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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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DSS arrests officials selling new naira notes


By Akinola Ajibade


The Department of State Services(DSS) has  arrested some members of an organised syndicate selling the new naira notes in parts of the country,the agency has said in a statement.

DSS, however, has refused to disclose their  names and locations. 

Also, the agency said that some  officials of a commercial bank  were aiding and abetting the crime. 

This comes on the heels of efforts of the anti-corruption agencies namely  Economic and Financial Crimes Commission, EFCC, and the Independent Corrupt Practices Commission, ICPC,  to invoke the acts establishing them on the banks. 

In a statement issued yesterday and signed  by the agency's Public Relations Officer, Dr. Peter Afunanya,  DSS warned that it would go after those involved in the malfeasance.


The statement read: “The Department of State Services, thereby informed the public that it has intercepted some members of organised syndicates involved in the sale of the new re-designed naira notes.

In the course of its operations, in this regard in parts of the country, it was also established that some commercial bank officials are aiding the economic malfeasance.

Consequently, the Service warns the currency racketeers to desist from this ignoble act, adding that appropriate regulatory authorities would henceforth step up their monitoring and supervisory activities in order to  address the problem. 

DSS said: " “It should be noted that the Service has ordered its commands and formations to further ensure that all persons and groups engaged in the illegal sale of the notes are identified.

‘’Therefore, anyone with useful information relating to this is encouraged to pass the same to the relevant authorities”.

Meanwhile, Nigerians are facing problems swapping old for  new notes in banks, despite the decision by President Muhammad Buhari to extend the deadline for the changing of naira notes for 10 days.


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