The High Court of England has on Thursday 3rd September granted Nigeria’s application for extension of time to challenge a $10 billion judgement awarded against it in a case against Process and Industrial Developments (P&ID) Ltd.

The court held that Nigeria has established a prima face case of fraud and would therefore be prejudiced if her application for extension of time to challenge the award is not granted. It added that fairness in the broadest sense favours an extension in the case.

TNL recalls that on January 31, 2017, a tribunal had ruled that Nigeria should pay P&ID $6.6 billion as damages, as well as pre- and post-judgment interest at 7 percent.

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