Nigeria received relief from a lawsuit filed by P&ID , a company registered in the UK. The case had been ongoing for over a decade and could have resulted in a significant loss of foreign exchange reserves for Nigeria .
The London Court of International Arbitration had previously awarded $6.6 billion to P&ID for a gas plant contract that Nigeria failed to fulfill. However, in October, the High Court in London overturned the verdict, stating that P&ID obtained the contract through bribery.
Source: News Formal (newsformal.com)
Nigeria P&ID Lawsuit Gas Sector Contract Bribery
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