From Godwin Tsa, Abuja
A former member of the House of Representatives, Robinson Uwak, has joined other Nigerians in congratulating President Bola Ahmed Tinubu over the victory of Nigeria at the British Commercial Court, Business and Property Section which on Monday nullified the arbitral award of $11 billion (with accumulated interests) against Nigeria.
In the judgment, Justice Robin Knowles found that the arbitral awards were obtained by fraud and that the manner of their procurement was contrary to public policy in Nigeria deserving nullification.
In a statement Thursday in Abuja, the ex-lawmaker from Akwa Inom State said the voiding of the sum, which would amount to half of our over N11 trillion, is a welcome relief to our dear country, Nigeria at a time of severe economic and social difficulties.
He said he consider “this lifeline given to us as a huge opportunity to save our foreign reserve, which has depleted considerably and revamp the potency of the naira.
I equally see this as a mild rebuke to our domestic and external contracting where breaches are rife, and the corruption among some cadres of the civil service.
These we must address by urgent reforms as there are still pending international arbitrations involving Nigeria,” Uwak noted.