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N900m Airport Advert Deal: Faan Appoints Arbitrator On Cancelled Concession.
(From Vanguard (Nigeria) - AAGM)
Byline: Adekunle Adekoya
THE Federal Airports Authority of Nigeria (FAAN) has initiated moves to resolve a legal tangle it found itself after illegally terminating a N900m airport advertising concession agreement signed with Promoworld Ltd by appointing an arbitrator.
In a letter dated 18 Dec 2003, ref no FAAN/12A/01088 to Falana & Falana Chambers, titled Re: Illegal Termination of Concession Agreement: Appointment of Arbitrator, FAAN wrote: "We refer to your letter dated 24th November, 2003 in respect of above subject matter. We hereby inform you that the Federal Airports Authority of Nigeria (FAAN) has appointed …
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