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Buhari, Not Jonathan to Be Blamed for $9bn Judgement Debt, Says P&ID
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The attempt by President Muhammadu Buhari to pin the $9billion British court’s judgement debt on former President, Goodluck Jonathan, has been dismissed by the Process and Industrial Developments Limited (P&ID), the very Irish company, that is in the thick of the entire saga.
P&ID in a clear statement, on Friday, completely absolved the former President of culpability and blamed both Buhari and the Attorney General, Abubakar Malami responsible for the development.
The company, in attempt to set the record straight, P&ID, detailed how the Buhari government, practically slept on the issue and accused Malami particularly of trying to revise history and introduce allegations of contract fraud.
Read the full statement:
Malami’s Revisionist History
It is another day, and with it comes another attempt from the Nigerian Government to create a fictional history of the P&ID case.
This week’s series of desperate conspiracy theories point to something deeper: the Buhari Administration is refusing to admit its own role in the P&ID case from 2015-2019 after it came into office.
Appearing on CNBC Africa, Attorney General Abubakar Malami sought to wipe his hands and the hands of the Buhari Administration clean when he stated, “[t]he government as a unit was delicately involved. And that was the government in 2010, the award was in 2012, and then three years thereafter the current administration under the leadership of Muhammadu Buhari came into place. So the time when this administration came to place in 2015, the award was over three years, there was no appeal, no application for execution, no application to set the award aside.”
Attorney General Malami seems to have a case of amnesia.
Let’s set the record straight:
May 3, 2015: P&ID offers to settle the dispute with the Nigerian Government for $850mm. President Goodluck Jonathan indicates they are handing over the negotiations to the incoming Buhari Administration.
May 29, 2015: Muhammadu Buhari is sworn in as the 15th President of Nigeria, but fails to appoint a cabinet for five months.
July 17, 2015: The Arbitration Tribunal found in favor of P&ID (i.e. – the Liability Award). The new Buhari Administration did not make any attempts at settling or negotiating with P&ID, and did not make any effort to challenge the decision.
November 11, 2015: Attorney General Malami was sworn in November 11, 2015, just under three months after the Liability Award.
May 27, 2016: The Arbitration Tribunal wrote to the Nigeria Government confirming that: “As the parties will be aware from Procedural Order No 12, the Tribunal has decided that the seat of the arbitration is England. It follows that the Federal Court of Nigeria had no jurisdiction to set aside its Award.” Neither Attorney General Malami, nor any representative of the Buhari Administration did anything in response other than continue with the proceedings, thereby tacitly accepting the analysis of the Arbitration Tribunal.
June 24, 2016: Having failed to set aside the Liability Award by falsely claiming the seat of arbitration was in Nigeria; not England, Attorney General Malami wrote personally to the arbitrators to say “my office has taken over the handling of the above arbitration on behalf of the Ministry of Petroleum Resources.” He asked for and obtained an extension of time to file a defence to quantum, and appointed his own legal team in place of the Ministry of Petroleum Resource’s legal team.
August 30-31, 2016: The Quantum Hearing (i.e. – amount of damages payable) takes place in London. Attorney General Malami’s legal team conducted Nigeria’s defence at the quantum hearing. Expert witnesses as to quantum were called to give evidence and were cross-examined.
After the Quantum Hearing, Attorney General Malami instructed his lawyers to request a standstill agreement, which would take effect from the date of the Award.
This fact has never been publicly reported until today.
January 31, 2017: The Arbitral Tribunal issued a final award, ordering Nigeria to pay P&ID $6.5 billion plus $2.3 billion in uncollected interest as of March 2018.
February 17, 2017: The Award on Quantum was delivered to the parties on February 17, 2017. Despite the 60-day standstill having been agreed by P&ID, Attorney General Malami made no attempt to negotiate with P&ID during the 60 days following the handing down of the Quantum Award.
April 28, 2017: After the 60 days had expired, Attorney General Malami instructed his lawyers to write to P&ID’s lawyers and explained that “The delay was occasioned by the bureaucracy of the Federal Government in a bid to determine a reasonable strategy after receipt of the Arbitral award.” The Attorney General’s lawyers added: “we now have the authority of the Vice President of the Federal Republic of Nigeria to meet with the Claimant to negotiate the Terms of the Arbitral award.”
Today: In the lead up to the judgment by the English Commercial Court, Attorney General Malami allowed the time for acknowledging service in both the United States and London to lapse without filing any response. In both jurisdictions, Nigeria’s lawyers Curtis Mallet had to apply for ex post facto extensions of time and make the necessary apologies and explanations to the court.
In London, a senior Curtis Mallet partner explained that the Claim Form was “immediately filed and not passed up the chain of command” at the Ministry of Justice. The partner pleaded that “the delay was neither deliberate nor intended to be disrespectful to the Court.”
In the US, Curtis Mallet explained that the deadline was missed because they were in the process of being formally retained by the Nigerian Government and had been instructed to enquire about the potential for a settlement
The Attorney General’s pronouncements in the Nigerian press are a clear attempt to cover up his own incompetence and that of the Buhari Administration. This is a matter, which could have been settled shortly after he took office in November 2015 for $850 million. Instead, he personally took the decision to gamble on the arbitration and turned an $850 million liability into a $9.6 billion liability.
And at no time since has Attorney General Malami assumed responsibility has he raised any allegation of fraud or scam, either in the arbitration or in the subsequent enforcement proceedings. The reason for this is that there was no fraud. All of this raises serious concerns for foreign investors in Nigeria, whether you are investing in a commercial enterprise or buying Eurobonds. Not only will Nigeria deliberately refuse to pay an international arbitration award backed by an English Court, but they are prepared to launch sham investigations and character assassinations when all else fails.
This is a serious assault on the Rule of Law by a demonstrably dishonest administration.
Meanwhile, P&ID is now focused on vigorously enforcing its legal rights in the UK, including seizing Nigerian assets to satisfy the award. This will begin as soon as possible.
Source: whirlwindnews
Headlines
Trump Claims US Now in Total Control of Strait of Hormuz
United States President, Donald Trump, says his country is now in “total control” of the Strait of Hormuz amid ongoing tensions with Iran over the reopening of the strategic waterway.
Trump made the claim while speaking to reporters at Joint Base Andrews, saying the situation with Iran was progressing well despite continued disagreements between both countries.
“Iran is going fine – going just absolutely fine. We totally control the Strait of Hormuz. We have control over it; nobody else, only us. Our navy is unbelievable, and things going great for our country,” Trump told reporters at Joint Base Andrews.
“I don’t trust Iran. I’m the last person to trust Iran; they’ve lied to me constantly. We have total control over the Hormuz Strait right now; they don’t have control,” he added.
The claim comes as the United States and Iran continue to exchange demands over the reopening of the Strait of Hormuz, casting further uncertainty over negotiations aimed at ending their five-month conflict.
Although the US has confirmed its involvement in the talks, Iran maintains that it is negotiating directly only with Oman. Tehran has also proposed that the future management of the strategic waterway be shared with Oman.
The Strait of Hormuz is a critical global energy route, with about one-fifth of the world’s oil and liquefied natural gas supplies passing through it before the US-Israel war with Iran began at the end of February.
On Monday, Trump said he would seek compensation from Iran for deaths and injuries associated with conflicts and attacks spanning several decades.
His position followed Iran’s demands for reparations over the war last week, as Tehran said it would not reopen the strait until Washington addresses its political and economic conditions.
Headlines
ADC Rejects ICPC Report on PFIPC, Queries N1.3bn Budget Allocation to Fake Agency
The African Democratic Congress (ADC) has rejected the interim report of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on the controversial Presidential Foreign Investment Promotion Council (PFIPC), arguing that the findings leave some of the biggest questions surrounding the scandal unanswered.
The opposition party said the report appeared to focus more on limiting political fallout than establishing how a purported government agency allegedly gained access to official institutions, occupied government office space and received other forms of state recognition despite questions over its legal status.
The ADC’s position was contained in a statement issued on Saturday by its National Publicity Secretary, Bolaji Abdullahi.
The controversy surrounding the PFIPC has intensified in recent weeks following allegations that the organisation operated as a government agency despite questions over its establishment, with its purported Director-General, Adeniyi Adeyemi, facing scrutiny from law enforcement agencies and lawmakers.
The party said the ICPC’s interim findings had failed to provide satisfactory explanations for how the organisation allegedly secured office accommodation within the Federal Secretariat, attracted civil servants, obtained official recognition and appeared in the 2026 federal budget with a reported allocation of N1.3 billion.
The ADC recalled that it had previously opposed President Bola Tinubu’s decision to assign the investigation to the ICPC, insisting that an independent panel would have been better positioned to investigate the matter without questions about institutional proximity.
According to the opposition party, the interim nature of the ICPC report made it even more difficult to understand why the commission appeared to be pointing responsibility towards Adeyemi while simultaneously maintaining that its investigation was still ongoing.
“The report is not only predictable, it appears more concerned with exonerating government officials rather than providing clear answers to the serious questions that the scandal has raised,” the party said.
The ADC argued that the controversy could not simply be dismissed as an administrative failure.
It maintained that if the PFIPC was indeed established through fraudulent representations, there were still important questions about how those representations allegedly passed through several layers of government without being detected.
“A forgery may explain the first door that was opened. It cannot explain why every subsequent door appears to have opened as well,” the party said.
For the ADC, the central issue is not simply whether Adeyemi allegedly forged documents or misrepresented himself.
The party wants investigators to establish how an organisation whose legitimacy is now being questioned could allegedly secure office accommodation, civil servants, official vehicles and other institutional support.
It argued that such developments would ordinarily require interaction with multiple government departments and officials.
The party therefore questioned whether the alleged activities were facilitated by negligence, institutional failure or possible complicity within government.
The ADC also raised concerns over reports that the ICPC had identified two other allegedly fictitious organisations linked to Adeyemi.
Rather than viewing that development as evidence of an isolated individual operation, the party said it should prompt investigators to widen the scope of their inquiry.
One of the most significant issues raised by the opposition party was the reported N1.3 billion allocation to the PFIPC in the 2026 Appropriation Act.
The ADC argued that a provision of that magnitude should have generated a clear paper trail involving budget submissions, reviews, approvals and verification.
“Budgetary provisions do not materialise by accident,” the party said.
It consequently demanded to know who proposed the allocation, which government officials processed it and who verified the existence and legitimacy of the purported agency before the provision was included in the federal budget.
The party noted that the House of Representatives had already begun its own investigation into how the PFIPC allegedly found its way into the federal budget.
According to the ADC, the legislative inquiry could provide an opportunity to establish whether the budget allocation resulted from deliberate manipulation, administrative negligence or failures within the government’s budgetary verification system.
The opposition party also criticised the reported recommendation that Adeyemi be prosecuted.
It argued that the ICPC’s decision to single out the purported PFIPC director-general appeared premature if, as the commission itself indicated, its investigation remained ongoing.
“If all that the commission had to present was a preliminary report, why not simply present it as a confidential brief to the President instead of making a public drama of it?” the ADC asked.
The party said the investigation should not be structured around finding a convenient individual to blame but should instead establish everyone who may have played a role in allowing the alleged operation to continue.
The ADC described the controversy as a national embarrassment and called on the ICPC to release the full interim report rather than only selected findings.
It also demanded that any public officials whose actions or negligence enabled the purported agency to operate be identified and investigated.
The party stressed that anyone found culpable should face appropriate sanctions after due process.
“What has happened is a national disgrace in the full glare of the entire world. No serious government should be satisfied with identifying one culprit for prosecution,” the party said.
The ADC maintained that Nigerians were not asking investigators to manufacture suspects or reach predetermined conclusions.
Rather, it said, the investigation should follow the evidence wherever it leads — including into government offices if necessary.
At the heart of the controversy, according to the opposition party, is a simple question: if the PFIPC is not a legitimate government agency, how did it allegedly get so far inside the machinery of government without multiple officials noticing?
That, the ADC argued, is the question the ongoing investigations must ultimately answer.
Headlines
Atiku Raises Alarm over ‘Mysterious’ Credit into Private Bank Account
Former Vice President and African Democratic Congress (ADC) Presidential Candidate, Atiku Abubakar, has raised concerns over what he described as a suspicious and unauthorised payment into one of his private bank accounts.
In a statement issued on Friday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said the transfer originated from an individual or entity unknown to him and carried the narration, “Contribution Electioneering Campaign.”
According to the statement, neither Atiku nor his campaign solicited, authorised or had any knowledge of the payment.
The former Vice President said the account was strictly private and its details were not in the public domain, raising concerns about how the information could have been obtained.
“How did unknown persons obtain the confidential banking details of a private citizen?”
Atiku said the incident raised broader concerns about the security of Nigerians’ financial information, particularly if the private banking details of a former Vice President and presidential candidate could allegedly be accessed without his consent.
“If the private banking information of a former Vice President and a leading presidential candidate can be accessed and deployed for reasons yet unknown, then no Nigerian’s financial privacy is safe.”
He further expressed concern that the alleged disclosure could have involved individuals with privileged access to confidential information.
According to him, if such access is established, it could expose account holders to criminal elements, including kidnappers, terrorists, bandits and fraudsters.
The former Vice President also called the attention of Nigerians and security agencies to the incident, describing it as part of what he termed a series of “suspicious activities” ahead of the 2027 general elections.
“We therefore put the Nigerian public and the security agencies on notice about this latest incident in a litany of suspicious activities leading up to next year’s general elections.”
Atiku also alleged that the incident could be part of an attempt to damage his reputation as political activities intensify ahead of the elections.
He urged Nigerians not to be distracted by what he described as “tired tactics” aimed at character assassination.
“Such desperate antics have failed before and will fail again.”
The ADC presidential candidate said he remained focused on his political agenda and his stated commitment to providing solutions to the country’s challenges.
“The Waziri Adamawa remains focused on offering Nigerians credible leadership and practical solutions to the nation’s challenges.”






