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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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Court Remands Mamman, Former Power Minster in Abuja



By Favour Ifeoluwa & Akinola Ajibade 


A Federal High Court sitting in Abuja says a former Minister of Power, Alhaji Saleh Mamman will be remanded in Kuje prison in the nation's Federal Capital, pending the consideration of his bail application.

Justice James Omotosho said the on Thursday after the court resumed Mamman’s arraignment on money laundering charge which was earlier stepped down by the judge. 

The former minister pleaded not guilty to the charge preferred against him by the Economic and Financial Crimes Commission.

The EFCC had filed a 12-count money laundering charge against Mamman.

He was alleged to have committed money laundering offences to the tune of N33 billion.

The former minister served under former President Muhammadu Buhari from 2019 to 2021.

Mamman was arrested and detained at the headquarters of anti-graft agency, Abuja onn May 10, 2021, 

Buhari had September 1, 2021, sacked Mamman and the then Minister of Agriculture and Rural Development, Sabo Nanono, in what was called a cabinet restructuring.

Mamman was accused of conspiring with staff of the ministry in charge of the accounts of the Zungeru and Mambilla Hydro Electric Power projects to divert about N22 billion.

The investigations uncovered property in Nigeria and overseas allegedly linked to the suspects, while millions of naira and dollars had reportedly been recovered.

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