Nigeria loses sovereign immunity claim as US court upholds $70m award to Chinese firm
Nigeria’s claim to sovereign immunity cannot stand in a commercial venture, a US appeal court has ruled. The court rejected Nigeria’s sovereign immunity defence to the enforcement of a $70 million investment treaty award won by Zhongshan Fucheng Industrial Investment Co. Ltd., a Chinese investor, in a free trade zone. Nigeria had “gruesomely” violated both fundamental and commercial rights of …