Posted by News Express | 17 August 2019 | 480 times
The Federal Government has said that it would appeal Friday’s ruling of a British court ordering that about nine billion dollars ($9bn) worth of its assets be seized by the Process and Industrial Development Limited following a breach in contract.
According to the Solicitor-General of the Federation and Permanent Secretary, Federal Ministry of Justice, Dayo Apata, the government has instructed its lawyers to appeal against the ruling of the court which sat in London.
The ruling, on Friday, is the latest development in the case which started in 2010, regarding an agreement to build a gas processing plant in Calabar, Cross River State.
The project collapsed between Nigeria and the Irish firm after the former is said to have failed to meet its end of the bargain.
In his statement on Friday, Mr. Apata noted that as regards the recent Judgment of the English Court, the Federal Government’s Counsel have been instructed to pursue an appeal, as well as seek for a Stay of Execution of the said judgment.
He added that the Federal Government of Nigeria is making vigorous efforts to defend its interest in this matter and would not relent in exploring every viable option in doing so. (Channels TV)
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