A delegation of Federal Government officials have left Abuja on Saturday for the United Kingdom in continuation of efforts to quash a $6.2 billion arbitration award against Nigeria.
The award in favour of Process and Industrial Development (P&ID) Limited has risen to about $10b with a daily interest accrual of over $1 million.
A British judge in August endorsed the award, granting the company the go-ahead to seize Nigeria’s assets worth $9 billion in the UK.
He, however, warned that the action must be carried out only after court vacation this month.
Tribune Online investigation disclosed that “a long list” of officials from relevant ministries and agencies like Federal Ministry of Justice, Finance, Petroleum Resources, security agencies and private sector legal practitioners were on the delegation.
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