NewsExpress banner Firstbank Verve banner Fidelity bank card banner Umm Sulaim's Thoughts Camano banner

Israeli firm moves to sell Nigerian Government property in London over $5m debt

By News Express on 28/01/2017

Gmail icon

Views: 2,087

The choice Nigerian property located at 56-57 Fleet Street London.
The choice Nigerian property located at 56-57 Fleet Street London.

An Israeli military consultancy firm is intensifying efforts to sell one of Nigeria’s choice properties in London to recover a debt of $5 million and a further N4.71 million awarded as costs (excluding interest) arising from a dispute with the Federal Government of Nigeria. A report by Trumpet Media, however, said that the English Commercial Court has ruled against the forced sale of the property.

The 1927-built three-storey property situated at 56-57 Fleet Street previously housed a number of sections of the Nigeria High Commission London, including its Consular services. It is currently leased to Online Integrated Solutions Ltd (OIS) for the purpose of providing visa and passport services in exchange for an annual rent of £150,000.

Hitherto, the property was the London home of the Glasgow Herald Newspaper in the days when Fleet Street was the centre of Britain’s newspaper industry.

The property had been the subject of a suit filed by a company registered in Israel – L R Avionics Technologies Ltd – which had entered into a contract with the Federal Republic of Nigeria on 22 October 2002 to supply military equipment. The contract was governed by Nigerian law and was subject to arbitration in Nigeria in accordance with the Nigerian Arbitration and Conciliation Act 1998.

A subsequent dispute arose on 31 January 2012, and Mr Babajide Ogundipe, a Nigerian barrister, was appointed as Sole Arbitrator on the dispute by the Chief Judge of the Federal High Court of Nigeria. On 8 February 2013, the Arbitrator awarded $5 million to L R Avionics Technologies Ltd as damages for breach of the contract, together with costs of N4.71 million. The award did not carry interest.

An attempt to get this award set aside by way of an application filed at the Federal High Court Abuja on 17 March, 2013 was unsuccessful.

On 30 June, 2014 the Federal High Court granted leave to recognise and enforce the award in the same manner as a judgment and entered judgment ordering the Nigerian Government and the Attorney General, to pay the sums awarded together with interest at the prevailing bank rate from 11 March, 2013.

The Nigerian Government did not comply with the order of the Federal High Court, so L R Avionics Technologies sought to enforce the award in the United Kingdom. On 4 March, 2015, it made a “without notice” application to register the award under the Arbitration Act 1996 and also to register the Nigerian judgment under the Administration of Justice Act 1920. Justice Phillips made both orders on 14 April 2015 and also gave permission for service of the claim form, the witness statement in support of the application and the order itself on the defendants out of UK jurisdiction through diplomatic channels under Section 12 of the State Immunity Act. These were duly served on 24 June 2015, but the Nigerian Government did not acknowledge service.

•Adapted from a report by

Source News Express

Posted 28/01/2017 1:31:37 PM





You may also like...
Ronaldo smashes goal record as United exit Champions...

Oil majors, tanker owners defy presidential orders

Customs sacks 66 officers for drug-addiction

Minister woos international agencies, seeks increased patronage for...

AMAECHI’S war against unemployment in Rivers: His METHODS...

CSOs, NHRC, security forces and Buhari Administration conspire...

Reps accuse Amaechi of attempting to pad 2016...

Over-population still a major challenge to Nigeria, Africa...

Chadian forces in 'major' hunt for Boko Haram...

Man U snatch Premiership leadership; Arsenal crush Leicester...

Aare Ona Kakanfo: Final rites begin for Gani...

Umahi launches N1bn Ebonyi comprehensive health programme


Latest News IPOB chieftain Obi Ikechukwu fears for life, goes underground Gunmen kill final-year Varsity student British Government speaks on Sowore’s detention, tasks FG Boko Haram releases video of soldiers, policeman’s execution Oshiomhole, Obaseki fight over APC rally Man banished for impregnating daughter for second time Court summons Dokubo over alleged diversion of 75 amnesty slots, stipends Bandits kidnap 2 expatriates, 6 others in Shiroro Constituency projects: Reps probe unspent funds under President Buhari, Jonathan $42bn oil theft puts Nigeria at risk — NEITI Boss Obi condemns attack on Maersk boss, murder of wife •Wants perpetrators fished out and dealt with Don’t tamper with Delta State’s right to produce the NDDC MD — Niger Delta Peoples Assembly


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (570,898 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (456,208 views) Shameless Genevieve Nnaji exposes breasts in public (406,101 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (341,222 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (307,511 views) 10 cars more expensive than Jets (291,706 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (261,130 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (260,112 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (241,565 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (228,104 views) Lagos plane crash: Journalist releases victims’ names (203,816 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (200,243 views)


CBN milk production

CBN banner advert

UBA Wise Savers Promo


Categories Advertorials (3) African Press Organisation (81) Art & Literature (111) Business & Economy (4,619) Business Verdict (89) Columnists (1,156) Complaints & Requests (97) Enterprise & Opportunities (221) Entertainment (717) Features (855) Global Business Monitor (497) ICT Monitor (73) International (4,318) Interview (219) Live Commentary (30) Love Matters (178) Maggie's Blog (514) News (55,091) Opinion (1,437) Pidgin (18) Politics (11,870) Religion (1,133) Sports (2,252) Stock Watch (40) AMA & Al Jazeera Global Update







APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera