LONDON - Process & Industrial Developments Limited (P&ID) has lambasted “endemic, institutional incompetence” within Nigeria’s government, all the way up to President Buhari, as it defends itself against accusations of corruption and fraud in an English court.

Dubbed ‘trial of the century’, this latest twist – if accepted by the court – places much of the blame squarely on the shoulders of Nigerian officials.

The trial, which just opened last week, pits Nigeria against P&ID, with the former trying to overturn a decision by the arbitration tribunal in London that ruled in favour of the company after the agreement collapsed in 2010.

If Nigeria loses the case, it would be liable to pay P&ID close to a third of its foreign reserves – a financial burden that could threaten Africa’s biggest economy,

The offshore company that won a record-breaking arbitration award against Nigeria, has laid the country’s legal defeat at the feet of outgoing president Muhammadu Buhari.

P&ID has lambasted “endemic, institutional incompetence” within Nigeria’s government as it defends itself against accusations of corruption and fraud in an English court.