P&ID Case: UK Court Orders Release Of $200m Deposit To Nigeria - AMEBO ONLINE NEWSPAPER

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P&ID Case: UK Court Orders Release Of $200m Deposit To Nigeria

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A Commercial court in the United Kingdom has ordered the release of the $200million guarantee Nigeria placed as security for the stay of execution of Messrs. Process and Industrial Development Limited (P&ID’s) claims.

This was confirmed by the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele in a  statement on Tuesday.

Emefiele also expressed pleasure the Court rejected the P&ID’s application to increase the guarantee, which he noted was clearly intended to be a diversionary tactic and entirely misconceived.

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