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Panic sell off continued on the Nigerian Stock Exchange (NSE) on Tuesday with the market capitalisation shedding N656 billion in what an expert attributed to fear of naira devaluation.
The Nigerian Stock Exchange (NSE) market capitalisation opened the week on Monday with a huge loss of N329 billion due to persistent fall in global oil price and rising cases of COVID-19.
The equities market today (Tuesday) recorded the first profit taking after a long streak gain this month leading to a decline in a major performance index as the Nigerian Stock Exchange, NSE All Share Index declined by 1.2 percent or 118 bases points, bps.
The market capitalisation of the Nigerian Stock Exchange on Friday sustained a positive trend, crossing to N13 trillion mark on the second trading day of 2020.
In addition to recording a profit in its Q3 financials in Ocotober, Oando’s management has received recognition from various reputable institutions in the country.
Oando Plc, an indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange has announced unaudited results for the nine months period ended September 30, 2019,(Q3’19) recoding Profit After Tax , PAT of N13.1 billion, an increase of 26 percent compared to N10.4 billion in the same period in 2018 (Q3’18).
The Nigerian National Petroleum Corporation, NNPC, yesterday, signed an agreement with Nigeria Agip Oil Company, NAOC, and Oando, for the transfer of NNPC’s stake in three oil wells, Oil Mining Lease, OML, 61, 62 and 63 to its upstream subsidiary, Nigerian Petroleum Development Company, NPDC.
The Chief Operating Officer, Dr. Ainojie Alex Irune and General Manager, Commercial, Akinbambo Ibidapo-Obe, of Oando Energy Resources (OER), the upstream subsidiary of Oando PLC recently paid a courtesy visit to the Prime Minister of Sao Tome and Principe (STP), Jorge Bom Jesus, and the Minister of Infrastructure, Natural Resources and Environment, Osvaldo Abreu.
Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today announced unaudited results for the six months period ended June 30, 2019.
The oil giant, whose operation was grounded by the Securities and Exchange Commission (SEC) when it laid siege to its head office with the police, weathered the storm and recorded a six per cent increase in revenue of N315.4 billion, from N297.3 billion, in comparative period of 2018.
The NNPC has reportedly issued award letters for highly sought-after contracts to exchange crude oil for imported fuel, with some Nigerian oil firms beneficiaries.
If the SEC goes ahead with this action it will be in clear violation of the interim injunction obtained by Oando’s principals Adewale Tinubu, the Group Chief Executive and Omamofe Boyo, the Deputy Group Chief Executive which restrains SEC, its servants and agents from directing or requesting any agency of the Government to act upon its decisions contained in its letter of 31st May pending the hearing.
The Securities & Exchange Commission (SEC) and Oando saga is generating commentary from all quarters. There have been appeals for SEC to follow due process in the Oando case from groups as divergent as minority shareholder groups to NGOs to the Institute of Directors and even reputable voices such as Atedo Peterside. The international community has been draweninto the fray with the US–Nigeria Trade Council (UNSC) echoing the same tune, but this time the same message.
The Police in Sokoto on Thursday confirmed the death of 22 villagers in the state following sporadic shooting by suspected bandits in Gangara community.
Confirming the report to newsmen on phone Thursday night, Edu said the case from UCTH that went viral on the various social platform came out negative.
The daughter of President Muhammadu Buhari who went on self-isolation after returning from the United Kingdom, UK, two weeks ago has rejoined the family.
Malawi recorded three cases, on Thursday, as the number of cases in Africa struck 6,940 with 278 deaths and 567 recoveries as of 8.30p.m.
With more than 6,000 COVID-19 cases reported in Africa, the virus is threatening fragile health systems on the continent.
Billionaire businessman and one of Africa’s richest entrepreneurs, Mike Adenuga, on Monday, announced a donation of N1.5 billion to the initiatives to combat coronavirus in Nigeria.
Governor Udom Emmanuel has directed that the taskforce for containment of the spread of the COVID-19 pandemic in Akwa Ibom State be trained and equipped to undertake its critical task, as the state commences a week long lockdown.
The Dutch government has recalled over half a million face masks it imported from China after discovering that they were faulty.
Lagos State Government, on Thursday, discharged 11 more patients from the Infectious Disease Hospital, IDH, Yaba, after being tested negative twice for Coronavirus (COVID-19) and have been allowed to return home to their families.
Following the outbreak of the coronavirus pandemic, the Captian Dafieko Sama Foundation, on Friday, said it will be distributing safety kits such as hand gloves, hand sanitizers and face masks to residents of Lagos and Delta States to prevent the spread of the virus.