P&ID procures a gas supply and processing agreement (GSPA) to develop a sophisticated processing plant for the Federal Republic of Nigeria.
Attorney General Malami Witness Statement No.4 item 38 p.19 (2019)January 11, 2010
Two years later, work on the gas processing plant has yet to begin. The agreement collapses. P&ID launches private arbitration proceedings against the Federation. In a highly unusual move, the Ministry of Petroleum Resources at the time maintained exclusive control over the proceedings.
Three years after the collapse of the agreement, a new President, Muhammadu Buhari, is voted into office on an internationally recognised anti-corruption platform.Read More May 29, 2015
The private arbitration tribunal orders Nigeria to pay P&ID just under US$6.6 billion with interest accruing from 20 March 2013 at a rate of seven per cent, which equates to more than US$1 million a day. It now stands at nearly US$10 billion.Read More January 31, 2017
Nigeria’s Attorney General Abubakar Malami starts a formal investigation into P&ID and the GSPA, at President Buhari’s direction.
Attorney General Malami Witness Statement No.4 item 59 p.26June 28, 2018
Following the investigation, P&ID and P&ID Nigeria (a linked Nigerian entity) are convicted on an eleven-count charge, including money laundering and fraudulently claiming to have acquired land.Read More September 19, 2019
A former legal adviser to the Ministry of Petroleum Resources is charged for accepting bribes and failing to follow protocol when authorising the GSPA.Read More September 20, 2019
The Federal Republic of Nigeria is granted permission to appeal the arbitration decision in the London Court of Appeal.Read More September 26, 2019
Two Britons associated with P&ID, (one of whom is a signatory of P&ID accounts), are charged with 16 counts of money laundering, in connection to the GSPA. This is later increased to 32 counts.Read More October 22, 2019
Nigeria argues before the London High Court that the GSPA and arbitration decision should be objectively scrutinised, and any award delayed. The High Court agrees.Read More November 25-28, 2019
Nigeria’s legal team file substantive evidence in the London High Court that the GSPA was procured through fraud and corruption. They argue that the agreement and (then) US$9.7 billion arbitration award must be overturned. The Court sets down a timetable for Nigeria's case to be considered. Despite many opportunities to do so, P&ID says nothing to rebut the overwhelming evidence of fraud and corruptionRead More December 5, 2019
Nigeria’s former Justice Minister, at the time the GSPA was made, is arrested.Read More December 19, 2019
The London High Court sets out a timeline to formally hear Nigeria’s challenge.Read More January 24, 2020
The English Commercial Court delivers an unprecedented judgment allowing the FRN permission to proceed with its challenge to the $10 billion arbitral award made against it over three years ago.Read More September 4, 2020
The British Virgin Islands Court of Appeal hears the case to overturn a judgment handed down by the BVI High Court on 27 July 2021, refusing the FRN's application for disclosure.Read More January 13, 2022