The Nigerian Government has reportedly paid £250,000 to Process and Industrial Developments Limited as running costs in the $9.6billion asset seizure legal battle.
Naija Buzz News had few weeks ago reported that Justice Christopher Butcher of the London Commercial Court had on September 26, ordered the Federal Government following its appeal request against the $9.6billion judgement to pay P&ID £250,000 as running cost.
Apart from the amount to be paid to the company, the FG was also ordered to deposit $200million as security payment into the court account within 60days.
The FG however appealed against the order to pay $200million as security payment to the court account.
The judge who approved the FG request to appeal the judgement gave conditions to pay P&ID £250,000 in 14 days and $200million security deposit in 60 days.
The Federal Government had however alleged that it would be able to seek refund of the amount paid to P&ID when the appeal succeeded.
David Chima is the Group Head (Editors) at Naija Buzz News. He is a very experienced Journalist. He studied Mass Communication at the Nuhu Bamalli Polytechnic Zaria, Kaduna State, before proceeding for Advanced Studies in Mass Communication (Journalism) at the Federal Polytechnic Bauchi, Bauchi State. He previously served as the Head Senior Reporters and Publishers at 1Push.Ng and eventually Naija Buzz News. Chima is a lover of football and a very strong supporter of Barcelona Football Club Spain.