UK Supreme Court Upholds £44m Costs Award in Favor of Nigeria Against P&ID

The UK Supreme Court dismissed an appeal by Process and Industrial Developments Limited (P&ID) against a cost order in favor of Nigeria, upholding the £44m costs award to be paid in pounds sterling. The court ruled that the costs should not be paid in naira, rejecting P&ID's argument of unfair windfall due to currency depreciation.

This decision affirms Nigeria's success in challenging the fraudulent $11bn arbitration award. The court emphasized that cost orders are discretionary and not compensatory, cautioning against disproportionate legal battles.