The Federal Government has paid the sum of £250,000 to Process and Industrial Developments Limited (P&ID) as running cost, for its legal fight with Nigeria over the botched pipeline gas deal. following an order of the Commercial Court in London in September.
Justice Christopher Butcher of the London commercial court had on September 26 given Nigeria 14-day ultimatum to make the deposit, the deadline that expired on Thursday.
The government has also appealed against the order of the same court, which asked that a $200 million security payment be made into its account within 60 days, as a condition for a stay of execution of the $9.6 billion judgement after granting the country leave to appeal the judgement.
Mr. Dayo Akpata, Nigeria’s Solicitor General of the, who confirmed the development while speaking with Channels Television, also stated that payment of the running cost ordered by the court was made pending the hearing of the appeal against the $9.6 billion judgement in favour of P&ID.
He described the payments as a normal process and would be paid back if the appeal was successful.
Nigeria is currently fighting to reverse the judgement of the London court which awarded $9.6 billion in favour of P&ID following the cancellation of the gas supply contract agreement.
With additional report from Channels TV
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