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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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Failed Transactions: CBN Refunds N115.45b To Customers

By Favour & Akinola Ajibade


The Central Bank of Nigeria,CBN says it has  refunded customers to the tune of N115.45 billion in this country.

This follows decision by the apex banking regulatory body to resolve 33,437 cases  out of 35, 453 discovered in the industry.

Speaking on the issue recently, Mr Elachi Samuel of the Consumer Protection Department,CBN, urged stakeholders, including farmers to make use of an alternative payment channels in order to enable it reduce problems relating to banking transactions greatly in the future. 

This, Elachi said, would help in bridging the gap of Nigerians who outside banking industry and further deepening financial inclusion system in Nigeria. 

While enlightening stakeholders in Abuja, he implored farmer associations to embrace the e-Naira policy which is being  implemented in the country. 

He further said that the rights and responsibilities of financial consumer, particularly in chosen banks’ products, resolving failed bank transactions and disclosure of details, are necessary in developing the sector.

He noted: “It is within your right to receive transaction history on your mail to know how much you’re being charged. This will allow you to know that you’re not shortchanged and cheated. Financial consumers must know that they have the right to report their banks to the CBN over unresolved failed transactions.

“If you report the problem to us, we will look at the issues and ensure that we do justice. Between May 20, 2013 and May 20, 2023, we were able to refund N115.45 billion of failed bank transactions.We have received 35,453 complaints. We resolved 33,437″.

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