World News Archives — Page 18 of 18

Sep

29

2020

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By Thewhisperer

P&ID Contract: UK court orders release of $200m deposit to Nigeria

Business, NewsCBN, Nigeria, P&ID

A commercial court in London has ordered the release of $200 million used as a deposit in the case against Process & Industrial Development (P&ID) to the Nigerian government. The Governor of the Central Bank, Godwin Emefiele who confirmed the development on Tuesday, said the ruling follows the establishment of prima facie fraud before the court. Commenting on the outcome, Emefiele said: “due to the substantial evidence of prima facie fraud established before the court, we are pleased that the judge has agreed to release the guarantee. We are also pleased that the Court has rejected P&ID’s application to increase…

Global Update on Coronavirus: Pelosi Says House Will ‘Stay Here Until We Have a Bill’ for More Aid

Health, World News

Speaker Nancy Pelosi of California said on Tuesday that the House would not leave for the November elections without acting on an additional round of stimulus to prop up the coronavirus-ravaged economy, responding to growing concern among rank-and-file lawmakers over the prospect of returning home to face voters without doing so. “We have to stay here until we have a bill,” Ms. Pelosi privately told lawmakers on a conference call on Tuesday morning, according to two people familiar with the remarks who disclosed them on condition of anonymity. Shortly afterward, Ms. Pelosi repeated the promise in an interview on CNBC,…

WTO election: Africa must unite for unity of purpose as Kalu endorses Ngozi Okonjo-Iweala

World News

The Director General of Global Initiative for Good Governance, Chief Dr. Emeka Kalu has endorsed Dr Ngozi Okonjo-Iweala’s nomination for election as Director-General of the World Trade Organisation (WTO). The endorsement was revealed in a chat with Kaftan TV. Kalu said Dr. Okonjo-Iweala is a world-acclaimed economist, with adept knowledge in the workings of international financial and development systems as an Innovative Manager with a good grasp of the world economy and most importantly, trade, as a tool of development,” In a statement signed by Comr. Sunny Idika, his SA on media, Kalu, however, warned African leaders to learn…