Nigeria floors UK tech firm to win $6.2m arbitration

Nigerian authorities has again secured triumph against an planetary exertion contractor, European Dynamics UK Ltd., successful a €6.2 cardinal arbitration.

This was disclosed successful a connection connected Sunday by Kamarudeen Ogundele, the spokesperson for the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi.

The steadfast had entered into a quality with Nigeria’s Bureau of Public Procurement implicit a nationalist e-procurement project.

However, according to the statement, “In the ruling, which is last and not taxable to appeal, the tribunal dismissed the contractor’s claims successful their entirety, relieving Nigeria of imaginable fiscal vulnerability estimated astatine implicit $6.2 cardinal (approximately N9.3 billion) successful claimed payments and damages.”

Nigeria’s ineligible squad was led by Johnson & Wilner LLP, a Nigerian concern and exertion instrumentality firm, with Basil Udotai, Esq., Founding Partner, starring the arbitration unneurotic with the firm’s strategical partners and associates.

Recall that successful October past twelvemonth the UK Supreme Court ordered Process and Industrial Developments (P&ID), an offshore company, to wage £44 cardinal successful ineligible costs to Nigeria.

In 2023, Nigeria had won an $11 cardinal PID lawsuit successful London, UK.

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