Tag Archives: Lawsuit

A Nigerian financial class action suit

A Lagos High Court has given nod to 80 aggrieved investors, bonded in a class action suit, to seek legal remedies against a Lagos asset management company, BGL Ltd., for an alleged N30 billion financial fraud in a private placement offer. In the nation’s first class action lawsuit in the margin loan crisis, Justice Charles… Read More »

Absentee President Update: Court orders cabinet to decide on Nigerian president’s fitness

The courts have given the Nigerian cabinet 14 days to determine whether the president is fit to lead the country. You might recall that the president has been away from the country on treatment for close to two months. From Reuters: Judge Dan Abutu ordered the cabinet to pass a resolution on Yar’Adua’s fitness within… Read More »