Supreme Court of the UK grants a reprieve to NNPC in a case involving IPCO (Nigeria) Limited

The Supreme Court of the UK in a unanimous judgment, granted a reprieve to the NNPC over a $100 million bank guarantee in a case involving the Corporation and a service company, IPCO (Nigeria) Limited. The reprieve was the latest in the protracted dispute arising from the contract between NNPC and IPCO for the construction of the Bonny Export Terminal (BET) Project in Port Harcourt, Nigeria — which had been on for about 13 years.