Thursday, June 26, 2025
  • About
  • Advertise
  • Careers
  • Contact
Newsroom Nigeria
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life
No Result
View All Result
Newsroom Nigeria
Home JUDICIARY

P&ID JUDGEMENT DEBT VICTORY: HEDA CALLS FOR NATIONAL HONOUR FOR MAGU

Olanrewaju Suraju described the victory as a triumphant moment for Nigeria and its citizens, particularly the Economic and Financial Crimes Commission

Newsroom Nigeria by Newsroom Nigeria
October 27, 2023
in JUDICIARY, News
Reading Time: 2 mins read
0
SHARES
Share on FacebookShare on Twitter

The Human and Environmental Development Agenda (HEDA Resource Centre), a preeminent civil society organization dedicated to the fight against corruption in Nigeria, has celebrated a significant victory for the nation at the London’s High Court, as it successfully overturned an astonishing $11 billion damages bill associated with a corrupt collapsed gas project.

In a statement released by HEDA, the organisation’s Chairman, Olanrewaju Suraju, described the victory as a triumphant moment for Nigeria and its citizens, particularly the Economic and Financial Crimes Commission, saying the accomplishment signals a crucial milestone in the ongoing struggle against economic malpractice and the exploitation of African nations by international briefcase companies and citizens.

Related posts

Alleged N110b Fraud: Court Adjourns Yahaya Bello’s Trial to July 8

Alleged N110b Fraud: Court Adjourns Yahaya Bello’s Trial to July 8

June 26, 2025

Fidelity MD, Onyeali-Ikpe Urges Women to Embrace Lifelong Learning and Collaboration for Career Success

June 22, 2025

“We at HEDA Resource Centre want to fervently applaud the Nigerian government’s unwavering commitment to pursuing justice and safeguarding the interests of its people. The outcome in London legal action serves as a testament to the tireless efforts invested in protecting Nigeria’s financial stability and international reputation by the EFCC, particularly under the Chairmanship of its former Chairman, Ibrahim Magu.”

“This legal victory underscores the resilience of some committed Nigerians and institutions in the face of adversity and sets a precedent for holding accountable those who seek to take advantage of African resources, system and corrupt public officials.” Suraju added.

The roots of this legal dispute trace back to a demand that Africa’s most populous country pay an exorbitant $11 billion sum, equivalent to approximately one-third of its foreign exchange reserves, to Process & Industrial Developments (P&ID), a shelf company domiciled in the British Virgin Islands.

Nigeria promptly contested this demand, asserting that P&ID had engaged in corrupt practices by bribing senior officials to secure the contract and had further compromised the country’s legal representation to access confidential documents during the arbitration process. In response, P&ID vehemently denied these allegations and instead accused Nigeria of systemic incompetence.

In a groundbreaking judgment, Judge Robin Knowles of the London’s High Court uncovered evidence of bribery involving a Nigerian oil ministry official in connection with the gas contract signed in 2010. P&ID had failed to disclose this corrupt practice during the arbitration proceedings .

Judge Knowles expressed his stern disapproval of the actions of certain individuals driven by greed, who were willing to employ corruption without concern for the harm it would cause to others.

Suraju also maintained that the EFCC should sustain its prosecution of all those Nigerians, public officials, and private professionals, in cahoots with P&ID in the criminal conspiracy against the interest of the country for not only financial crimes but also economic sabotage. For leading the torturous and successful fight, in the face of local and international pressure, the former Chairman of EFCC, Ibrahim Magu should be awarded a national honour by President Bola Tinubu.

ShareTweetSendShareShare
Previous Post

INEC Chairman, NSA Meet Over Imo, Kogi, Bayelsa Governorship Elections.

Next Post

TINUBU APPOINTS NEW LEADERSHIP TEAM FOR FEDERAL CIVIL SERVICE COMMISSION 

Related Posts

Alleged N110b Fraud: Court Adjourns Yahaya Bello’s Trial to July 8
JUDICIARY

Alleged N110b Fraud: Court Adjourns Yahaya Bello’s Trial to July 8

June 26, 2025
BANKING

Fidelity MD, Onyeali-Ikpe Urges Women to Embrace Lifelong Learning and Collaboration for Career Success

June 22, 2025
Foreign

WEST AFRICA MUST TURN DEMOGRAPHIC STRENGTH AND MINERAL WEALTH INTO JOBS AND INDUSTRY, SAYS TINUBU

June 21, 2025
Foreign

NIGERIA, BENIN SIGN INTEGRATION AGREEMENT AS PRESIDENTS TINUBU, TALON LEAD CALL FOR REGIONAL REFORMS

June 21, 2025
Foreign

GLOBAL ECONOMY WILL NOT WAIT FOR WEST AFRICA TO GET ITS ACT TOGETHER – TINUBU TELLS ECOWAS

June 21, 2025
INAUGURAL LECTURE: UNIVERSITY PROFESSOR OFFERS NEW PERSPECTIVES IN MARKETING
Education/Human Capital

INAUGURAL LECTURE: UNIVERSITY PROFESSOR OFFERS NEW PERSPECTIVES IN MARKETING

June 25, 2025
Next Post

TINUBU APPOINTS NEW LEADERSHIP TEAM FOR FEDERAL CIVIL SERVICE COMMISSION 

RECOMMENDED NEWS

AFENIFERE NATIONAL YOUTH COUNCIL PRESIDENT KIDNAPPED IN ABUJA. KIDNAPPERS DEMAND 100 MILLION NAIRA RANSOM.

4 months ago

LAGOS LAWYER SUES MTN, SEEKING DISSOLUTION OF BOARD

4 months ago

CERTIFICATE CONTROVERSY: NIGERIA’S REPUTATION IS AT STAKE – ATIKU

2 years ago

FASORANTI PRAYS AS TINUBU BRIEFS AFENIFERE ABOUT PRESIDENTIAL AMBITION

3 years ago

FOLLOW US

POPULAR NEWS

  • TAU Students Win Big   at National Innovation Challenge

    TAU Students Win Big   at National Innovation Challenge

    0 shares
    Share 0 Tweet 0
  • Troops Foil Deadly Terrorist Attack In Niger State, Lose 17 Soldiers

    0 shares
    Share 0 Tweet 0
  • ADEBAYO HELD ALOFT THE BANNER OF THE UPN, LED BY OBAFEMI AWOLOWO, TINUBU PENS TRIBUTE TO A TRUE STATESMAN

    0 shares
    Share 0 Tweet 0
  • TINUBU SIGNS  FOUR TAX BILLS INTO LAW TO TRANSFORM FISCAL, REVENUE FRAMEWORK

    0 shares
    Share 0 Tweet 0
  • INEC Receives Applications To Register Obidients People’s Party (OPP), 109 Other Political Parties Registration

    0 shares
    Share 0 Tweet 0
Newsroom Nigeria

This independent, liberal online news platform aims to inform citizens about important issues. NEWSROOM NIGERIA covers political, business, economic, national, and international news. They are committed to journalism ethics and hold the government accountable.

  • About
  • Advertise
  • Careers
  • Contact

© 2025 Newsroom Nigeria - Designed by Semasir Connect.

No Result
View All Result
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life

© 2025 Newsroom Nigeria - Designed by Semasir Connect.