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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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CBN- Nigerians: " There Are Enough Banknotes For Growth


CBN Headquarters 


By Favour Ifeoluwa & Akinola Ajibade


The Central Bank of Nigeria (CBN) has dispelled the rumours making round in the country that it does not have enough banknotes to meet the growing needs of customers nationwide, and as a result, cannot sped up economic activities in the country.

This follows allegations that the apex banking institution would start rejecting old notes, as the country, like others, is approaching December for the celebration of Christmas and New Year festivals.

The bank on  its official X Platform, hitherto known as Twitter stated thus: 

“For the avoidance of doubt, there are sufficient banknotes in the country for all normal economic activity. We wish to state unambiguously that every banknote issued by the Central Bank of Nigeria remains legal tender and should not be rejected by anyone, as stipulated in Section 20(5) of the CBN Act, 2007,” said CBN spokesman, Isa AbdulMumin. 

“Accordingly, branches of the CBN across the country have been directed to continue to issue different denominations of old and redesigned banknotes in adequate quantities to Deposit Money Banks for onward circulation to bank customers.

“We wish to restate that all denominations of banknotes issued by the CBN remain legal tender. In line with Section 20(5) of the CBN Act, 2007, no one should refuse to accept the Naira as a means of payment.” CBN through its spokesman, Isa AbdulMumin added.

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