A former President of the Nigerian Bar Association, Olisa Agbakoba SAN, has lauded the Attorney-General of the Federation Abubakar Malami SAN, for the progress made so far in the country’s legal battle with Process and Industrial Development(P&ID).
Recall that a United Kingdom High Court Judge, Sir Ross Cranston, had last week, observed that Nigeria had provided evidence of fraud in the P&ID gas contract of 2010.
The court subsequently granted Nigeria’s application for extension of time to seek a possible overturn of the about $10 billion awarded against it.
In a statement on Monday, Agbakoba praised President Muhammadu Buhari’s administration, including the AGF, for a timely intervention in what could have been a huge economic loss for the country.
More so, he recommended that government should look into the issue of arbitrarial policy so as to strengthen the country’s capacity to deal with such type of fraudulent activities.
In the statement, floated on his legal firm’s twitter handle, Agbakoba, wrote, “The Government of President Buhari deserves full marks for a well fought legal battle, at least to this stage to persuade the English Judge, that even though Nigeria was well out of time to challenge the award, that on the basis of massive fraud in which the conduct of Nigeria,s counsel at Abitration, was in issue, Nigeria successfully persuaded the Judge that English public policy would oppose the unwitting use of the English courts as an engine of fraud, merely because Nigeria failed to challenge the Award in good time.
“As I salute Abubakar Malami SAN, learned Attorney-General of the Federation, I will invite him to consider the emplacement of a National Arbitration policy and a transformational review of the legal framework relating to Arbitration, so that in cases, such as this, where all the connecting factors are Nigerian, there will be no question of reference to foreign Arbitration.”
It may be also recalled that Malami had stressed about the federal government’s readiness to turn the country to a hub of arbitration.
