{
  "id": 9461614,
  "title": "Sun(Set) for $2.35 Billion Scam",
  "url": "https://urgent.news/2026/09/24/sun-set-for-2-35-billion-scam",
  "topic": "world",
  "section": "World",
  "published": "2026-09-24T01:21:54.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/09/24/sunset-for-2-35-billion-scam/"
  },
  "original_language": "en",
  "account": "In October 2023, Nigeria successfully sued Process & Industrial Developments (P&ID) Limited for defrauding the country of an alleged $11 billion. The case, won by the federal government lawyer Mark Howard, highlighted how the company obtained a contract through deceit and bribery. Justice Robin Knowles noted the pervasive issue of corruption in Nigeria, stating that the case revealed a culture where individuals will do anything for money, including harming others, even the people of Nigeria.\n\nRecently, an International Chamber of Commerce tribunal in Paris dismissed a $2.35 billion compensation claim against Nigeria, filed by Sunrise Power and Transmission Company Limited (SPTCL). The company's promoter, Leno Adesanya, was alleged to have orchestrated a corrupt deal with public officials and private individuals. Adesanya's actions followed a pattern seen in other failed Nigerian scams, where idle billionaires are created by targeting thriving sectors, coercing civil/public servants into signing questionable contracts, and later seeking enforcement in court.\n\nThe scandals surrounding P&ID and SPTCL have exposed the deep connections between Nigerian public sector corruption and private sector operators. These high-rolling individuals are well aware that corruption offers a low-risk, high-reward opportunity, but they often escape punishment. This disregard for accountability has contributed to a culture of bribery and corruption in Nigeria, as evidenced by various cases, including the $182 million Halliburton bribery scandal in Nigeria.\n\nThe Paris tribunal's deliberations between Prof. Sope Williams, an anti-corruption expert, and Ebenezer Obadare, a senior fellow for Africa studies at the Council on Foreign Relations, shed light on the cultural context surrounding corruption in Nigeria. Both experts emphasized that it is inappropriate to excuse bribery and corruption based on cultural norms. This perspective was echoed in the Halliburton case, where British lawyer Jeffrey Tesler admitted to accepting corrupt standards of behavior as part of the Nigerian \"business culture.\"\n\nWith another multibillion-dollar scam against Nigeria thwarted abroad, several lessons should be drawn. First, there is a need to change the cultural mindset that encourages Nigerian businesspeople to defraud their country or pay bribes to secure contracts. Second, a well-articulated National Arbitration Policy must be implemented to make it difficult for corrupt individuals to exploit the legal system for personal gain.",
  "summary": "Olusegun Adeniyi In October 2023, Nigeria won its case against Process & Industrial Developments (P&ID) Limited which had been seeking enforcement of a fraudulent $11 billion judgement debt in its",
  "key_points": [
    "Nigeria successfully sued P&ID Limited for $11 billion in October 2023",
    "Sunrise Power and Transmission Company Limited's $2.35 billion claim dismissed by Paris tribunal",
    "Corruption and bribery deeply entrenched in Nigerian public and private sectors"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}