P&ID $11bn Victory: Tayo Oyetibo Celebrates With Nigeria

Tayo Oyetibo LP, a leading multi service Law Firm in Nigeria has celebrates with Nigeria on this occasion of her victory in the all-important case of Federal Government of Nigeria (FGN) V. Process & Industrial Development (P&ID).

In a statement Tuesday, the top law firm stated: “We are pleased to have acted as lead counsel in the consortium of Nigerian Law Firms that acted for the Federal Government of Nigeria in this landmark case. In this case, the FGN filed an application to challenge and set aside the arbitral award of $6.6 billion, rising to more than $11 billion after interest, which was the largest ever award made against Nigeria.

“TOLP led the team that represented the FGN in legal proceedings in Nigeria and provided all necessary legal support in Nigeria and to the law firms engaged by the FGN in the United Kingdom and elsewhere.

“This judgment marks a significant milestone in the pursuit of justice and the protection of Nigeria’s interests with the English Court ruling in favour of Nigeria based on the findings that the contract was obtained by fraudulent means and was contrary to public policy.”

The TOLP team was led by our Chief Counsel, Tayo Oyetibo, SAN, FOCIArb and head of our Arbitration and Commercial Litigation Practice, Mofesomo Tayo Oyetibo, FCIArb.