The Federal Government has revealed how Nigeria was saved from $ 11 billion scammers designed by Process and Industrial Developments Limited (P&D), describing the historical victory in a United Kingdom court as a turning point in the fight against corruption and economic sabotage.
The National Coordinator of the Federal Republic of Nigeria (FRN) research team in the case of P&D, Mr. Kofo Abdulalam-Alada narrated the efforts behind the scene that led to the successful result.
Speaking during a courtesy visit to the Attorney General of the Federation (AGF) and the Minister of Justice, said Lateef Fagbemi, San, Abdulsalam-Alada, the unshakable position of the administration of Tinubu was key to the frustrating attempts of the fraudicles to force an agreement outside the court.
“The current government's commitment was needed to rescue the country from the hands of the scammers.
“The AGF and the president remained firm that Nigeria was not scammed. Despite the immense pressure to settle outside the courts, Fagbemi remained resolved.
“That firmness has not only preserved our resources, but has established a precedent that such schemes no longer find a base in Nigeria.
“They will pay and have already begun paying. Each penny will be recovered,” said Abdulsalam-Alada.
Responding, the AGF praised Abdulsalam-Allada as the “silent hero” of Nigeria's triumph in the legal fight of a decade and added that “Kofo Salam-Alada is the definition of a silent hero.
“He works tirelessly behind the scene without expectation of recognition. Although many have praised my resistance by rejecting the agreement with the scammers, the true strength came from the unwavering support of the FRN-P & ID coordinating team led by Kofo. His work sat the foundations for our case in court.”
Fagbemi said that although Abdulsalam-Alada is leaving the public service, its legacy of diligence, integrity and quiet leadership will last.
Also read: Nigeria pioners sustainable health financing reforms, establishes a global reference point – Minister
“Humility, humanity and the dedication to the Kofo service define its mandate. Leave a culture of legal excellence and ethical leadership.
“It's discouraging to see him leave, but I'm sure Nigeria will continue to invoke his experience,” he said.
The AGF also used the occasion to congratulate Nigeria's legal team in the United Kingdom for its strategic brilliance and commitment to justice.
“For our partners in the United Kingdom, their efforts have safeguarded Nigeria's resources and reaffirmed our faith in the justice system.
“This case was complex and unprecedented, threatening to load Nigeria with a responsibility of $ 11 billion.
“But his ability to unravel his fraudulent base and ensure a favorable decision is a testimony of his experience and resolution,” said the AGF.
He described the result as more than a legal victory: it was a message for the world that Nigeria would no longer be an easy goal for fraud and exploitation.
It would be remembered that the Superior Court of the United Kingdom, in a ruling in October 2023, confirmed Nigeria's challenge to an arbitration prize of $ 11 billion awarded in 2017 to P&D ID, a Shell British Virgin Islands company backed by a coverage fund.
P&D had claimed damage after an alleged gas processing agreement collapsed with the Nigeria Ministry of Petroleum Resources.
However, the investigations revealed that P&D never obtained land for the project site in Calabar, nor demonstrated any ability to execute the project.
The court determined that the company depended on bribery, false claims and the misuse of privileged documents to press their case.
Fagbemi, citing the sentence and presentations of Nigeria's main lawyer, Mark Howard Kc, said the court agreed that “P&D was exactly the type of entity prepared to participate in bribes to achieve its objectives, avoiding wealth beyond the dreams of greed.”
The AGF revealed that P&D had made repeated proposals to the government to negotiate an agreement, but the administration of President Bola Tinubu refused to tolerate any commitment to the scammers.
“This government will not go to hand with fraudulent counterparts. The victory is historical, not only for Nigeria, but for all developing nations vulnerable to similar predatory tactics,” he said and added that the case raised serious risks for the foreign reserves of Nigeria, their assets abroad and their monetary and fiscal stability.
The successful defense was possible thanks to a coordinated response that involved key agencies, including the Ministry of Justice, EFCC, the Nigeria Police, CBN, the Ministry of Petroleum Resources, NNPCL, DSS and NFIU.
Nigerian tribe