Nigerian oil tycoon, Michael Prest has lost a $26 million legal battle with his British ex-wife, Yasmin after a divorce settlement.

SkyNews reported that the judgment against Prest was pronounced on Wednesday after seven judges of the UK’s Supreme Court had unanimously agreed to reassess the case .

“I’m delighted and relieved that the Supreme Court has ruled as it did.” said Mrs Prest.

“It is more a case of satisfaction and relief than celebration.” She added.

The ruling orders the business mogul to transfer properties managed by his firm to his wife as part of the divorce award.

A Court of Appeal, last October ruled that a High Court judge had wrongly ordered Mr Prest to transfer properties worth millions of dollars to his ex-spouse.

However this ruling has now been overturned by highest court in the UK’s verdict.

Mr Prest, the co-founder of Nigerian oil company, Petrodel Resources is said to be worth $75 million, according to the High Court’s declaration. However, his ex-wife disputed the figure, claiming he’s worth more in the “hundreds of millions” of dollars region.