Tag: gas project

P&ID Case: Nigeria gives $200mn guarantee for stay on asset seizures

A spokesman for Nigeria’s Attorney General says the Nigerian government on Thursday placed a bank guarantee of 200 million dollars with a high court in London to secure a stay on asset seizures of up to $9 billion related to a failed gas project in an ongoing case with Process & Industrial Developments. Constitutional Lawyer and Rights Advocate, Evans Ufeli joins CNBC Africa to discuss this story.

President Buhari: $9.6bn P&ID case, an example of a ‘scam’

At the General Debate of the on-going 74th Session of the United Nations General Assembly, Nigeria’s President Muhammadu Buhari described the controversial $9.6 billion failed gas project case between Nigerian and Process and Industrial Development as an example of a ‘scam’. To breakdown the legalities around the case, Chinedu Anaje, Managing Partner at A02 Law joins CNBC Africa for more.