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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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EFFC Re-Arraigns Ahmsdu Ali's Son, Others Over N2.2 Bn Oil Subsidy Scam


By Akinola Ajibade


Nasir Ali, son of Ahmadu Ali, a former Chairman, Peoples Democratic Party ( PDP) was yesterday arranged before a Lagos High Court for an alledged N2.2billion petrol subsidy fraud.

Ali was arraigned, by the Economic & Financial Crimes Commission(EFCC) alongside one Christian Taylor over the issue.

 Both were arraigned with Nasaman Oil Services Limited on an amended 49-count charge bordering on conspiracy to obtain money by false pretence ,contrary to Section 8 and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006; obtaining money by false pretences.

The offence is contrary to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006; forgery, contrary to Section 363 (3)(j) of the Criminal Law of Lagos State 2011; and use of false documents contrary to Section 364 of the Criminal Law of Lagos State 2011.

The offence, Court, is contrary to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006; forgery, contrary to Section 363 (3)(j) of the Criminal Law of Lagos State 2011; and use of false documents contrary to Section 364 of the Criminal Law of Lagos State 2011.

However, they pleaded not guilty to all the charges preferred against them.

The duo were initially standing trial before Justice Adeniyi Onigbanjo of the Lagos State High Court sitting in Ikeja.

But,Justice Onigbanjo withdrew from the case on health grounds, prompting the re-assignment of the case to Justice Dada.

Sequel to their pleas, the prosecution counsel, S.K. Atteh, prayed the court for a trial date to enable the prosecution to call its witnesses and tender necessary documents to prove the case against them.

The defence counsel, Kolade Obafemi, prayed the tcourt to allow the defendants to continue to enjoy the bail already granted to them by Justice Onigbanjo.

“We crave your lordship’s indulgence that the existing bail granted to the defendants be allowed to continue,” he said.

Replying, Atteh noted that what was most paramount for the prosecution was the attendance of the defendants to face trial.

“Our interest is that the defendants attend trial; and so, we leave the decision to the discretion of this Honourable Court,” he said.

The defence counsel could not immediately present the bail papers of the defendants to the court, though he furnished the court with the earlier court rulings of Justice Onigbanjo with regard to the bail applications.

Presiding Judge,Justice Dada ordered that the defendants be remanded at the custody of the anti-graft commission till the bail papers are presented to the court and a formal application for the bail of the defendants is filed.

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