Former Nigerian lawmaker, Shehu Sani, has applauded the court ruling which awarded a landmark victory to the Nigerian Government over Process & Industrial Development (P&ID) Limited.
Naija News earlier reported that Judge Robin Knowles of the Business and Property Court in London ruled in favour of Nigeria and quashed the enforcement of the $11 billion arbitration award in favour of P&ID.
Reacting to the development in a post via his X handle on Monday, the former lawmaker said it was a big relief for Nigeria to win the case that would have led to the loss of $11 billion to a fraudulent deal.
Sani stated that this case should be a great lesson for the federal government on the need to exercise caution in the signing of deals with dubious foreign investors.
He wrote: “It’s a big relief for Nigeria to Win the P&ID case in London that would have led to the loss of $ 11 billion to a fraudulent deal. This should be a great lesson for the Government on the need to exercise…