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2. The execution of the nation’s $2.8 billion Ajaokuta-Kaduna-Kano, AKK gas pipeline project was boosted, weekend, through the delivery of 96 pipes from Warri to Itakpe in Kogi state.

NNPC delivers 96 AKK project pipes by rail to Itakpe

The execution of the nation’s $2.8 billion Ajaokuta-Kaduna-Kano, AKK gas pipeline project was boosted, weekend, through the delivery of 96 pipes from Warri to Itakpe in Kogi state.

Court declares SEC sanctions against Oando management null, void

Oando shareholders in the persons of Alhaji Yakubu Gumel; Alhaji Kabiru Tambari, suing for himself and on behalf of the Sokoto Zone Shareholders Association; Tunde Badmus, suing for himself and for the benefits of Pacesetters Shareholders Association, bagged yet another win at the Federal High Court (FHC) Kano, in a suit filed against the Securities and Exchange Commission (SEC) for overreaching its powers.

Deadlock in SEC case as Oando appeals court ruling

On Thursday, February 25, 2021 in a ruling presided over by Justice Giwa Ogunbanjo at the Federal High Court, Abuja, the judge declined jurisdiction to hear suits brought by Oando PLC and its directors against the Securities and Exchange Commission (SEC). The judge stated that the Investment and Securities Tribunal (IST) would be the appropriate forum to hear the matter.
1. An Oando shareholder, Engr. Patrick Ajudua, took it upon himself to legally challenge the Securities and Exchange Commission (SEC), in a suit filed at the High Court of the FCT.

Multiple Oando shareholders challenge SEC as court restrains commission from carrying out actions against...

The Securities and Exchange Commission (SEC) was slammed another lawsuit by displeased shareholders of Oando PLC at the Federal High Court Kano on Friday, February 19, 2021.  The shareholders filed for an interim order restraining SEC, its agents or representatives from acting on its May 31, 2019 letter sanctioning the Management of Oando.

Oando: Court stops SEC from infringing on shareholders rights

The disgruntled shareholder, filed that the directive of the SEC suspending Oando's Annual General Meeting is in breach of his right to freedom of association as guaranteed under Section 40 of the Nigerian Constitution and Articles 9, 10 & 11 of the African Charter on Human and Peoples Rights.
President Muhammadu Buhari has approved the appointment of Bashir Jamoh as the director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA).

NIMASA underscores strategic importance of Badagry deep seaport

The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, says the Badagry Deep Seaport project in Lagos State is a strategy to the development of Nigeria as a global maritime hub.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigeria’s stock market closes for Christmas with N2 billion loss

Nigerian Stock Exchange (NSE) on Thursday reversed its uptrend, dropping by N2 billion ahead of the Christmas celebration.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigeria stock market gains N334 billion on Dangote Cement share buyback

The Nigerian Stock Exchange (NSE) gained N334 billion on Monday due to buying interest in Dangote Cement and 22 other stocks.

Oando blames SEC for failure to submit Q3 financial results

Oando Plc, an integrated energy company, has blamed the Securities and Exchange Commission (SEC) for its inability to submit third quarter (Q3) 2020 financial results.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE opens week with 0.04 percent loss

The domestic equities market on Monday extended its losing streak with the All-Share Index dropping by 0.04 per cent, as the country officially entered recession.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nestle, Dangote top losers as Nigerian stocks lose N279 billion

Nigerian Stock Exchange closed southward on Tuesday for the second consecutive day, with market capitalisation shedding N279 billion.

Police arraign manager over alleged theft of employer’s N1.48 million

A 38-year-old Manager, Ademola Olayemi, on Tuesday, appeared before an Ikeja Chief Magistrates Court for allegedly stealing his employer’s N1.487 million.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE moves 637.49 million shares worth N5.23 billion

Investors on the Nigerian Stock Exchange on Friday traded 637.49 million shares worth N5.23 billion transacted in 6,354 deals.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigeria stock market opens November with 0.17% loss

The Nigerian equities market resumed November trading with a loss of 0.17 per cent, halting the six-day bullish run on the back of profit taking.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Trading remains upbeat on NSE, index up 1.28%

Activities on the Nigerian Stock Exchange on Friday remained upbeat for the fifth consecutive day, with the All-Share Index growing by 1.28 per cent to cross 26,000 mark.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE: Investors stake N3.79 billion on 419.66 million shares in bullish trading

The Nigerian Stock Exchange (NSE) on Friday moved 419.66 million shares worth N3.79 billion in bullish trading.

TUC, others reject new fuel price, as petrol stations adjust pump

Petrol stations across the country, yesterday, adjusted their pumps to reflect the hike in the ex-depot price of the Premium Motor Spirit, PMS, by the Petroleum Products Marketing Company, PPMC, with some of the stations raising the price to as high as N161 per litre.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE strengthens investor protection, upgrades X-Whistle

The Nigerian Stock Exchange (NSE) has announced the upgrade of its whistleblowing platform, X-Whistle.
Member Representing Ajaokuta Federal Constituency, Idirissu Lawal, has called on the Federal Government to take urgent step towards the conduct of a reliable population census in the country for effective planning.

Firm petitions House of Reps over unpaid N70 million, $30 million debts

An engineering company operating in the Oil and Gas sector under the aegis of DE COON Services Limited has petitioned the House of Representatives over several contracts scams and non-payment of the sums of over $30m and N70M owed it by Nigeria Agip Oil Company, NAOC.
The Department of Petroleum Resources (DPR), Osogbo field Office, has sealed 15 Liquefied Petroleum Gas (LPG) skid stations for operating without valid licences.

DPR warns against circulation of substandard lubricant in Bauchi

The Department of Petroleum Resources (DPR) in Bauchi, has cautioned retailers against the circulation of substandard Base Oil (Lubricant) products.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE: Market indicators rise further 0.75 percent

Activities on the Nigerian Stock Exchange (NSE) on Wednesday extended gaining streak, with indices rising by 0.75 per cent on renewed investors’ interest.

AKK gas pipeline commercially viable, can repay in 10 years – contractor

Mr Emeka Okwuosa, Chairman Oilserv Ltd., says the Ajaokuta-Kaduna-Kano (AKK), gas pipeline project is commercially viable and can service its loan before the stipulated time frame.

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