The P& ID contract scam may open a pandora box as a New York federal judge has ruled that Nigeria can subpoena 10 banks in the United States for information needed to prosecute government officials allegedly connected to a British Virgin Island engineering firm’s alleged bribery scheme and subsequent $9.6 billion arbitral claim.
According to a May 8 report in legal website law360.com, District Judge Lorna Schofield, who gave the ruling, ordered the banks to allow the Nigerian government have access to sundry account details of officials listed in its subpoena request.
The move, the judge ruled, would enable the Nigerian government prove its claim that the $9.6 billion arbitration was obtained by Process and Industrial Development (P&ID) by fraud.
Nigerian government is demanding records of 60 companies and individuals from 10 banks in the United States as part of its efforts to overturn the controversial $9.6 billion P&ID fine.
Among the individuals whose bank records are being sought are a former Nigerian president, Goodluck Jonathan; his wife, Patience Jonathan; among others.
Mr Jonathan has denied owning any foreign accounts.. Nigeria is seeking documents from 10 top banks including Citigroup Inc. and JPMorgan Chase & Co., in a bid to overturn a $9.6 billion arbitration award.
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