Nigeria Wins $11bn P&ID Case In UK Court

Nigeria Wins $11bn P&ID Case In UK Court

Nigeria has successfully put a stop to the enforcement of the $11 billion arbitration award in favour of P&ID after an arduous legal battle lasting over five years.  The ruling, delivered via email by Robin Knowles, the judge of the Commercial Courts of England and Wales, hinged on Nigeria’s claim that the award was procured through fraudulent means. With this ruling, Judge Knowles faces the task of deciding on one of three options: returning the award to the tribunal for reconsideration, setting the award aside, in whole or in part, or declaring the award to be of no effect, in whole or in part.  The concerned parties will have the opportunity to present their arguments regarding the next course of action on a date to be arranged. The roots of this legal dispute can be traced back to a private arbitration tribunal’s decision on January 31, 2017, ordering Nigeria to pay $6.6 billion to P&ID, with interest accruing from March 20, 2013, fixed at seven percent, leading to a substantial accumulation that pushed the potential payment to over $11 billion prior to the final verdict. Judge Knowles, in his ruling, emphasized that the awards were obtained through fraudulent means and were contrary to public policy. He stressed the seriousness of the case and the importance of upholding the rule of law in such matters. Nigeria had appealed against the enforcement of the arbitration award, and the UK commercial court granted relief in September 2020, redirecting the case to the high court for a full trial.  The legal proceedings, spanning two months from January to March 2023, saw the Nigerian legal team argue that substantial evidence pointed to the contract and arbitration award being the result of “an audacious fraud on Nigeria.”  They sought to set aside the award, citing convictions related to corruption and money laundering as evidence of extensive misconduct.

NACAT sues Ag CBN gov, deputy, CCB over non-assets declaration 

Nigeria’s Q1 fiscal deficit moves to N1.430trn – Report  

The Network Against Corruption and Trafficking Foundation (NACAT) has dragged the Acting Governor of the Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi and its deputy, Mr Edward Adamu before a Federal High Court Abuja for failure to declare their assets to the Code of Conduct Bureau (CCB). In a suit marked FHC/ABJ/CS/1182/2023, filed by the group’s legal counsel, Festus Keyamo Chambers, also mentioned the Chairman, Code of Conduct Bureau, as a respondent in the matter. The applicant premised the suit on the strength of Section 1(1) and (2) of the Freedom of Information (FOI) Act, 2011.  Specifically, the suit dated August 25, 2023 is requesting for the documents wherein Mr Shonubi deliberately refused to declare interest in the following companies: Intameks Ltd– RC13086; Kirby’s Place Resources Ltd – RC1215845; The Pekaboo Company Ltd – RC1395011; Ehlkuhile Investment Ltd– RC857442; Iscopeng Ltd – RC1431044; and Kilima Technologies Ltd – RC1218250. Similarly, the applicant is demanding the assets and declaration forms of Adamu, wherein he failed to declare his interest in the following Companies: Pinnacle Solutions Network Ltd – RC698688; Elad Global Resources Limited – RC933366 and Global World Frontier Services Nig. Ltd – RC772500. An affidavit in support of the originating motion exparte deposed to by Stanley Ugagbe, the operational Manager of NACAT stated the respondents had vehemently refused to avail them of the documents.  Ugagbe averred that the 2nd Respondent is listed as a Director in the following Companies: Intameks Ltd– RC13086; Kirby’s Place Resources Ltd – RC1215845; The Pekaboo Company Ltd – RC1395011; Ehlkuhile Investment Ltd – RC857442; Iscopeng Ltd – RC1431044; and Kilima Technologies Ltd – RC1218250. Also, the deponent claimed that the 3rd Respondent is listed as a Director in the following Companies: Pinnacle Solutions Network Ltd – RC698688; Elad Global Resources Limited – RC933366 and Global World Frontier Services Nig. Ltd – RC772500. As public officers, Ugagbe stated, the 2nd and 3rd Respondents have statutory obligations to declare in their Asset Declaration Forms, the interests they have in the above-named companies, while assuming their respective offices as a Acting Governor and Deputy Governor of the Central Bank of Nigeria, CBN. “That the Applicant has a right under the Freedom of Information Act, 2011, to access the Assets and Liabilities Declaration Forms of the 2nd and 3rd Respondents, in the records of the 1st Respondent, with respect to declaration of the 2nd and 3rd Respondents’ interests in the said companies. “That the Applicant has made demand under the Freedom of Information Act, 2011 to the Respondents, for the Respondents to produce the Assets and Liabilities Declaration Forms where the 2nd and 3rd Respondents declared their interests in the said Companies, but the Respondents failed, refused and neglected to produce the said documents. The Applicant submitted that it needed the intervention of the Court to compel the 1st and 2nd Respondents to grant the request of the Applicant, in accordance with Section 1 (3) of the Freedom of Information Act. The Applicants predicated their prayers on the ground that they had written letters dated 3rd July, 2023 and 14th August, 2023, requesting the Respondents to produce to it, the said documents but they refused. “The Respondents have failed, refused and neglected to produce the said documents requested from them, contrary to section 4 (a) of the Freedom of Information Act, 2011” the counsel stated.  As public officers, the counsel submitted that the 2nd and 3rd Respondents have statutory obligations to declare in their Asset Declaration Forms, the interests they have in the above stated companies, while assuming their respective offices as Acting Governor and Deputy Governor of the CBN. NACAT is a non-governmental organization, a pro-democracy civil society organization, whose objectives include contributing to the global war against corruption, financial crimes, terrorism and economic sabotage.

IPMAN opposes state governments’ bid for downstream regulatory control

Eteo oil Spill destroyed communities’ source of water – Rights group Health of Mother Health Foundation (HOMEF), has again decried the recent oil spills that ravaged Aleto and Eteo communities in Eleme Local Government of Rivers State, saying it has crippled farming and fishing activities in the area. HOMEF said the spills also destroyed the communities’ only source of potable water. HOMEF and members of Oilwatch Nigeria that paid a visits to the two scenes recently for an on-the-spot assessment to ascertain the level of response and possible cleanup of the affected environment said it met the environment still in a sorry situation as nothing is being done to salvage or clean the pollutions caused by the spills. A statement by HOMEF on Saturday by the Media and Communication Lead, Kome Odhomor, Executive Director, Nnimmo Bassey, expressed displeasure that the oil companies are neither decommissioning their aged infrastructure nor ensuring that their facilities are in good working condition. He regretted that rather than remediating the harm caused by their activities, more investments are being made by the oil companies to expand the areas of threat. Bassey further lamented that two months after the spill occurred, the companies have yet to respond and interface with the communities in any meaningful way. “It was heartbreaking to listen to the lamentation of the community women who now have no source of potable water and cannot process their cassava, a major staple due to the pollution of their stream. The insensitivity of the polluters and regulatory agencies is appalling. These atrocious incidents are also compounding the work of HYPREP. While the agency is working to clean some areas, these polluting incidents are threatening to erase their efforts.” During the site visits, coordinator, Peoples Advancement Centre (PAC), and member Oilwatch Nigeria Celestine Akpobari, called on NOSDRA and other relevant agencies of government to do the needful and send relief materials to the starving people immediately. “It is sad and very embarrassing that a spill of this magnitude at Eteo would happen in very close proximity to human habitation and the NPDC and the government of Nigeria carry on as if nothing has happened to the people. It is worse that the spill has affected the community's only source of drinking water. It is not enough to just sneak in at night to clamp the pipe, the right thing must be done.” While receiving the team of CSOs who visited his palace, His Royal Highness Emere Emmanuel T. Akobe the Paramount ruler of Eteo community expressed shock over the attitude of the NPDC saying, “Our beautiful stream is dead, My people don’t deserve this type of treatment and after we have brought the notice of the National Assembly, there is still no response from them, and my people continue to suffer the impact of the spill.” HOMEF reiterates that Aleto and Eteo communities and the entire Niger Delta must not be treated like disposable or sacrifice zones for profit-seeking endeavors. NOSDRA should be more proactive in meeting the challenging situations of oil spills in the region, while the polluting companies should urgently halt their polluting activities, clean up their spills, and pay compensation to affected individuals and communities. The CSOs also demanded that oil companies decommission all aged pipelines and facilities in the region in line with UNEP recommendations in the assessment of the Ogoni environment.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed strong disapproval towards the recent endeavours of various State governments to assume the role of regulators in the Southeast’s downstream petroleum operations. Mr. Chinedu Anyaso, the Chairman of IPMAN’s Enugu Depot, which oversees Anambra, Ebonyi, and Enugu States, conveyed these concerns during an interview in Awka on Sunday. Anyaso underscored that State governments lack the necessary standardized and approved equipment essential for accurately measuring dispensing machines. Moreover, he asserted that these governments do not possess the authority to oversee the intricate operations within the downstream petroleum sector. IPMAN has vehemently criticized the actions of state governments, which have involved entering marketers’ establishments under the pretense of price enforcement and dispensing machine monitoring. Anyaso highlighted that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) remains the sole constitutionally-empowered entity responsible for regulating downstream sector activities. He emphasized that if states intend to collaborate in this sphere, they should work in conjunction with NMDPRA. In his explanation, Anyaso reinforced that state governments lack the requisite authority to perform regulatory functions concerning downstream operators. Their lack of expertise is evident, and even the instruments they employ—termed “seraphim bottles”—have not been certified as properly calibrated for accurate measurements. “NMDPRA is the only body empowered by the Petroleum Industry Act (PIA), Sec 48 (1), to carry out all the regulatory activities in the sector. “IPMAN Enugu depot condemns the invasion of our filling stations; Anambra government did it and we protested but most recently, the Enugu State government is doing the same thing with deliberate effort to blackmail some of our members. “This is sheer overzealousness on the part of some aides of governors. We call on our governors to call these people to order, to avoid putting IPMAN on a collision course with state governments,” he warned. Anyaso said IPMAN was not absolving its members of sharp practices but insisted that state governments should collaborate with NMDPRA, established by the Federal Government to supervise the sector if the need arises. “IPMAN is not by any means saying that all our members are free from malpractice. We are not holding brief for them either; all we are saying is that things should be done properly by the appropriate authority. “NMDPRA has offices in almost all the states, so state governments should work with them. On our part, IPMAN has a taskforce as an internal mechanism to check infractions by our members,” he said.

Again, Emefiele’s arraignment stalled; ex-CBN gov settles for plea bargain

Court Grants Emefiele N300m Bail

Suspended governor of the Central Bank of Nigeria (CBN) Godwin Emefiele’s arraignment on alleged breach of procurement laws and contract inflation, was again stalled on Wednesday. Strong indications have also emerged that the detained former CBN Boss, has opted for a plea bargain policy to settle with the Federal Government, hence, the indefinite hold on the arraignment. NIGERIAN ANCHOR gathered that the arraignment on a 20-count charges slated for Wednesday August 23, was not listed in the cause list before Justice Hamza Muazu of the Federal Capital Territory High Court, sitting in Maitama, Abuja It was also gathered at the courtroom that the arraignment was shifted at the instance of the detained CBN Chief. Authoritative sources confided in our correspondent that Emefiele and his-co accused, Saadat Yaro have opted for a plea bargain policy to settle with the Federal Government. Speaking on the development and the defendant’s absence in court, counsel to the defendant, Kehinde Akinlolu, confirmed the shift in the arraignment.  Emefiele’s lawyer, Kehinde Akinlolu SAN confirmed the shift in the arraignment when contacted on phone, adding that a new date may likely be issued by the court’s Chief Judge, Justice Hussein Baba Yusuf. At the time of filing this report, operatives of the Department of State Service DSS who used to escort him to court were not seen, as well as his legal team. Meanwhile, the court has commenced proceedings on matters on the cause list. More details later…

Scandal rocks FCTA Park & Pay investment project

Scandal rocks FCTA Park & Pay investment project

*Original owners seek justice from Tinubu, Wike Trouble appears to be brewing in the Federal Capital Territory as an ongoing scandal involving the Park & Pay investment has sent shockwaves through Abuja, raising concerns about transparency and justice. Otumba Olusegun Olarewanju, CEO of Platinum Parking Management, and Iliyasu Abdu, MD/CEO of Integrated Parking Managers, who claim to be the pioneers behind the recently reintroduced Abuja Park and Pay project, are demanding fair treatment from President Bola Ahmed Tinubu and the newly appointed FCT Minister, Nyesom Wike. To attract investments from Nigerians in the Diaspora, especially in the Capital Territory, Olarewanju and Abdu assert that President Tinubu and Minister Wike should investigate the activities of top officials within the Federal Capital Territory. The duo allege that they were unjustly sidelined by the Adesola Olusade-led leadership of the FCT, despite having initiated the Abuja Park and Pay project. It’s reported that the former Minister of the FCT, Bello Mohammed, had upon leaving office, advised the Permanent Secretary to prioritize the pioneer companies’ right of refusal to ensure fairness and prevent the perpetuation of impunity. However, the Permanent Secretary and his colleagues allegedly disregarded this advice, moving swiftly to bring in their proxies and seized the concept developed by the original initiators. The situation is complicated further by an existing court judgment requiring the FCTA to pay damages for the abrupt disengagement of the two companies, causing significant financial losses. Olarewanju and Abdu detailed their journey, explaining that they returned to Nigeria as a response to then-President Olusegun Obasanjo’s call for Diaspora investments. They designed an “On-Street Parking Management” solution for Abuja, aiming to generate revenue and provide employment opportunities. “At the onset of democracy in 1999, the then President Olusegun Obasanjo invited people in Diaspora when we tried to romance with his government. He said we should come back home, bring all our ideas, and come and invest in the country. “This gingered us to come back home, and looking at the esthetics, the design, and the road network of Abuja, we came on board that we could do ‘On street Parking management’ on the streets of Abuja in other to generate revenue for the FCT and also to create massive employment for the teaming youths of Nigeria. “And we also had it in mind that one day the influx of vehicular movement in Abuja city will be uncontrollable. So, in other to have a plan in place was what necessitated us coming up with ‘On street parking’ project in the street of Abuja. “And we came with everything, we came with all our technical partners, we set it up, we did everything, and we tendered for the project. The FCT Minister later set up a technical committee to look into the proposal and here we are, we signed an agreement with them in 2010. “When we started, we put the entire infrastructure in place, synergies or what have you. We did all the line markings in all the roads of Abuja. I and my PPMS went back abroad and brought technical partners to set up all the infrastructure. We engaged thousands of Nigerians. “My company engaged over four hundred and fifty direct and indirect labour to start the project, same with my friend. We brought the state-of-the-art applications to manage the projects and start setting everything up, until one day we saw two companies that took over the street of Abuja saying the Minister said they should drive us away from the streets. “And then these people took over the streets, and then mayhem started; chaos, and pandemonium on the streets of Abuja. This was what led to Justice Peter Afe to place a suspension on the project because people sued us, they sued one of the illegal operators in court.  And when they suspended us they told FCT to go and get a proper traffic law to support the project,” Otumba Olarewanju explained. However, their vision was derailed by the actions of FCT officials, who allegedly favored their own interests over the original initiators’ rights. The two entrepreneurs stressed their demands: a return of their original zones for operation, compensation for incurred losses due to disengagement, and adherence to the arbitration judiciary award. “This is because as pioneers, and in the agreement we had with FCDA we have the right of first refusal. It’s in the agreement, and that agreement has been certified by a court of competent jurisdiction, so our agreement is valid and subsisting and anything contrary to that is against the law. And number two, the arbitrary award is a legal thing that nobody can wish away except the court of competent jurisdiction. Since they have gone to the High Court, the high court could not set it aside; the Court of Appeal court did not set it aside, and even the Supreme Court will not set it aside because arbitration has a time limit. If you cannot do anything within those ninety days that means it’s only God that can intervene,” he stated. Their plea hinges on their agreement’s legal validity, their certified rights of first refusal, and the binding nature of the arbitration award.

Stevedore Services: Transportation Ministry to shut down Chevron Warri Jetty

Stevedore Services: Transportation Ministry to shut down Chevron Warri Jetty

The Federal Ministry of Transportation has disclosed its intention to shut down the Chevron Warri Jetty within two weeks following overt disregard by Chevron Nigeria Limited to hinder stevedore services regardless of extant laws and standard procedures. The Permanent Secretary, Dr. Magdalene Ajani, who made this known at a meeting between Chevron Nigeria Limited, Bena-Franco, the Nigerian Ports Authority (NPA), and the National Inland Waterways (NIWA) at the Ministry in Abuja, stated that the Ministry of Transportation has the mandate to guide activities going on in the maritime sector and will act accordingly to protect that at all times. In this regard, Ajani informed representatives of Chevron that the Nigerian Ports Authority as the master stevedore has assigned a stevedore company in the last two years to the Warri jetty and has been denied access by Chevron despite all efforts by NPA. Chevron also has avoided all meetings by the Federal Ministry of Transportation & National Stevedore Association to resolve this matter. She advised that it will be in their best interest to grant Bena – Franco access to the jetty. “You have the next two (2) weeks to register this stevedore that has been assigned to you by the Federal Government of Nigeria to oversee what goes on at that jetty” Ajani emphasised. In addition, the inability of representatives of Chevron Nigeria Limited to substantiate the status of the operating license for the jetty, the Permanent Secretary mandated the task force on private jetties to avail her evidence of approval granted to the company immediately. Furthermore, she noted that failure to comply within the next two weeks will leave the Ministry with no option but to shut operations at the Warri jetty.

Nigeria’s equity market sheds N391bn

Naira Devaluation: Dangote, 8 others take N113.63bn hit

The nation’s equity market on Monday opened the week on a negative note, shedding N391 billion following profit taking activities recorded by small, medium and large stocks. The market capitalisation of listed equities fell by 1.10 per cent to N35.011 trillion from N35.402 trillion reported the previous day. The NGX All Share Index also depreciated by 718.87 basis points to 64337.52 points from 65056.37 points reported the previous day. An analysis of the investment showed that Betaglass Nigeria Plc, Linkage Assurance, SUNU Assurance and Mansard insurance led gainers table, appreciating by 10 per cent each to close at N38.50 per share, N0.77, N0.66 and N3.74 per share. Berger Paint followed with a gain of 9.95 per cent to close at N11.05 per unit. On the contrary, five companies declined by 10 per cent at the close of transactions on Monday. Dangote Sugar Refinery, Sovereign Trust Insurance, Ecobank Transnational Incorporate gained 10 per cent to close at N27.00, N0.63 per share, N15.30 per share respectively. Livestock and NPF MicroFinance Bank fell by 10 per cent also to close respectively to N1.89 and N1.80 per share. Volume of trades increased 213.65 million, representing 46.47 per cent as investors traded 673.42 million shares valued at N6.47 billion in 9788 deals against 459.770 million shares worth N5.345 billion exchanged hands in 8051 deals. Trading activities in shares of Abbey Building Society led activity with 112.259 million shares valued at N112.274 billion in 94 deals, Fidelity Bank followed with 58.588 million shares cost N503.707 million in 452 deals, Union Bank of Nigeria Plc traded 51.079 million shares worth N357.551 million in 30 deals, FCMB group exchanged 49.363 million shares cost N323.678 million in 294 deals while Universal insurance traded 47.506 million share cost N11.232 million.

Group reveals plot by Gov Bello to abduct, frame SDP candidate, Yakubu Ajaka

Suspected APC Thugs Attack SDP Campaign Leader In Kogi State

The Alhaji Muritala Yakubu Ajaka Campaign Organization has alleged a disturbing plot involving Kogi State Governor Yahaya Bello and certain security chiefs which is aimed at suppressing the Social Democratic Party (SDP) Governorship Candidate, Alhaji Muritala Yakubu Ajaka. In a press statement signed by the group’s Director, Communications, Faruk Adejoh-Audu and made available to the NIGERIAN ANCHOR, the group said there is a conspiracy to abduct Ajaka and transport him to Lokoja, where he would be falsely implicated in fabricated charges and potentially face detention or even assassination. The details of this sinister plan, according to them, is part of an orchestrated effort to arraign Alhaji Ajaka before a Lokoja Court hastily, ensuring his indefinite incarceration. Remarkably, the State Commissioner of Police, Hakeem Adeshina Yusuf, who had previously shown reluctance to investigate the campaign organization’s petition regarding an attempted assassination against Mr. Bello and his group of thugs and gunmen, is now reportedly tailing Ajaka at the behest of Governor Bello. “Details of the plan which began manifesting on Tuesday included hastily arraigning Alhaji Ajaka before a Lokoja Court to legally seal the plot to incarcerate him indefinitely. “In furtherance of the plot, the State Commissioner of Police Hakeem Adeshina Yusuf who had obstinately refused to investigate our petition of attempted assassination against Mr Bello and his band of thugs and gunmen who attacked our motorcade on June 3, 2023 is now stalking our candidate at the behest of Mr Bello to accuse him of been the aggressor in the attack. “Some gunmen in Mufti appeared at an address on Khartoum Street in Wuse, Abuja at about 12:30 pm Tuesday claiming they have been detailed by Mr. Yusuf to arrest Alhaji Ajaka for attempted assassination, gun possession, and terrorism as a result of the same attack carried ours by Mr. Bello and his gunmen. “Already Mr. Bello has put some of his friendly media editors and social media influencers on cue to disparage the SDP Candidate through stories and commentaries that will portray the candidate as a violent man,” the statement read in part. See the full Statement Below: FRESH PLOT BY KOGI GOVERNOR YAHAYA BELLO AND SECURITY CHIEFS TO SUPPRESS SDP CANDIDATE ALHAJI MURTALA YAKUBU AJAKA UNCOVERED The Alhaji Muritala Yakubu Ajaka Campaign Organization has uncovered a dastardly conspiracy between some security chiefs in Kogi State to abduct the Social Democratic Party (SDP) Governorship Candidate, Alhaji Muritala Yakubu Ajaka to Lokoja and frame him with trump-up charges with the aim of clamping him into detention and possibly assassinate him. Details of the plan which began manifesting on Tuesday included hastily arraigning Alhaji Ajaka before a Lokoja Court to legally seal the plot to incarcerate him indefinitely. In furtherance of the plot, the State Commissioner of Police Hakeem Adeshina Yusuf who had obstinately refused to investigate our petition of attempted assassination against Mr. Bello and his band of thugs and gunmen who attacked our motorcade on June 3, 2023, is now stalking our candidate at the behest of Mr. Bello to accuse him of being the aggressor in the attack. Some gunmen in Mufti appeared at an address on Khartoum Street in Wuse, Abuja at about 12:30pm Tuesday claiming they have been detailed by Mr. Yusuf to arrest Alhaji Ajaka for attempted assassination, gun possession, and terrorism as a result of the same attack carried ours by Mr Bello and his gunmen. Already Mr. Bello has put some of his friendly media editors and social media influencers on cue to disparage the SDP Candidate through stories and commentaries that will portray the candidate as a violent man. This elaborate plot is an obvious manifestation to stop the escalating popularity of the SDP Candidate in the November 11, Governorship Elections. Mr. Bello is a Governor whose administration has gained notoriety for violence, framing up opponents, and compromising the institutions of the polity to gain an advantage in the elections. Alhaji Ajaka has no record of violence whatsoever at any time in his political career, but in the last four months, the candidate and members of his campaign team have been at the receiving end of State violence from Federal security agents who have been obviously compromised to torment political rivals of Mr. Bello. We have cried out to all the relevant agencies of the state to rein in Mr. Bello and get him to play by the rules of engagement of electioneering to no avail. Where in the world is an interested party in an election allowed the pleasure to arrest opponents and clamp them into detention to prevent them from campaigning? This plot was hatched after a campaign outing by Alhaji Ajaka at Idah during which a mammoth crowd never before recorded in the history of rallies in Kogi State came to receive him. In the last Presidential and National Assembly Elections Governor Bello took several bizarre measures to intimidate the then-main opposition Peoples Democratic Party in the state by deploying earth-moving equipment to dig craters on several streets leading to polling units in the Central Senatorial District of Kogi State. The intimidation was so effective that the PDP had to cancel its campaign flag-off rally in the said Central Senatorial District. Two weeks ago, he procured security agents in the state to extra-judicially execute Mallam Kabir Bala aka Okwo, a thug he freed from prison and unleashed on defenseless citizens of the state at the dawn of the 2019 Elections. Okwo was among about 20 thugs he freed from custody across the state to use for violence and electoral mayhem in 2019. The moment Okwo was executed Mr Yusuf the police commissioner accused him of several heinous felonies. Yet Okwo was a revered member of the party who was even inaugurated by Mr. Bello as the Ofu LGA Coordinator of the Tinubu/Shettima Campaign Council. He was also one of the 67 delegates to the APC National Convention. At no time was he ever accused, invited, or arrested for any crime since 2019 until he openly renounced violence and

Mbappe can’t leave PSG for free, says Club President

Mbappe can’t leave PSG for free, says Club President

Paris St Germain forward Kylian Mbappe must sign a new contract if he wants to stay at the club as the French champions will not let him leave for free next year, Club president Nasser Al-Khelaifi has said. Mbappe sent a letter to PSG last month stating that he had no intention of extending his contract, which expires in 2024. But he later clarified that he had not asked the French club to allow him to move to Spanish giants Real Madrid, who have in the past tried and failed to land the World Cup-winning forward. PSG face the dilemma of allowing Mbappe to run down the final year of his contract and being unable to recoup any of the 180 million euros ($195.71 million) they spent in 2017 to sign him from AS Monaco. “My position is very clear. I don’t want to repeat it every time: if Kylian wants to stay, we want him to stay. “But he needs to sign a new contract,” Al-Khelaifi told reporters after unveiling Luis Enrique as the club’s new manager. “We don’t want to lose the best player in the world for free, we can’t do that. This is a French club. “He said he would never leave for free. If he changes his mind today, it’s not my fault. We don’t want to lose the best player in the world for free, that’s very clear.” Mbappe has finished as Ligue 1’s top scorer in the last five seasons and PSG will be eager to keep him having already lost Lionel Messi on a free transfer. Messi, a seven-time Ballon d’Or winner, opted not to renew his contract for a move to Inter Miami. Mbappe also said French President Emmanuel Macron had no influence on his career choices after the leader said he would push for the forward to stay in the country’s capital.