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British court gives Nigeria more time to fight $10bn payment to Irish company


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Industry: A worker at an under-construction oil refinery and fertiliser plant near Lagos in Nigeria – the region has some of the largest oil and gas reserves in the world. PHOTOGRAPHER: TOM SAATER/BLOOMBERG

Industry: A worker at an under-construction oil refinery and fertiliser plant near Lagos in Nigeria – the region has some of the largest oil and gas reserves in the world. PHOTOGRAPHER: TOM SAATER/BLOOMBERG

Industry: A worker at an under-construction oil refinery and fertiliser plant near Lagos in Nigeria – the region has some of the largest oil and gas reserves in the world. PHOTOGRAPHER: TOM SAATER/BLOOMBERG

Nigeria's government was granted more time by a London judge to challenge an arbitration award worth around $10bn (€8.4bn), more than a quarter of the country's foreign reserves.

Judge Ross Cranston said in yesterday's judgment granting extra time that Nigeria had established a "strong prima facie case of fraud".


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