Nigeria Denies Blame For $875M Transfer In JPMorgan Suit

Law360, London (May 1, 2019, 12:16 AM BST) -- Nigeria fought back Monday against JPMorgan's claim the country contributed to its own losses in a dispute over $875 million in state funds the banking giant transferred to a former oil minister at the behest of corrupt former government officials.

JPMorgan Chase NA had sought to put some of the responsibility for the losses on the nation itself, but in a reply filed with the High Court, the Federal Republic of Nigeria maintained it was not responsible for the unlawful actions of former members of its government. Nigeria is suing the bank for allegedly ignoring red flags with requests from purported...

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