JUST IN: $9.6bn judgment: Uk grants FG $200m security stay of execution
The United Kingdom Commercial and Arbitration Court has earlier granted a stay of execution of a judgment that demands Nigeria to pay the sum of $9.6 billion to Process and industrial Development Limited over a failed gas contract.
The UK court, as ordered Nigeria to pay a security fee in the sum of $200 million for the stay of the execution prior to the hearing of the appeal in court.
Nigeria had earlier been granted leave to appeal the judgement by the UK court.
