Court Okays Chinese Investors Request To Seize $25 Million From Nigeria

Court Okays Chinese Investors Request To Seize $25 Million From Nigeria …C0NTINUE READING HERE >>>

A court in the British Virgin Islands has authorized Chinese investors, Zhongshan, to seize £20 million ($25 million) from Nigeria’s foreign-denominated assets due to a failed Ogun trade zone agreement dating back to the early 2000s, during the tenure of then-Governor Ibikunle Amosun.

On November 8, Justice Paul Webster of the British Virgin Islands High Court ruled that Nigeria could not claim immunity from the enforcement of an arbitral award in favor of Zhongshan.

The decision…

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