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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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CBN rolls out security features for new notes

Redesigned naira notes


By Favour Ajibade


The Central Bank of Nigeria (CBN) has released security features in the redesigned naira notes, in order to prevent users( Nigerians) from falling victims of using fake currency for transactions.

This happens, as the news of new fake naira notes is rife in the country, with traders rejecting N200 and N500 units on allegations they have been counterfeited. 

The apex bank, it was gathered, has marked out security features and peculiarities that distinctively differentiate the new naira notes and make them inviolable to counterfeiting.

The security features, New Mirror gathered, included, at least, 23 features on the N1,000 note, 15 features on the N500 note and 10 features on the N200 note.

Explaining the features to Nigerians,  CBN's Governor, Godwin Emiefiele, advised Nigerians to look out for intaglio raised print, portrait watermark, officially variable ink that changes from blue to green with change in angle of view, kinegram with the image of N1,000 and Coat of Arms, iridescent band, windowed metallic security thread and see through printing in register, adding that the N1000 notes have been tampered with,  once those features are not found in them.

On N500 notes,  Emiefele highlighted their features to include hand-engraved portrait, windowed metallic security thread with CBN inscription, CBN 500 watermark, portrait watermark, officially variable ink that changes from blue to green with change in angle of view, silver patch with embossed Coat of Arms, see through printing in register and raised intaglio print.


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