Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain
The trial judge, Justice Abdul-Azeez Anka, made the order yesterday in response to a motion filed by the Economic and Financial Crimes Commission (EFCC) seeking the permanent forfeiture of the property.
Justice Anka, who granted the motion as prayed after listening to the submissions of the EFCC’s counsel, Anselem B.C. Ozioko, said: “I have gone through the affidavit attached to motion for final forfeiture as well as the submissions of the EFCC’s counsel, A. B. C. Ozioko. The court has no option considering the incontrovertible evidence filed by the EFCC than to grant the application.
In another development, the Nigerian Content Development and Monitoring Board (NCDMB) says it has a 10-year strategic development plan to usher in changes in oil and gas sector to ensure sound regulatory framework and international best practices.
Executive Secretary of the NCDMB, Simbi Wabote, who stated this yesterday during a three-day workshop held at the Imo Trade and Investment Centre, Owerri, said the board had mapped out the strategic plan to launch it to greatness in the oil and gas sector.
However, oil workers under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and another group, Campaign Against Corruption and Bad Governance (CACOBAG), have called for proper and thorough investigation into the crisis surrounding the $25 billion contract and employment allegation in the Nigerian National Petroleum Corporation (NNPC).
In a statement yesterday signed by the Group Secretary of the Group Executive Council (GEC) of PENGASSAN in NNPC, Mr. Sulaiman Sulaiman, the associationvowed to resist any attempt by non-executive officials of the NNPC to meddle with the affairs of the corporation.
The Chairman of CACOBAG, Mr. Toyin Raheem, who spoke in Lagos, noted that corruption is a criminal act and by virtue of the EFCC Act, it is mandatory that every allegation of corruption, more so that involved the NNPC, be investigated by the EFCC.
Group Managing Director of the NNPC yesterday said the country might get a new refinery in Akwa Ibom State going by interest from investors.
Baru, who stated this at a two-day PENGASSAN’s triennial retreat/synergy workshop in Uyo, said the state was well-positioned geographically to have a refinery.
Meanwhile, the EFCC has begun probe of over N25.6 billion released to Cross River State by the Federal Government to settle outstanding indebtedness of the state to workers.
An EFFC personnel, who spoke on condition of anonymity, told some newsmen that they were on a discrete investigative mission to make an on-the-spot fact-finding on whether some pensioners were being owed or not and see how such funds released to the state were applied.
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