Abubakar Malami (SAN). Image credit: Channels TV

The Nigerian Government has paid £250,000 to Process and Industrial Developments Limited (P&ID) as its running cost as ordered by a British Court.

Concise News understands that Nigeria through the Central Bank of Nigeria (CBN) made the payment before the 14-day ultimatum elapsed on Thursday.

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This news medium had reported that Justice Butcher on September 26 granted Nigeria leave to appeal against the $9.6bn awarded in favour of P&ID over an alleged breach of a gas supply contract.

However, the court, in granting the leave, ordered Nigeria to pay the £250,000 cost to P&ID within 14 days.

But the Attorney-General of the Federation, Abubakar Malami (SAN), on Wednesday, said the government paid the £250,000 cost out of respect for the court.

Malami said: “You know that there are two sets of money involved. There is the $200m security payment and there is also the £250,000 cost.

“The $200m security payment has not been paid. We have appealed against the order and we have also applied for stay of execution of the order.

“But we have paid the cost, which is £250,000, to P&ID. The Nigerian government paid that cost out of respect for the court.”