The Nigerian government has filed a lawsuit against investment bank JP Morgan in the UK for more than $875m (£630m), for what it says was negligence in the handling of funds during an oil deal in 2011.
The same deal is the subject of a case being heard in Italy in which executives from oil companies Shell and ENI have been charged with corruption.
It was a $1.3bn deal, a bounty that could have covered Nigeria’s entire health budget.
But at least $800m of that money went missing. And now the Nigerian government - under a different president - wants it back.
The claim was filed quietly in a British court in November.
In it, Nigeria says that JP Morgan was "grossly negligent" and didn’t follow due diligence when it transferred money to a company called Malabu, which was controlled by convicted money launderer Dan Etete.
It says that JP Morgan should have known or suspected that the money would be misappropriated.
But JP Morgan says the accusations are “unsubstantiated and without merit”.
Executives from the oil companies, ENI and Shell are facing charges of corruption over this oil deal, in an Italian court.
Both ENI and Shell have repeatedly denied any wrongdoing.
BBC
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