{"id":12057,"date":"2017-04-05T15:00:23","date_gmt":"2017-04-05T14:00:23","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=12057"},"modified":"2017-04-05T15:00:23","modified_gmt":"2017-04-05T14:00:23","slug":"100m-guarantee-uk-supreme-court-grants-nnpc-reprieve","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/","title":{"rendered":"$100m guarantee: UK Supreme Court grants NNPC reprieve"},"content":{"rendered":"

The Supreme Court of the United Kingdom, in a unanimous judgment, has granted a reprieve to the Nigerian National Petroleum Corporation over a $100m bank guarantee in a case involving the corporation and a service company, IPCO (Nigeria) Limited.<\/p>\n

The reprieve, according to a statement by the corporation on Tuesday, was the latest in the protracted dispute arising from the contract between the NNPC and IPCO for the construction of the Bonny Export Terminal project in Port Harcourt, Rivers State.<\/p>\n

IPCO had referred its claims to arbitration in Nigeria and obtained an arbitral award of $154m in 2004, with annual interest running at 14 per cent, leaving the NNPC with no option than to challenge the award at the Federal High Court in Lagos.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

The Group Managing Director, NNPC, Dr. Maikanti Baru, said he was delighted about the new development, commending the efforts of the legal team that secured judgment in favour of the corporation.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Supreme Court of the United Kingdom, in a unanimous judgment, has granted a reprieve to the Nigerian National Petroleum Corporation over a $100m bank guarantee in a case involving the corporation and a service company, IPCO (Nigeria) Limited. The reprieve, according to a statement by the corporation on Tuesday, was the latest in the …<\/p>\n","protected":false},"author":11,"featured_media":372,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[188],"coauthors":[2392,2393],"class_list":["post-12057","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-nnpc"],"yoast_head":"\n$100m guarantee: UK Supreme Court grants NNPC reprieve - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$100m guarantee: UK Supreme Court grants NNPC reprieve - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Supreme Court of the United Kingdom, in a unanimous judgment, has granted a reprieve to the Nigerian National Petroleum Corporation over a $100m bank guarantee in a case involving the corporation and a service company, IPCO (Nigeria) Limited. The reprieve, according to a statement by the corporation on Tuesday, was the latest in the …\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-05T14:00:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/03\/unnamed.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"489\" \/>\n\t<meta property=\"og:image:height\" content=\"301\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/03\/unnamed.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/03\/unnamed.jpg\",\"width\":489,\"height\":301},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/\",\"name\":\"$100m guarantee: UK Supreme Court grants NNPC reprieve - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/#primaryimage\"},\"datePublished\":\"2017-04-05T14:00:23+00:00\",\"dateModified\":\"2017-04-05T14:00:23+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"$100m guarantee: UK Supreme Court grants NNPC reprieve\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"$100m guarantee: UK Supreme Court grants NNPC reprieve - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/","og_locale":"en_US","og_type":"article","og_title":"$100m guarantee: UK Supreme Court grants NNPC reprieve - National Wire","og_description":"The Supreme Court of the United Kingdom, in a unanimous judgment, has granted a reprieve to the Nigerian National Petroleum Corporation over a $100m bank guarantee in a case involving the corporation and a service company, IPCO (Nigeria) Limited. The reprieve, according to a statement by the corporation on Tuesday, was the latest in the …","og_url":"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/","og_site_name":"National Wire","article_published_time":"2017-04-05T14:00:23+00:00","og_image":[{"width":489,"height":301,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/03\/unnamed.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Dayo Emmanuel","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/03\/unnamed.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/03\/unnamed.jpg","width":489,"height":301},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/","name":"$100m guarantee: UK Supreme Court grants NNPC reprieve - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/#primaryimage"},"datePublished":"2017-04-05T14:00:23+00:00","dateModified":"2017-04-05T14:00:23+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f"},"breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/100m-guarantee-uk-supreme-court-grants-nnpc-reprieve\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"$100m guarantee: UK Supreme Court grants NNPC reprieve"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f","name":"Dayo Emmanuel","url":"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/12057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=12057"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/12057\/revisions"}],"predecessor-version":[{"id":12058,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/12057\/revisions\/12058"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/372"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=12057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=12057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=12057"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=12057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}