JUDGEMENT DEBT: COURT GRANT U.K BASED NIGERIAN BUSINESSMAN'S REQUEST TO WITHDRAW £20,000 FROM NIGERIA'S SAVINGS ACCOUNT WITH J.P MORGAN
Barring any last minute intervention, Nigeria is set to lose up to $21 million foreign assets with international financial giant, JP Morgan. This is following the filing of a notice for the withdrawal of the said sum in a United Kingdom (UK) judgment debt from Nigeria’s account with JP Morgan. The withdrawal notice was sequel to a rejection of Nigeria’s appeal against the judgment of a British Court, permitting the seizure of the assets from Nigeria’s account with JP Morgan, to offset the judgment entered against Nigeria about five years ago. Meanwhile, the law firm of Brown Gavalas & Fromm LLP and other lawyers hired by the government of President Bola Tinubu are currently challenging the withdrawal on procedural grounds. It was learnt that all parties have concluded their filings ahead of a decision to be made any time from now by the court. Recall that a British-Nigerian citizen, Emovbira Williams had dragged the federal government before a UK Court, over alleged fraud and abuse