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Oando Acquires Oil Block In Angola

Oando Plc  Favour Ifeoluwa & Akinola Ajibade  Oando Plc  says it has completed and won the bid for the operatorship of oil block KON 13 in Angola. The firm which recently acquired Eni of Italy’s oil assets in Nigeria, said that the award of the oil block located in Angola’s onshore Kwanza Basin followed a competitive bidding process by the country’s oil and gas sector regulator. It further said hat the asset in which it owns 45 per cent participating interest, has estimated prospective resources of 770 to 1,100 million barrels of oil. Oando is handling its operations relating to the asset through its upstream subsidiary, Oando Energy Resources (OER). “Oando Plc,  Africa’s leading indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange is pleased to announce that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a...
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N723m: Standard Bank Staff dragged to court

By Akinola Ajibade

A staff of Standard Chartered Bank, Nigeria Limited, Jeffrey Akhimien and others were dragged before the federal high court in Lagos for allegedly defrauding the bank of N723, 660, 867. 47 million.

News Mirror reports that the bank had in a bid to recover the money reported Jeffrey Akhimien alongside Segun Samuel Ogunjimi and a limited liability Company, Greaterheights Technologies Limited, to Police Special Fraud Unit (PSFU) for Investigation and prosecution.

Thereafter, PSFU dragged the defendants to court on charges bordering on fraud, illegal and unlawful funds conversion and  obtaining funds through false pretence.

Jeffrey Akhimien, a staff of the bank in Aromire, Ikeja branch was accused of conspiring with Segun Samuel Ogunjimi, his company, Greaterheights Technologies Limited and one Lucky Sargin, to swindled the bank of total sum of N723, 660, 867. 47 million.

The defendants were alleged to have committed the offences within one year, precisely between January and December, 2020.

The first defendant, Jeffrey Akhimien, was alleged to have singlehandedly converted to his own use and benefit, the sum of N175 million. While he and others were alleged to have jointly defrauded the bank of the sum of  N548, 660, 867.47  million.

The Bank’s staff, Jeffrey Akhimien was alleged to have falsely presented to the bank, that all members of staff of Greaterheights Technologies Limited, needed loans from the Bank and that the said Staff authorized him to approach the Bank and negotiate for the loans on their behalf and that their salaries and Grade Levels qualified them for the loans and that their loans advanced was meant to assist them solve their individual financial needs and that they had the means, ability and capacity to pay back the loans as at when due.

The offences according to the prosecutor, Mr. Henry Obiaze, are contrary to Section 8(a), 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006, but punishable under Section 1(3) of the same Act.

He also told the court that the offences contravened Sections 15(2)(b) of the Money Laundering (Prohibition) Act, 2011 as mended in 2012.

All the defendants pleaded not guilty to the charges. The development, which make the prosecutor to ask for trial date as well urged court to remand all the defendants till the determination of the charge.

But their counsel, told the court of his clients’ bail appllication, which was argued.

Ruling on the counsel submissions on the bail appllications, Justice Peter Lifu, acceded to the defendants’ request, and granted each of them bail in the sum of N10 million with two sureties in like sum.

Justice Lifu also ordered that one of the sureties must be a blood relation to the defendants, while the other must be a Civil Servant in Federal of Lagos State employment and not below Grade Level 12.

The judge while adjourning the matter till May 26, for trial, ordered that the defendants be remanded in the custody of the Nigerian Correctional Services (NCoS) pending the perfection of the bail conditions.”


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