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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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Supreme Court-Govt others: Allow old notes beyond February 10th


Redesigned Naira Notes 


By Akinola Ajibade


The Supreme Court  has restrained the trio of  Federal Government, Central Bank of Nigeria (CBN) and Commercial Banks from continuing with the February 10 deadline, pending the determination of the suit filed on the issue on the issue.

The government through CBN  had earlier set January end as deadline for the expiration of the old notes, but later postpone it to February 10, due to pressures such scarcity of the new notes and other burning problems in the country.

Prior to this period, the governments of Kogi, Kaduna and Zamfara had in a motion ex-parre filed on February 3rd prayed the apex Court to stop the Central Bank of Nigeria naira policy.

The governors filed the suit against Federal Government and CBN with a view to allow the N200, N500 and N1000 notes to remain a longer tender beyond February 10th, this year.

The government, whose actions were to help the hapless Nigerians, who are feeling the pains foisted on them by problems such as fuel scarcity, redesignation of naira notes, struggling economy among others  appeared  to have won the battle,as Supreme Court led by Justice John Okoro, in an unanimous ruling, granted an interim injunction restraining the Federal Government, CBN, commercial banks etc from implementing the February 10, deadline for the old 200, 500 and 1000 Naira notes to stop being a legal tender.

Mr Bayo Onanuga, who is the Director, Media and Publicity, All Progressives Congress APC' s Presidential Candidate, Asiwaju Bola Ahmed Tinubu hailed the judgement, saying that the governors are strongly fighting on behalf of Nigerians.

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