Industrial Developments Ltd News Today

In this article series, we look at key arbitration related decisions from the past year and draw out the key lessons for users of arbitration. Arbitral awards are rarely...

The fate of a major housing development planned in North Canterbury will not be known for several months as legal discussions drag on.

Alleged P&ID Fraud: EFCC Withdraws Charge Against Ex-lagos Ag, Shasore

The Economic Financial Crimes Commission (EFCC), on Thursday, withdrew the money laundering charge preferred against Mr Olasupo Shasore, SAN, following a directive by the Attorney-General of the Federation (AGF) and Minster of Justice, Mr Lateef Fagbemi, SAN. | Pulse Nigeria

EFCC’s Counsel, Bala Sanga stated this on Thursday.

The office of the Attorney-General of the Federation has requested a review of the alleged $200m bribe case against a former Attorney-General of Lagos State, Olasupo Shasore.

The Economic and Financial Crimes Commission (EFCC) on Friday said the office of Attorney-General of the Federation had requested the review of the case against former Lagos Attorney-General, Olasupo Shasore, charged with 200 million dollars bribe. The News Agency of Nigeria (NAN) reports that the EFCC counsel, Mr Bala Sanga (SAN), informed an Ikeja Special

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.

Abuja has now avoided paying a sum so vast that it is material to Nigerias entire federal budget.

We review the key events of 2022 in Nigeria’s energy sector – a year that saw significant steps in the implementation of PIA, intermittent M&A activity and the continuing effects of...