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Oando Plc

Central bank redeploys, appoints new directors

The Management of the Central Bank of Nigeria (CBN) has announced the redeployment of Mr. Yusuf Philip Yila, a Director with the Bank and the Managing Director, NIRSAL Microfinance Bank (NMFB), to the position of Director, Development Finance Department, with effect from Friday, January 24, 2020.

Oando’s chairman, secretary, general manager receive prestigious recognitions

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‘s profit up by 26 percent to N13.1 bn in Q3

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).

NNPC transfers stakes in three oil assets to NPDC

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 Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has tasked staff of the National Oil Company to bolster their productivity.

15 oil firms to lift Nigeria’s crude, deliver 14 billion litres of products

The Group Managing Director of the NNPC, Mr Mele Kyari, who made the disclosure in a statement, said the announcement of winners was consistent with its commitment to transparency and accountability in all its activities.
Nigerian National Petroleum Corporation (NNPC)

15 companies win contracts to lift crude oil for 2019/20

The Nigerian National Petroleum Corporation (NNPC) on Sunday released the list of 15 winners of the crude oil lifting contracts 2019/2020 under the Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) arrangement.
The Nigerian Guild of Editors, NGE, yesterday, expressed optimism in the ability of the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari to steer the corporation to enviable heights.

NNPC chief, DPR director, others to speak at NAEC conference

The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, is to lead other team of discussants to x-ray topical issues in oil and gas industry at the 2019 edition of the National Association of Energy Correspondents (NAEC) annual conference.

Oando announces H1 2019 results, posts N7.2 billion profit-after-tax

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.

Oando records six per cent increase in turnover

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.
Mary Uduk - The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.

Clarion call for SEC, other agencies to respect rule of law

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.
Nigerian National Petroleum Corporation (NNPC)

Fourteen firms win bids to lift crude oil in 2019/20

No fewer than 14 local, regional and international oil companies that bid for the 2019 Direct Sale of Crude Oil and Direct Purchase (DSDP) contract have emerged successful.

CSO urges SEC to review Oando’s sanction

A Civil Society Organisation (CSO), Initiative for Leadership and Economic Watch in Nigeria (ILEWN), has urged the Securities and Exchange Commission (SEC) to review the sanction it placed on Oando Plc to give room for equity and justice.

Shareholders, independent parties put pressure on SEC to follow due process

It is often said that when two elephants fight, the grass suffers. This is proving to be the case between the Securities and Exchange Commission (SEC) and Oando PLC as concerned minority shareholders, who are the aggrieved party in the on-going issue, have seized every opportunity to vehemently air their grievances against the SEC, specifically faulting the recent actions of the regulatory body against Oando PLC.

Shareholders condemn SEC’s suspension of Oando annual general meeting

The Pramatic Shareholders Association of Nigeria (PSAN) has condemned the Securities and Exchange Commission's (SEC) suspension of the 42rd Annual General Meeting of Oando Plc which was scheduled to take place on Tuesday, June 11, 2019.

Oando: SEC debunks allegations of lack of due process in investigation

The Securities and Exchange Commission, SEC, has debunked all allegations insinuating lack of due and statutory processes in the investigation of Oando Plc.
Oando Foundation (OF) on Tuesday commissioned various infrastructure and sanitation projects in its adopted school – Bungha Gida Primary School, Mangu Local Government Area, Plateau State, as well as other completed school improvement projects across its five (5) other adopted schools within the state.

Oando Foundation commissions classroom blocks and sanitation facilities in Plateau

OF supports the Nigerian Government in achieving the Sustainable Development Goal 4 (Basic Education) through its Adopt-A-School Initiative (AASI), aimed at holistic improvement of public primary schools. The condition, location and nature of school infrastructure has direct impact on access, quality of education, and also influences learning outcomes.

SEC’s abuse of power negatively impacts Oando’s employees, board of directors

In the Oando versus the Securities and Exchange Commission (SEC) crisis it seems the SECs strategy is to use silent warfare and third parties to achieve one objective - the destruction of Oando PLC.

SEC disregard court order, armed personnel remain in Oando HQ

The Securities and Exchange Commission in a brazen show of high handedness and a total disregard for the Nigerian justice system which they are sworn to uphold, has disregarded the directives of the Federal High Court, Lagos to suspend the implementation of sanctions against Oando PLC.

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Governor Rotimi Akeredolu of Ondo on Saturday morning visited the scene of the explosions that rocked Akure, the capital of the State overnight.

Governor Akeredolu: Akure explosions caused by vehicle carrying explosives

Governor Rotimi Akeredolu of Ondo on Saturday morning visited the scene of the explosions that rocked Akure, the capital of the State overnight.

NSCDC deploys 250 personnel in Ebonyi to curtail virus spread

The Nigerian Security and Civil Defence Corps (NSCDC) in Ebonyi said it has deployed 250 personnel across the state to curtail the spread of COVID-19 pandemic into the state.
President Buhari presides over Federal Executive Council (FEC) Meeting in State House on 12th Dec 2018-4

Nigerian ministers donate 50% of salary to support efforts against virus pandemic

The 43 ministers in the President Muhammadu Buhari’s cabinet have donated 50 per cent of their March salaries to support government’s efforts to combat the COVID-19 pandemic in the country.
The Buhari Media Organisation (BMO) says President Muhammadu Buhari’s administration will not implement policies that will affect the existence of the poor while raising revenue to fund the nation’s infrastructure projects.

Coronavirus shakes up politicians across Africa

South Africa came under a nationwide lockdown on March 27, 2020, joining other African countries imposing strict curfews and shutdowns in an attempt to halt the spread of the COVID-19 coronavirus across the continent.
FCT Minister of State, Ramatu Aliyu, who had earlier gone on self-isolation in line with the protocols of National Centre for Disease Control (NCDC), has tested negative to coronavirus.

FCTA commences fumigation of Abuja markets, parks to fight coronavirus

The FCT Minister of State, Dr. Ramatu Tijjani Aliyu, took the sensitisation awareness campaign to Gwarinpa market, where she appealed to traders to vacate the market for the period of the fumigation exercise.