Zhongshan: Tinubu’s Lawyer Earns $170,000 from Arbitration Ruling Against Nigeria

Rotimi Oguneso, a Nigerian lawyer closely associated with President Bola Tinubu, has received $170,000 in legal fees for his role as part of a three-member arbitration panel that ruled against Nigeria in a high-stakes case. The arbitration, which centered on a free trade zone dispute between Ogun State and Zhongshan Fucheng Industrial Investment Ltd., resulted in a $70 million award against Nigeria.

Mr. Oguneso, who previously represented Mr. Tinubu during the 2023 presidential election petitions tribunal, was chosen by Nigeria as its representative on the arbitration panel. The Chinese firm Zhongshan selected Matthew Gearing, a legal practitioner from the United Kingdom, as its representative. The panel was chaired by David Neuberger, a former president of the UK Supreme Court.

The arbitration process, which lasted about a year, concluded on March 26, 2021. Court documents reveal that Zhongshan was awarded $55,675,000, along with an additional $9,400,000 in interest and £2,864,445 in legal costs. The dispute arose from the revocation of Zhongshan’s rights to a free trade zone by Ogun State in 2016, a move the company claimed violated a 2001 trade agreement between Nigeria and China.

The arbitration panel’s total cost was £549,655, with Nigeria, as the losing party, ordered to bear the full amount. Nigeria initially contributed £195,000, while Zhongshan paid £295,000, which Nigeria was later ordered to refund.

In addition to Mr. Oguneso’s $170,000 fee, Mr. Gearing received $155,000, and Mr. Neuberger, as chair, earned $273,000. Despite representing Nigeria, Mr. Oguneso concurred with the other panel members in delivering a unanimous verdict that found Nigeria liable.

The panel’s ruling imposed a $70 million penalty on Nigeria, along with a two percent monthly interest that has been accruing since the 2021 judgment. The decision casts doubt on Nigeria’s defense, which officials have downplayed, with former Ogun State Governor Ibikunle Amosun dismissing the arbitration award as “weak and unenforceable.”

Legal attempts by Nigeria to invoke sovereign immunity in France, Canada, England, and the United States have been unsuccessful, with courts in these countries upholding the enforceability of the arbitration award. As a result, Zhongshan has already seized Nigerian assets, including guest houses in the UK and private jets in France and Canada. While Nigeria denies any wrongdoing, it continues to negotiate a resolution with the Chinese firm.