[vc_row][vc_column][vc_column_text]The Commercial Court of the Queens Bench Division in London has granted reliefs sought by the Federal Government of Nigeria for leave for extension of time to challenge the Arbitration Award by a London Tribunal. The Tribunal’s award is in excess of USD 9b.
The basis of the decision is new found evidence submitted by Nigeria that the contract and Arbitration process is tainted with fraud.
Sir Ross Cranston sitting as a Judge of the High Court on 4th September, 2020 found in favour of Nigeria and held amongst other findings that Chief Bolaji Ayorinde SAN of BA LAW who represented Nigeria at a later stage of the Arbitration would have no reason to suppose any prior misgivings in the matter and his conduct of the arbitration was explicable.[/vc_column_text][/vc_column][/vc_row]