The agreement includes the “mutually satisfactory settlement” of all claims related to OPL 245 and the termination of an international arbitration procedure, the Italian energy major said.
Laolu Akande, former presidential aide, has shed light on the complexities and consequences of Nigeria’s bilateral investment treaty with China, which has led to significant legal challenges for the country.
La société chinoise Zhongshan Fucheng Industrial Investment Co aurait tenté de saisir plusieurs actifs de l’État fédéral à l’étranger dont des avions présidentiels qui étaient en maintenance en France.
Three Nigerian presidential aircraft have been seized in France and Switzerland due to a long-standing legal dispute between Zhongshan, a Chinese company, and Ogun State Government over managing an export processing zone.
Two Nigerian properties located in the United Kingdom are on the verge of being taken over by a Chinese investor following an order granting the investor the right to enforce a $70 million investment treaty award against Nigeria.