Following the much discredited Process and industrial development (P&ID) $10 Billion Arbitral Claim, Nigeria’s Foreign Exchange Reserves was this morning boosted by over $200Million as the London Commercial Court ordered the release of the $200Million guarantee put in place as security in respect of the execution of the P&ID $10 Billion Arbitral Claim.
The Central Bank of Nigeria (CBN) made this known in series of tweets on Tuesday adding that the development led to a rise in the nation’s foreign reserves.
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