Region: Nigeria
Nigeria improperly used discovery for set aside bid, US court says
A US court has reversed its decision to compel discovery from a London-based hedge fund, finding Nigeria had misled the court by using evidence obtained in similar proceedings for a bid to set aside a US$10 billion award.
11 November 2020
Eni brings ICSID case over Nigeria corruption claims
Italian energy company Eni has launched an ICSID arbitration against Nigeria in response to the state’s allegations that its US$1 billion purchase of an oil prospecting licence was the product of corruption.
08 October 2020
Nigeria overturns security order in mega-award challenge
The Commercial Court in London has ordered the release of US$200 million that Nigeria paid in security as it challenges a US$10 billion award over a failed gas deal, after recently finding the state has a strong prima facie case that the arbitration and the contract were tainted by corruption.
29 September 2020
Nigeria can plead fraud case against mega-award
The Commercial Court in London has ruled that Nigeria can pursue a late challenge to a US$10 billion award over a failed gas project, ruling there is a “strong prima facie case” that it was tainted by corruption, perjury and dishonest conduct.
04 September 2020
Nigerian oil block dispute to settle
The Nigerian National Petroleum Corporation (NNPC) has agreed preliminary settlement terms for a long-running tax dispute with two investors in an offshore oil and gas block that gave rise to a pair of under-the-radar arbitrations.
20 August 2020
Nigeria to raise sovereign immunity as it resists mega-award
A US district court must first hear Nigeria’s sovereign immunity defence before ruling on an oil and gas company’s bid to enforce an almost US$10 billion award against the state, following a decision by an appeals court in Washington, DC.
22 June 2020
Nigerian ports authority settles ICC dispute
The operator of a Nigerian port terminal says it has settled a dispute with the country’s ports authority that gave rise to an ICC arbitration potentially worth “hundreds of millions of dollars”.
05 June 2020
International Centre for Arbitration & Mediation Abuja (ICAMA)
27 January 2020
Mega-award leads to blowback in Nigeria
A British Virgin Islands company that won a US$9.6 billion award against Nigeria over a failed gas-refining deal has been ordered to forfeit its local assets after two former employees pleaded guilty to fraud and tax evasion charges, in what the award creditor has called a “sham trial”.
23 September 2019