RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

US Court Did Not Order Seizure of Nigeria’s $21 Million – AGF

Victoria Attah by Victoria Attah
September 26, 2024
in Business, Wealth
Reading Time: 1 min read
A A
0
NGX Fines Banks N76.8 Million for Late Financial Reporting
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has refuted claims that a U.S. District Court authorized the seizure of $21 million from Nigeria’s account with JP Morgan. The Ministry of Justice issued a statement on Wednesday, dismissing reports from certain media outlets, which it described as inaccurate.

Fagbemi clarified that the false information, initially published by an online platform, was baseless and challenged the media outlets to present any evidence of a U.S. court order authorizing such a seizure. “None of the media outlets sought the reaction of the Nigerian government, and we challenge them to publish any court order that supports their claim,” the statement read.

AlsoRead

Nigeria and UAE Sign Landmark Trade Deal to Eliminate Tariffs on Thousands of Products

Nigeria Customs Service Surpasses N7.2 Trillion Revenue Target in 2025

Dangote Refinery Suspends Petrol Sales and Cancels Contracts as Crude Supply Issues Bite

The Ministry emphasized that the court had not authorized any seizure of Nigerian government funds. Instead, the U.S. court had merely refused Nigeria’s preliminary motion to dismiss a complaint based on sovereign immunity.

The case in question involves British-Nigerian businessman Williams Emovbira, who alleges that he was defrauded and mistreated by Nigerian domestic intelligence in the 1980s. Emovbira has been seeking damages in the form of $21 million from Nigeria’s account with JP Morgan.

In response, the Nigerian government has launched legal defenses in both the UK and U.S. courts. Fagbemi expressed confidence that these actions would protect Nigeria’s interests, stating, “Nigeria remains confident that Williams’ attempts to strong-arm the government will fail.”

The case is expected to proceed to a full hearing, during which both parties will present their evidence before a final decision is made. Meanwhile, Nigeria has filed an appeal against the court’s interlocutory ruling.

This clarification follows a similar case from August 2023, where misleading reports claimed a UK court had authorized the seizure of $21 million from Nigeria’s Central Bank account.

Tags: #Nigeria$21 millionJP MorganUS Court
Previous Post

CBN Approves Additional $20,000 for Each BDC at N1,590/$1, Limits Profit Margins

Next Post

NGX Reports N3.48 Trillion in Transactions for the First Eight Months of 2024

Related News

2024 Budget Outline: Oil Price Set at $77.96, Naira Stands at 750 Against the Dollar

Nigeria and UAE Sign Landmark Trade Deal to Eliminate Tariffs on Thousands of Products

by Stephen Akudike
January 27, 2026
0

Nigeria and the United Arab Emirates have signed a Comprehensive Economic Partnership Agreement (CEPA) that removes tariffs on thousands of...

Nigeria Customs Service Modernisation Project Aims to Generate $200bn in Revenue

Nigeria Customs Service Surpasses N7.2 Trillion Revenue Target in 2025

by Victoria Attah
January 27, 2026
0

The Nigeria Customs Service (NCS) has posted a record-breaking revenue performance for 2025, collecting N7.2 trillion exceeding its initial target...

Dangote Refinery Obtains License to Process 300,000 Barrels of Crude Daily

Dangote Refinery Suspends Petrol Sales and Cancels Contracts as Crude Supply Issues Bite

by Stephen Akudike
January 27, 2026
0

Africa’s largest oil refinery, the Dangote Petroleum Refinery in Lekki, has temporarily halted sales of Premium Motor Spirit (PMS, commonly...

Naira Depreciation Forces Imports Down By 65% in Q3, 2023

US Exports to Nigeria Surge 60% in First 10 Months of 2025

by Victoria Attah
January 26, 2026
0

The United States recorded a significant $1.45 billion goods trade surplus with Nigeria during the first ten months of 2025,...

Next Post
Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

NGX Reports N3.48 Trillion in Transactions for the First Eight Months of 2024

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

2024 Budget Outline: Oil Price Set at $77.96, Naira Stands at 750 Against the Dollar

Nigeria and UAE Sign Landmark Trade Deal to Eliminate Tariffs on Thousands of Products

January 27, 2026
 Top Story: Central Bank Raises MPR by 200 Basis Points to 24.75%

National Grid Collapses Again, Plunging Nigeria into Nationwide Blackout

January 27, 2026

Popular Story

  • 2024 Budget Outline: Oil Price Set at $77.96, Naira Stands at 750 Against the Dollar

    Nigeria and UAE Sign Landmark Trade Deal to Eliminate Tariffs on Thousands of Products

    0 shares
    Share 0 Tweet 0
  • Dangote Refinery Suspends Petrol Sales and Cancels Contracts as Crude Supply Issues Bite

    0 shares
    Share 0 Tweet 0
  • US Records $1.45 Billion Trade Surplus with Nigeria in First 10 Months of 2025 as Exports Surge 60%

    0 shares
    Share 0 Tweet 0
  • Nigeria Customs Service Surpasses N7.2 Trillion Revenue Target in 2025

    0 shares
    Share 0 Tweet 0
  • National Grid Collapses Again, Plunging Nigeria into Nationwide Blackout

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>