived and desperate attempt by fraudsters to deprive the Nigerian people of hard-earned public revenue.

As a government, we are very determined to recover these costs and make P&ID and its US funders pay for their scam so as to serve as a deterrence to others of their ilk.  We commend the dedication and tenacity of our legal team for this accomplishment.