Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has described Nigeria’s victory in the $11bn arbitration case against Process and Industrial Developments  as a defining moment in the nation’s fight against corruption and economic sabotage.

Speaking in Abuja during a courtesy visit by members of the P&ID Federal Republic of Nigeria coordinating team and their UK legal partners, Fagbemi praised the legal battle as “one of the greatest litigation victories in Nigeria’s history.”

The case, stemming from a fraudulent gas processing agreement signed in 2010, ended in October 2023 when a UK court nullified the $11bn arbitration award against Nigeria.

 The Business and Property Court in London ruled that the award had been obtained through fraud and was contrary to public policy. The court also ordered P&ID to pay £20 million in damages to Nigeria.

Fagbemi emphasised that the landmark judgment spared Nigeria from a crippling financial burden.

“This case was complex and unprecedented, threatening to burden Nigeria with an $11 billion liability. But your ability to unravel its fraudulence and secure a favorable ruling is a testament to your expertise and resolve,” he told the UK legal team.

He also revealed that P&ID had repeatedly tried to negotiate a settlement.

“This government will not go hand in glove with fraudulent counterparties,” he said.

“The President reaffirmed this position earlier today at the Nigeria Economic Summit Group. The victory is historic, not just for Nigeria, but for all developing nations vulnerable to similar predatory tactics.”

Highlighting the seriousness of the fraud, Fagbemi quoted Nigeria’s lead counsel, Mark Howard KC, who told the court that “P&ID was exactly the type of entity prepared to engage in bribery to achieve its aims—seeking riches beyond the dreams of avarice.”

Reflecting on the effort behind the scenes, Fagbemi praised Kofo Salam-Alada, the retiring National Coordinator of Legal and Investigation for the P&ID FRN team.

“Kofo Salam-Alada is the epitome of a silent hero. He tirelessly worked behind the scenes without seeking applause or recognition, laying the groundwork for the success we now celebrate.”

He described Salam-Alada’s departure from public service as bittersweet, adding:

“Beyond his professional achievements, his humanity, humility, and dedication to service will be most remembered.”

UK-based lawyer Shaistah Akhtar, partner at Mischon de Reya and Head of Nigeria’s litigation team, described the ruling as “unprecedented in English courts.”

“Such a result has never been achieved before, and it serves as a deterrent to others,” she said.

In his remarks, Salam-Alada applauded the AGF and President Tinubu for their firm stand against pressure to settle.

“It took the commitment of the current government to rescue the country from the hands of fraudsters. Despite immense pressure to settle out of court, Fagbemi remained resolute. That firmness has not only preserved our resources but has set a precedent that such schemes will no longer find footing in Nigeria.”

He added, “They will pay back—and have already started to pay. Every cent will be recovered.”

Fagbemi concluded that the victory sends a strong message globally.

“This judgment is a milestone in our fight against corruption. It vindicates the Nigerian government and should deter future attempts to swindle the nation.”