UK Court Blocks Nigeria From Appealing Ruling On OPL 245 Deal

The UK high court of justice has blocked the Federal Government from appealing last month's ruling dismissing a $1.7 billion claim against JP Morgan Chase Bank over the transfer of proceeds from the sale of OPL 245 in 2011. <br />The high court says there was no real prospect of overturning the ruling. <br />Judge Sara Cockerill ruled that the Nigerian government could not prove that it was defrauded, saying it might be that with the benefit of hindsight. <br />The US Department of Justice previously investigated the OPL 245 deal and announced in October 2019 that it was closing the case.