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US Court Dismisses $190million Default Judgement Against CBN

The District Court in Maryland, U.S.A has set aside a $190 million default judgment entered against the Central Bank of Nigeria and dismissed the case against the bank.

In the suit instituted by Aeons Centro Administracao de Empresa Limited versus the Central Bank of Nigeria, the plaintiff, a Portuguese corporation, had obtained a judgment against the government based on several documents purporting to show that it had performed oil related services for the Nigerian National Petroleum Corporation (NNPC) for which it was not paid.

The suit claimed that it was registered as a foreign contractor with the Nigerian National Petroleum Corporation and tendered a document to that effect.

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