Nigerian lawyer Rotimi Oguneso, known for his close connections with President Bola Tinubu, earned $170,000 in legal fees from an arbitration case that led to a substantial $70 million judgment against Nigeria.
Oguneso, a prominent senior lawyer, previously defended Tinubu at the presidential election petitions tribunal in 2023. In this arbitration, he was appointed as Nigeria’s representative on the panel, alongside Matthew Gearing from the UK and David Neuberger, former president of the UK Supreme Court, who chaired the three-person panel.
The arbitration arose from a dispute between Zhongshan Fucheng Industrial Investment Ltd. and the Ogun State government concerning a canceled free trade zone agreement. The panel, which included Oguneso, ruled in favor of Zhongshan.
Court documents reveal that Zhongshan was awarded $55,675,000 plus $9,400,000 in interest and £2,864,445 in costs on March 26, 2021. The total cost of the arbitration was £549,655, with Nigeria responsible for covering the majority of the expenses. Zhongshan paid £295,000, while Nigeria contributed £195,000 and was ordered to reimburse Zhongshan.
Oguneso received $170,000 for his role, while Gearing earned $155,000, and Neuberger, the chair, received $273,000. The panel’s unanimous decision held Nigeria liable, resulting in the $70 million award with an additional two percent monthly interest accruing since the 2021 ruling.
Despite Nigeria’s attempts to invoke sovereign immunity to evade payment, courts in France, Canada, and the UK have upheld the enforcement of the judgment. Zhongshan has already seized Nigerian assets in these countries as part of the enforcement process.
Nigerian officials have minimized the ruling’s significance, with former Ogun State Governor Ibikunle Amosun rejecting the judgment and stating, “there is no basis for negotiation.”
