By Milcah Tanimu
Nigerian lawyer Rotimi Oguneso, who has strong connections with President Bola Tinubu, reportedly earned $170,000 in legal fees from his role in an arbitration case resulting in a $70 million judgment against Nigeria. Oguneso, a senior legal figure who defended Tinubu at the 2023 presidential election petitions tribunal, was appointed by Nigeria to the arbitration panel.
The panel, which included Matthew Gearing from the UK and was chaired by David Neuberger, former president of the UK Supreme Court, adjudicated a dispute between Zhongshan Fucheng Industrial Investment Ltd. and the Ogun State government over a canceled free trade zone agreement.
The panel’s decision, made on March 26, 2021, awarded Zhongshan $55,675,000, plus $9,400,000 in interest and £2,864,445 in costs. The total cost of the arbitration was £549,655, with Nigeria responsible for the majority of this, as the losing party. Zhongshan contributed £295,000, while Nigeria paid £195,000 and was ordered to refund Zhongshan.
Oguneso’s fee was $170,000, while Gearing received $155,000, and Neuberger, the chair, earned $273,000. The panel unanimously ruled against Nigeria, imposing a $70 million liability, which continues to accrue interest at a rate of two percent per month.
Despite Nigeria’s attempts to invoke sovereign immunity to avoid payment, courts in France, Canada, and the UK have permitted the enforcement of this judgment. Zhongshan has already seized Nigerian assets in these countries as part of the enforcement process.
Nigerian officials have dismissed the ruling as weak and unenforceable, with former Ogun State Governor Ibikunle Amosun notably rejecting the judgment and stating, “there is no basis for negotiation.”
