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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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'Bad economy forces banks to cut down operational hours'


By Akinola Ajibade


Nigeria's spiralling inflationary rates, high cost of energy and exchange rates have combined together to impact on banking operations in the country, it was learnt. 

The situation is so bad that, according to reliable sources, that banks are reducing their work hours, a development, which ultimately may lead to job's cut in the industry.

One of the banks, Access Bank, in a notification titled ‘Adjusted Closing Time for Select Branches’ to its esteemed customers has listed 83 branches in different states where its shut doors to customers at 3 pm instead of 4 pm.

The bank urged customers to consider processing most of their transactions via its digital channels.

“You can simply process most of your transactions via our digital channels, as a few of our Access Bank branches nationwide will be closed at 3 pm from the 29th of August, 2022,” the bank stated.

The bank said, while some of its branches will continue to operate between 8 am and 4 pm, its electronic channels would be open to customers 24 hours every day.

Besides,United Bank for Africa Plc,has also unveiled plans to adjust work hours in some of its branches to ensure the well-being of employees and customers alike.

The bank stated this in a notification titled ‘Notice of Bank Closure,’ sent to its customers,said: “Dear customer, please be informed that some of our branches will now close earlier for the safety of our customers and employees. Our digital channels will remain available to you 24/7.”

GTCO and FirstBank and some others took such measures early in the year

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