The Federal Government has recovered the sum of $200 million and another $10 million award it deposited as bond in a UK court towards its defence of the $11 billion arbitral award to Process and Industrial Development (P&ID) Ltd.

The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), disclosed this on Thursday during a visit by a team of lawyers who defended the country in the UK to the Ministry led by Shaistah Akhtar.

Fagbemi commended the efforts of Akhtar and a former Director of Legal in the ministry, Kofo Salam-Alada, in the legal victory and recovery of funds to the Federal Government.

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He said, “The whole country has celebrated our success in the Process & Industrial Developments Ltd (P&ID) case and applauded my resilience and determination not to negotiate or settle with the fraudsters but many do not know that my strength was derived from dedicated and uprightness of the FGN-P&ID coordinating team which was led by Kofo Salam-Alada who gave me the necessary support.”

Fagbemi also wished Salam-Alada happy retirement from the service, saying “it is personally disheartening for me to bid Kofo farewell from the public service career, but I have taken solace in the fact that a golden fish has no hiding place and it therefore certain that the country will continue to beckon on him for the benefit of all Nigerians.

Earlier, Akthar, who was accompanied by Lydia Allaby, explained that the $10m paid was to Nigeria from the $20m awarded in favour of Nigeria after P&ID lost the case. She, however, added that the outstanding $10m is a subject of legal challenge by the firm.

She noted that the Nigerian case was among the only 14% of successful challenges against arbitral award cases.