Court awards $10 million damages against Shoprite for contract breach

After seven years of legal battle, a Lagos High Court, Igbosere has awarded the sum of $10 million against South African retail giant, Shoprite Checkers (PTY) Limited and its business partner, Retail Supermarkets Nigeria Limited for a breach of contract entered with a Nigerian firm, AIC Limited in 1998.

In a landmark judgment delivered by Justice Lateef Lawal-Akapo on November 30, 2017, but exclusively obtained by The Guardian yesterday, the court held that the defendants were in breach of the agreement when they (Shoprite and Supermarkets) went secretly behind AIC Limited promoted by Chief Harry Akande to establish Shoprite outlet in one of the locations earlier shown to them by the claimant.

The court also held that the claimant was duly entitled for compensation for such a breach and awarded the sum of N1million against Shoprite as cost of the action as well as an interest at the rate of 10 per cent per annum effective from the date of judgment until final liquidation of the entire sum.

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