Live Breaking News & Updates on Edge Fund Backed Firm Loses Bet Against Abuja

A judge in the London High Court has ruled against an award which could have cost Nigeria US$15 billion, but the shadow of corruption in the affair remains, Victory is claimed by all, said Tacitus, a historian of ancient Rome, failure by one alone. His point resonates with the 23 October verdict in the case of Nigeria versus Process & Industrial Development (P&ID), which seems to have been going on since the classical chronicler s days. President Bola Ahmed Tinubu welcomed a verdict that forensically dismantled the grounds for an award against Nigeria, with interest, of close to US$15 billion, a third of the country s reported foreign exchange reserves and more than it spends a year on health and education.
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