Nigerian lawyer, Rotimi Oguneso, who has close ties to President Bola Tinubu, reportedly earned $170,000 in legal fees as part of his role in an arbitration case that resulted in a $70 million judgment against Nigeria.
Oguneso, a senior lawyer, defended Bola Tinubu at the presidential election petitions tribunal in 2023.
He was nominated by Nigeria as its representative on the arbitration panel. Zhongshan nominated Matthew Gearing, a United Kingdom legal practitioner, as its representative on the panel. David Neuberger, former president of the UK Supreme Court, chaired the three-man panel.
The arbitration stemmed from a dispute involving Zhongshan Fucheng Industrial Investment Ltd. and the Ogun State government over a rescinded free trade zone deal.
The arbitration panel, on which Mr. Oguneso served, ultimately ruled in favor of Zhongshan.
According to Gazette, Zhongshang was awarded $55,675,000 plus interest of $9,400,000 and costs of £2,864,445 as of the date of the arbitration verdict on March 26, 2021, court documents revealed.
The cost of the arbitration panel was £549,655. Nigeria was ordered to bear all the costs as the losing party. Zhongshan paid £295,000, while Nigeria paid £195,000. Nigeria was ordered to refund Zhongshan.
Oguneso earned $170,000 while Gearing who was also on the panel was paid $155,000, and Neuberger, the panel chair, took the lion’s pay of $273,000.
Having examined the allegations alongside co-arbitrators, Oguneso joined his colleagues on the panel to issue a unanimous judgement that found Nigeria liable in the case brought by the Chinese.
Consequently, the panel awarded $70 million against Nigeria with two per cent monthly interest that has been accruing since the 2021 judgement.
Despite Nigeria’s efforts to invoke sovereign immunity to avoid paying, courts in several countries, including France, Canada, and the UK, have allowed the enforcement of the judgment against Nigeria.
The $70 million judgment includes ongoing interest that has been accruing since the 2021 ruling, and Zhongshan has already seized Nigerian assets in France, Canada, and the UK as part of the enforcement process.
Despite this, Nigerian officials have downplayed the ruling, suggesting it is weak and unenforceable.
Former Ogun State Governor Ibikunle Amosun has been particularly vocal in rejecting the judgment, saying, “there is no basis for negotiation.”
The post Zhongshan: ‘Tinubu’s Lawyer Earned $170,000 As Arbitrator In $70 Million Case Against Nigeria’ appeared first on Naija News.