Malabu Scandal: Nigeria drags US banking giant, JP Morgan to London courts, demands $875 million

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Malabu Scandal: Nigeria drags US banking giant, JP Morgan to London courts, demands $875 million
December 15, 2017

U.S. banking giant, JP Morgan, is being sued by the Federal Republic of Nigeria for $875million (N315 billion) in the London courts over its alleged failure to block payments made from a massive oil deal that is subject to a string of international corruption investigations

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Nigeria's TNP Bonny Light pipeline shut down-industry source

Nigeria's Trans Niger Pipeline, one of two major pipelines that carries Bonny Light crude for export, was shut down on Monday, an industry source familiar with the matter said.

Neither the cause of the shutdown nor any impact on production was known.

Oil major Shell, which operates the Bonny Light export terminal through its local affiliate SPDC, could not immediately be reached for comment.