Senator Shehu Sani has voiced worries about the increasing practice of foreign multinational corporations suing Nigeria in European courts by taking advantage of legal loopholes.CONTINUE FULL READING>>>>>
In a statement on his verified Twitter account, Shehu Sani emphasized the need for Nigerian legal teams and government officials to exercise greater caution when drafting contracts and Memorandums of Understanding (MOUs) with foreign firms. He highlighted how multinational corporations often capitalize on weak contract provisions to take legal action against Nigeria in European courts, thus undermining the country’s sovereignty and financial stability.
“Foreign multinational companies have perfected the art of coming to our country to sign business deals, and when there are issues, they sue us in European courts. Our lawyers drafting contracts papers or MOUs should take note of this,” Shehu Sani tweeted.
His comments come in the wake of a legal battle involving the Ogun State Government and Zhongshan, which has been embroiled in a dispute over a 2007 contract to manage a free-trade zone.
The Chinese company allegedly misled a Paris court into issuing orders to seize Nigerian assets, including presidential jets, a move that has drawn widespread condemnation from the Nigerian government.CONTINUE FULL READING>>>>>
