Nigeria Gets Extension to Contest $10 Billion P&ID Award

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Nigeria’s government was granted more time by a London judge to challenge an arbitration award worth around $10 billion, more than a quarter of the country’s foreign reserves.

Judge Ross Cranston said in a judgment Friday granting extra time that Nigeria had established a “strong prima facie case of fraud.”

The ruling allows the West African nation to continue to seek to overturn the penalty on the grounds that…

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