Nigeria: Malabu Oil Deal - Nigeria Sues JP Morgan for U.S.$875 Million

19 January 2018

Nigeria has filed a claim against JP Morgan Chase for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company controlled by the country's former oil minister, Reuters report yesterday.

The suit filed in British courts, according to Reuters, relates to a purchase of the offshore OPL 245 oilfield in Nigeria by oil majors Royal Dutch Shell and Eni in 2011.

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