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NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further said that two large boats, which involve
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Access may acquire controlling shares in Angola Bank

By Favour and Akinola Ajibade 

Access Bank may acquire a majority share in  Finibanco Bank S.A,  a full size Commercial Bank with 20 branches and a  total assets of $300million  in the oil rich nation in Southern Africa. 
This follows the  regulatory approval by the Central Bank of Angola, Bianco Nacional de Angola.
Prior to this period, the Central Bank of Nigeria (CBN) had approved the transaction and the Bank now expects to receive the approval of the Angolan Competition Authority in the coming days in order complete regulatory approvals required to bring the transaction to closure.
While announcing the decision by Access Bank to acquire the Angola Bank, the Company Secretary, Sunday Ekwochi said the bank has also signed an agreement with minority shareholders of Finibanco Angola S.A who have expressed an interest to sell their shares concurrently as the bank targets above 80 percent at the completion of the deal.
Similarly, the Group Chief Executive Officer, of Access Holdings said the company is pleased with the development which has made Access Bank, a frontline bank on the continent.
“We are pleased to be well positioned to join the select league of banks providing high-value financial services to high growth business and the rising consumer sector in Angola”.

 


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