CBN Governor Godwin Emefiele has responded after a British court ordered Nigeria to pay $ 9 billion to a small oil company.
Mr Emefiele told reporters on Monday that the government would not accept the court's ruling, which could jeopardize the country's foreign currency reserves.
"We know that within the context of the sanctions, it is affecting the country's financial policies and that is why CBN is trying to protect Nigeria and protect its foreign currency," he said The Nigerian government says it is looking into the possibility of arresting officials accused in a court case that required it to pay a company $ 9 billion for breach of contract.
The court ordered the Nigerian government on Friday to pay Process & Industrial Developments Ltd (P&ID) such sums to seize the government's assets.
Earlier in 2017, the court had asked the country to pay the company about $ 6.6 billion before now and the London court had raised $ 2 billion.
The sum is about 20% of Nigeria's total wealth of $ 45 billion.
Presidential spokesman, Garba Shehu, has said it was an old case that failed previous government officials had appealed to the courts to allow it to pass.
"Authorities in those days did not appeal until the door was shut," he said.
He also said that the Buhari administration had tried to take action to delay the implementation of the ruling to open the door of appeal, but the court in England said it would not give this opportunity.
He accused government officials of neglecting what he called "their cooperation to harm Nigeria until they let it go."
He said that despite the government's appeal, the first thing to do is that anyone who has a hand in this cooperation to merge Nigeria with a foreign company will be put in place by the government. capture them and take action against them.
A statement on the company's website said the agreement allows it to build a gas processing plant that Nigeria will accept as a gift for developing electricity in the country.
But the company said it faces daily liquidity because of the breach of the agreement, a matter which Nigerian government lawyers say is too slow.
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