US Arbitration Tribunal Frees Nigeria of $1.5bn Liability Awards $660,000 arbitration cost in country’s favour Alex Enumah in Abuja Nigeria has again won another international legal battle as the United Statesbased International Centre for Settlement of Investment
Dispute ordered Inter Ocean Oil Company to pay the federal government $660,129.87 as reimbursement of its share of the arbitration costs incurred in the proceedings. The latest victory is coming
barely a week after Nigeria recorded another victory in its ongoing legal tussle with the Process & Industrial Development (P&ID) Limited as a London Commercial Court ordered the release of the $200
million guarantee for the stay of execution granted the country pending the appeal filed against the judgment of Justice Christopher Butcher for the execution of the Arbitral award of $10 billion to the
company. The tribunal, headed by Professor William Park, also freed Nigeria of $1.5 billion liability, maintaining that Nigeria did not breach any of its obligations in the contract
agreement with Interocean Development Company and Interocean Oil Exploration Company. In a statement issued Continued on page 9
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Ondo Election will Be Free, Fair, Credible, Buhari Assures Nigerians President, APC govs rally support for Akeredolu Ondo gov jittery of Jegede’s popularity, says Secondus IG warns politicians against violence Chuks Okocha, Adedayo Akinwale in Abuja and James Sowole in Akure President Muhammadu Buhari yesterday gave assurances that next Saturday's governorship election in Ondo State would be free, fair and credible. Buhari spoke virtually yesterday at the grand finale of
the All Progressives Congress (APC) governorship election campaign held at the Akure Township Stadium in Ondo State. He promised that security agents shall perform their duties creditably to forestall the breakdown of law and order Continued on page 8
Citing Security Concern, FEC Approves Spectrum Monitoring in South-east Okays $3bn for PH-Maiduguri rail rehabilitation, reconstruction Adedayo Akinwale in Abuja Citing the need not to compromise national security, the Federal Executive Council (FEC) has approved the sum of N653,886,584 to procure and deploy hybrid spectrum monitoring system to track down illegal frequencies in the South-east.
FEC has also approved the award of contracts for the rehabilitation and reconstruction of the Port Harcourt - Maiduguri eastern narrow gauge railway at the cost of $3,020,279,549, and additional N4.78 billion for Abeokuta-Ibadan road. Continued on page 8
COVID-19 COMPLIANT... Minister of Information and Culture, Alhaji Lai Mohammed (left), and Minister of Federal Capital Territory, Malam Mohammed Bello, during the Federal Executive Council meeting in Abuja…yesterday
El-Rufai Names Bamalli Emir of Zazzau...Page 5