Tinubu’s Lawyer Pocketed $170,000 For Role In $70 Million Arbitration Against Nigeria

Tinubu’s Lawyer Pocketed $170,000 For Role In $70 Million Arbitration Against Nigeria....KINDLY READ THE FULL STORY HERE▶

Nigerian lawyer Rotimi Oguneso, known for his close connections to President Bola Tinubu, reportedly earned $170,000 in legal fees while serving as an arbitrator in a case that led to a $70 million ruling against Nigeria. Oguneso, a senior lawyer who defended Tinubu in the 2023 presidential election petitions tribunal, was appointed by Nigeria as its representative on the arbitration panel.

The dispute involved Zhongshan Fucheng Industrial Investment Ltd. and the Ogun State government over a canceled free trade zone agreement. The arbitration panel, which included Oguneso, Matthew Gearing from the UK, and was chaired by David Neuberger, former president of the UK Supreme Court, ultimately ruled in favor of Zhongshan.

As per court documents, Zhongshan was awarded $55,675,000 in addition to $9,400,000 in interest and costs amounting to £2,864,445. Nigeria, as the losing party, was ordered to cover all arbitration expenses, totaling £549,655. Zhongshan initially paid £295,000, while Nigeria paid £195,000, with Nigeria being required to reimburse Zhongshan.

Oguneso received $170,000 for his role on the panel, while Gearing was paid $155,000, and Neuberger, the chair, earned $273,000. The panel issued a unanimous judgment, holding Nigeria liable in the case brought by the Chinese firm, resulting in a $70 million award against Nigeria with an additional two percent monthly interest accruing since the 2021 judgment.