Legal

Hedge Fund-Backed Firm Fights Nigeria for $11 Billion Payout

Nigeria sought to scrap arbitration award, alleging fraud
P&ID says Nigeria’s allegations are fictitious inventions

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Upmanyu Trivedi and William Clowes

January 24, 2023 at 10:30 AM UTC

Updated on

January 24, 2023 at 6:12 PM UTC

This article is for subscribers only.

Sign up to our Next Africa newsletter and follow Bloomberg Africa on Twitter

Nigeria cooked up fictitious allegations in a politically motivated campaign to dodge a massive $11 billion arbitration award, a hedge-fund backed firm claimed at a London trial over the legality of the disputed payout.