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Presidential aide, Bayo Onanuga, has lauded Nigeria’s success in the $ 11 billion Process & Industrial Developments (P&ID) Limited arbitration award.
The success on Monday ended the legal battle Nigeria has been in since January 2017 when a $6.6 billion fine was imposed on the country over a failed gas processing contract.
With the interest rate fixed at seven per cent amounting to $1 million a day, the potential payment had accumulated to over $11 billion before the verdict.
Reacting in a post via his X handle on Monday, Onanuga said Nigeria really avoided a deadly bullet with the court ruling which halted the payment of over $11 billion to the company.
He said if the court had ruled that the country should pay the dubious $11.5 billion, it would have been a devastating blow to the nation and its finances.
Onanuga called on the Ministry of Justice, the EFCC and other agencies to probe the attempted treasonable swindling of the country and must ensure that those Nigerians involved in the scam are not spared.
He wrote: “Our country Nigeria just dodged what would have been a very lethal bullet from the scamming P&ID, working in collaboration with unpatriotic ‘Akotileta’ Nigerians.
“If the court had ruled that we should pay the dubious $11.5 billion, it would have been a devastating blow to our finances and our country.
“The Justice Ministry, the EFCC and other agencies probing the attempted treasonable swindling of our country must ensure that those Nigerians involved in the “mother of all scams” are not spared.
”Attention must also be beamed on similar scams that these unpatriotic Nigerians have entangled our country.
“Those P&ID traitors are lucky that they are not Chinese citizens as they would have earned a date to face the firing squad.”
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