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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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EFFC arrests Idris, nation's Accountant General over money laundering issues

By Akinola Ajibade

The Economic and Financial Crimes Commission ( EFFC) has arrested the  Accountant-General of the Federation, Mr Ahmed Idris in connection with money laundering and diversion of public funds.

The anti-graft agency's boss is believed to have been arrested in Kano and thereafter flown to Abuja, the nation's capital for interrogation.

EFFC's spokesman, Mr Uwujaren confirmed the arrest in a statement that the Operatives of EFCC has on Monday ( May 16th this year,  arrested a  serving Accountant-General of the Federation, Mr Ahmed Idris over diversion of funds and money laundering activities to the tune of N80billion.

The revealation was subsequent to what a top official of the Commission told the News Mirror in confidence about the issue.

Prior to this period, EFFC in a report,  has for sometime now been investigating a case of diversion of at least N80 billion in public funds which was allegedly laundered through some bogus contracts.

The funds were allegedly laundered through real estate investments in Kano and Abuja respectively.

The report said that the companies used in laundering the funds have been linked  to family members and associates of the accountant-general. 

Idris, the report noted  was summoned repeatedly by the EFCC for interrogation but he failed to honour the invitations.

“We kept inviting him but he kept dodging us,” one of our sources said. “We were left with no choice than to keep him under watch and arrest him.” the report added.

Recall that President Muhammed Buhari appointed Mr Idris accountant-general on June 25, 2015.

The position became vacant at the time after the former Accountant General, Jonah Otunla, left office on June 12, 2015.

President Buhari reappointed Mr Idris for a second four-year term in June 2019, amid criticisms from labour groups who said the accountant-general should retire after turning 60.

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