In the term of statement, Seun stated unequivocally that his statements made and published on his Instagram Handle @bigbirdkuti on October 31, 2023, against Chief Ayorinde were not true and unfounded and stand retracted.
The British national, Mr James Nolan, who jumped bail in the alleged 9.6 billion dollars Process and Industrial Development (P&ID) Ltd scandal, on Monday, opened his defence in absentia without calling any witness. Nolan’s counsel, Mr Michael Ajara, told Justice Donatus Okorowo of a Federal High Court (FHC), Abuja that he did not intend to […]
On Monday, October 23, 2023, in a stunning victory for Nigeria, the High Court in London set aside the arbitration award obtained in January 2017 by P&ID, a British Virgin Islands registered company, against Nigeria.
As Africa’s largest economy, Nigeria should be a hub for international commercial arbitration or litigation. Well, it’s not because its judiciary is regarded as corrupt and dysfunctional. In one report, the US Trade Representative, USTR, says: “The sanctity of contracts is often violated and Nigeria’s court system for settling commercial disputes is weak and sometimes biased.” No foreign investor will ever agree to settle disputes in Nigeria if they invest at all.