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Nigeria has emerged victorious from one of history's most brazen financial scams—the $11 billion P&ID arbitration claim—turning what could have been an economic catastrophe into a landmark anti-corruption precedent. The legal team behind the win reveals how presidential resolve and forensic investigations unraveled a web of bribery and false claims.
  • Scam Exposed: UK Court ruled P&ID's $11bn gas deal claim was built on bribery, forged documents, and zero project execution capacity.
  • Presidential Grit: Tinubu's refusal to settle, despite pressure, saved Nigeria from paying fraudulent damages exceeding 30% of foreign reserves.
  • Financial Recovery: P&ID has refunded 200millegallyreceivedandpaid200millegallyreceivedandpaid10m litigation costs, with more repayments expected.
  • Legal Heroics: Unsung coordinator Kofo Abdulsalam-Alada led forensic efforts proving P&ID never secured land in Calabar or had technical plans.
  • Global Warning: The case sets a precedent against "vulture fund" tactics targeting developing nations with fake arbitration claims.
Beyond the $210m recovered, this victory signals Nigeria's hardening stance against economic predators, proving that meticulous documentation and political will can overturn even the most entrenched fraud schemes.

As P&ID's shell company collapses under the weight of its deception, Nigeria rewrites the playbook for fighting corporate exploitation. Should Nigeria now audit all international arbitration cases to uncover similar scams?