By Alade Adisa
The Federal Government of Nigeria has successfully recovered $200 million and an additional $10 million award that were previously deposited with a United Kingdom court in relation to the long-standing legal dispute with Process and Industrial Development (P&ID) Ltd.
The funds, held as part of Nigeria’s legal defense in the case concerning a failed gas processing contract, were officially confirmed recovered by the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, during a reception in Abuja on Thursday night in honor of Nigeria’s legal team.
Speaking during the event, Fagbemi expressed appreciation for the dedication and expertise of the team that represented Nigeria in the high-stakes case. He particularly lauded the efforts of Shaistah Akhtar, head of the delegation, and Kofo Salam-Alada, former Director of Legal Services at the Ministry of Justice.
“The whole country has celebrated our success in the P&ID case and applauded my resilience and determination not to negotiate or settle with the fraudsters. But many do not know that my strength came from the dedication and uprightness of the FGN-P&ID coordinating team, led by Kofo Salam-Alada, who gave me the necessary support,” the minister stated.
Fagbemi also paid tribute to Salam-Alada’s contribution to public service, adding:
“It is personally disheartening for me to bid Kofo farewell from public service, but I take solace in the fact that a golden fish has no hiding place. It is therefore certain that the country will continue to call upon him for the benefit of all Nigerians.”
In her remarks, Akhtar explained that $10 million had already been paid to Nigeria from the $20 million awarded in its favor following the legal victory. The outstanding $10 million, she added, is currently the subject of a separate legal challenge by P&ID.
The P&ID case, which once posed a potential $11 billion liability for Nigeria, has been widely regarded as a landmark victory in the nation’s efforts to fight corruption and uphold contract integrity in international arbitration.
