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$9.6bn P&ID Judgement: We Won’t Lose Any Asset ― FG

Despite the recent recognition of the $9.6 billion arbitration award by a UK court, and contrary to some reports, Nigeria is not about to lose any of its assets to P&ID.

Minister of Information and National Orientation, Alhaji Lai Mohammed who spoke on the matter on Tuesday at a press conference in Abuja declared “there is no imminent threat to Nigeria’s assets!”

However, in an attempt to unravel the circumstances surrounding the entire transaction, Mohammed disclosed that federal government has mandated the Economic and Financial Crimes Commission (EFCC) along with National Intelligence Agency (NIA) and Nigeria Police to investigate P$ID and the contract.

“Attorney General of the Federation, with the approval of Mr. President, has requested the Economic and Financial Crimes Commission (EFCC), the National Intelligence Agency (NIA) and the Inspector General of Police (IGP) to conduct a thorough investigation into the company, the circumstances surrounding the agreement and the subsequent event, which includes commencing a full-scale criminal investigation,” he stated.

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