Tag: court order

P&ID Judgement: Nigeria ordered to pay $200mn to ensure stay of execution

Process and Industrial Development (P&ID) says the Nigerian Government will now have to put its money where its mouth is if it wants to avoid immediate seizure of its assets. This comes after a U.K judge granted Nigeria’s request for a stay of execution on any asset seizures while its legal challenge of the $9.6 billion verdict is pending. But, the court ordered Nigeria to pay $200 million to the court within 60 days to ensure the stay. James Langley, Partner at Dentos joins CNBC Africa to discuss this development.
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