MOVES by the Federal Government to overturn the $9.6 billion judgment debt awarded against it in favour of Process and Industrial Development Limited (P&ID) by a United Kingdom (UK) court have recorded more progress.
![](https://thenigerialawyer.com/wp-content/uploads/2026/05/2026-Summer-IDRI-Masterclass.jpg")
The appeal got positive feedback with a United States (U.S.) court granting Nigeria’s permission to request documents from VR Capital Group Ltd, the part owner of a company that received a $9.6 billion arbitration award the government is trying to overturn.
U.S. District Judge Paul Engelmayer ordered in New York that Nigeria can subpoena information from London-based hedge fund VR Capital, four subsidiaries and three of its directors.
The Federal Government had last month, sought documents from 10 banks, including Citigroup and JPMorgan Chase & Co., in a bid to overturn the judgment related to a business deal that the country contends is shrouded in allegations of corruption.
Nigeria asked a federal court in New York for permission to subpoena information about transactions involving government officials, including a former president.
The politicians were in office when the state signed a contract with P&ID, and later became involved in a costly dispute with the company.
But London-based iNHouse Communications, representing P&ID, said: “Nigeria’s efforts to seek information on a crime that never occurred from a party that was never involved with P&ID until years after the alleged events is prima facie evidence that it has no case at all. The claim that P&ID deliberately concealed documents by destroying them is totally false.”
The Economic and Financial Crimes Commission (EFCC) plans to use the data in its probe of British Virgin Islands-registered P&ID and allegedly corrupt government officials.
A Cayman Islands-registered unit of VR Capital acquired a 25 per cent interest in P&ID about two years ago and will have conducted due diligence on the firm that is “highly relevant” to the ongoing investigation, according to a court filing submitted by Attorney-General of the Federation and Minister of Justice Abubakar Malami on May 12.
Bloomberg report said the successful court application is part of Nigeria’s efforts to show that a 2010 gas-supply contract with P&ID was a sham designed to fail by the company and government officials. P&ID denies any wrongdoing, saying that Nigeria invented the allegations to evade its legal obligations.
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