Continental Focus, International Reach

Nigeria Can Proceed with JPMorgan Chase Case

Monday, February 25, 2019

Nigeria’s petition to be allowed to proceed in the trail against JPMorgan Chase was given the greenlight by a London High Court. The bank is alleged to have enabled the misappropriation of state funds totaling $875 million over OPL 245.

In a statement to the press Salihu Isah, special adviser on Media and Publicity to the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, said that JPMorgan Chase had failed in its bid to halt the prosecution. A High Court in London, headed by Justice Andrew Burrows, has granted Nigeria’s plea to allow it proceed with the trial of JPMorgan Chase.

A 26-page verdict stated that Nigeria had “reasonable grounds” for bringing a claim to the commercial division of the High Court, meaning it could now proceed to trial.