AGF Celebrates Victory in N4bn, €185m Arbitration Against Fougerol SA

The Attorney General of the Federation, represented by Lateef Fagbemi, announced the victory in a long-standing arbitration case against Fougerol SA, a French company. The dispute stemmed from a joint venture contract with the Federal Republic of Nigeria to construct an iron and steel complex in Ajaokuta, Kwara, and Kogi states.

Fougerol sought additional payments totaling over N3.8 billion and €185 million, but the tribunal rejected their claims, citing lack of merit and waiver of rights. The Federal Government's preliminary objections were upheld, leading to the dismissal of Fougerol's claims.