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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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NAICOM liquidates Niger Insurance and Standard Alliance.


By Akinola Ajibade


Operation of the Niger Insurance and Standard Assurance, would henceforth be under the control of  two receivers namely Mesrs Sanya Okunkuade and Kehinde Aina respectively.
Their appointment follows the decision by the 
National Insurance Commission ( NAICOM) to liquidate the two composite insurers recently, over industry matters.
NAICOM, in a statement, said that it has appointed receivers to oversee the liquidation of two firms, since it has withdrawn their operational certificates..
NAICOM, in a statement signed by its Head of Corporate Communications and Market Development, Razak Salami, assured stakeholders of the safety and protection of their interest.
The statement reads: “This is to notify all insurance stakeholders and members of the public that the Insurance Regulators- National Insurance Commission, NAICOM has cancelled the certificates of registration of Standard Alliance Insurance Plc, RIC – 091 and Niger Insurance Plc, RIC – 029 with effect from the 21st day of June, 2022.

“Consequently, the Commission has appointed Sanya, Ogunkuade Esq of Plot 217, Upper Grace Plaza, 3rd Floor (Left Wing), Shetima Munguno Crescent, Behind Julius Berger Equipment Yard, Utako, Abuja as the Receiver/Liquidator for Niger Insurance Plc and, Kehinde Aina Esq of Aina Blankson LP, 5/7, Ademola Street, SW Ikoyi, Lagos as the Receiver/Liquidator for Standard Alliance Insurance Plc.

“All stakeholders are advised to forward their enquiries to the respective Receiver/Liquidator for each company for their necessary action

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