Nigerian Businessman Wins U.S. Court Approval To Seize $21 Million From Nigeria’s JP Morgan Account
A U.S. District Court in the Southern District of New York has granted Louis Emovbira Williams, a Nigerian businessman, the right to seize $21 million from Nigeria’s account with JP Morgan. This ruling follows a long-standing dispute stemming from a failed business deal dating back to 1986.
Justice Liman Lewis denied Nigeria’s attempt to dismiss Mr. Williams’ lawsuit. Williams claims that the Nigerian government defrauded him of millions in a food importation deal, which also led to his wrongful imprisonment for three years. Despite receiving a presidential pardon and an agreement to repay the lost funds with interest in 1993, the businessman has yet to receive the promised compensation.
In 2018, a UK court ordered Nigeria to pay Mr. Williams the money owed him plus interest from funds held in JP Morgan. However, the Nigerian Central Bank (CBN) argued that it was protected by sovereign immunity and resisted the payment. The U.S. court dismissed this defence, stating that Nigeria had already waived its immunity in a 1993 guarantee agreement.
The Nigerian government, unwilling to comply, has appealed the ruling to the U.S. Second Circuit Court. This case adds to the growing number of international legal battles tarnishing Nigeria’s reputation, as courts in the UK, France, and Canada have issued similar rulings regarding the seizure of Nigerian assets abroad.
Mr. Williams has pledged to use the recovered funds to support children’s health and education in Nigeria.
