Purported Breach of Contract: Foreign Court rejects Nigeria’s request to Revoke N2.7 trillion fine

Purported Breach of Contract: Foreign Court rejects Nigeria’s request to Revoke N2.7 trillion fine

The District Circuit Court in Washington DC has dismissed Nigeria’s request for it to set aside its $8.9billion arbitration award against Nigeria over alleged breach of contract. The court presided over by Justice Christopher Cooper said the request was denied not only on ground that it was belated, but also that it sought the dismissal of the petition for the enforcement of the award. A government legal team led by the Attorney General and Minister of Justice, Abubakar Malami, left Nigeria on Wednesday morning to Washington DC to attempt to get the court to set aside the award against Nigeria.

Contempt: Court convicts First Bank chairman, MD over N122bn Ogoni judgment compensation

Contempt: Court convicts First Bank chairman, MD over N122bn Ogoni judgment compensation

Justice Ibrahim Buba of the Federal High Court, Lagos, yesterday convicted First Bank Plc, its chairperson, Ms Ibukun Awolaja, and the managing director, Dr. Adesola Adeduntan, over their refusal to honour the payment of N122 billion bond guaranteed by the bank. The conviction of the trio was as a result of the N122 billion judgement debt against Shell Petroleum Development Company (SPDC) in an oil spill suit filed by Ejama community in Ogoniland, Rivers State.

Court Declares Gomez Beneficiary of T A Doherty’s Estate

Court Declares Gomez Beneficiary of T A Doherty’s Estate

Justice C. A. Balogun of the Lagos High Court has declared Lagos-based nonagenarian lawyer, Pa Tunji Gomez, as a full beneficiary of the Estate of Chief T.A. Doherty. In a separate, but related matter, Justice Wasiu Animahun of the same court also entered judgment in Gomez’s favour in a N5.3million lawsuit.

Suspended SEC DG, Gwarzo Challenges Suspension in Court

Suspended SEC DG, Gwarzo Challenges Suspension in Court

The suspended Director-General of Nigerian Securities and Exchange Commission (SEC), Mounir Gwarzo, on Monday filed a suit before the National Industrial Court, Abuja, challenging his suspension by the Minister of Finance. Mr Gwarzo, who was suspended from office in November over alleged financial misappropriation, is seeking the court to determine some issues pertaining to the minister’s action.

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