The Minister of Justice, Abubakar Malami, on Wednesday, welcomed the judgment of a U.S.-based tribunal, which ordered InterOcean Oil Company to pay the federal government 660,129 dollars as reimbursement of its share of the arbitration costs. The News Agency of Nigeria (NAN) reports that the U.S.-Based International Centre for Settlement of Investment Dispute headed by William Park ordered InterOcean to pay the Federal Government $660,129. The tribunal also absolved the Federal Government of Nigeria from any liability maintaining that Nigeria did not breach any of its obligations in the…
Read MoreUS Tribunal Orders Oil Firm To Pay Nigeria $660,000
