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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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Banks begin payment of old N500, N1000 notes to customers

Old naira notes 


By Akinola Ajibade


Nigerian banks, yesterday Monday March 6th, 2023 began to re-dispense old N500 and N1000 notes to their customers for improved socio-economic activities. 
The development, which is in  tandem with Supreme Court judgement to extend the validity of the Central Bank of Nigeria (CBN) naira redesign policy to December this year,  saw  Deposit Money Banks(DMBs) receiving and issuing old notes to customers, with  confidence.
In some of the branches  within the metropolis, visited by the News Mirror, customers were in a  relaxed moods, as they were paid a maximum of N20, 000 each, with the hope of increasing it  subsequently. 
Guaranty Trust Bank (GTB), First Bank, Access Bank, United Bank for Africa( UBA) and Sterling Bank, Lagos are some of the institutions, who 
conducted transactions in apparent obedience to the judgement of the Supreme Court..
A Manager of Sterling Bank in Igbogbo, who does not want his names mentioned, advised customers to exercise patients as they are going to be paid a maximum of N20,000.
' We( banks) operate  in line with the directives of the Federal Government, Supreme Court, CBN and other entities recognised by the constitution. Since we have gotten approval from the headquarters to open our doors for businesses today and which hopefully tomorrow and other days,  I'm assuring all customers present here today, that their complaints would be attended to. 






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