Oando Posts Impressive Results: N19.8bn PAT

Five quarters in a row, Oando Plc has sustained its trend of posting positive results. The company has once again boosted shareholders confidence by publishing N19.8bn profit after tax in its twelve months ended December 31, 2017 financial results. This is coming on the ills of the challenging environment that ensued after the company’s 2014 […]

NNPC Awards Oando Plc Engineering, Procurement And Construction Mandate To Develop Ajaokuta-Kaduna-Kano Gas Pipeline Project

A two party consortium consisting of Oando PLC (“Oando”), in conjunction with its midstream affiliate, Axxela Limited (“Axxela”) (formerly known as Oando Gas & Power) and Oilsery Limited, has been awarded the Engineering, Procurement, Construction (EPC) mandate for the Ajaokuta – Abuja portion (Lot 1) of the Ajaokuta-Kaduna-Kano Pipeline system (the “AKK Pipeline”) by the […]

NSE Lifts Suspension On Oando’s Shares

The Nigerian Stock Exchange (NSE) says it has lifted the suspension placed on shares belonging to Oando Plc. In a notice signed by Tinuade Awe, general counsel, head of regulation, NSE said shareholders can now trade their shares but the trading activity will not lead to a change in price. “Dealing members are referred to […]

Oando Plc logo

Oando Leads Nigeria Delegation At Africa CEO Forum

Heads of States, public decision-makers, bankers, capital investors as well as African and international corporate leaders are today gathered at the Africa CEO Forum in Abidjan, Cote d’Ivoire, to discuss and take lessons from the success stories of the African private sector as well as dialogue and propose strategic solutions regarding the development of African enterprise […]

Oando Plc logo

Shareholders Seek Accelerated Forensic Audit of Oando

The Proposed forensic audit of Oando Plc should commence without any further delay, shareholders of the company declared yesterday in Lagos. According to the shareholders, the investigation should be detailed and “without any fear or favour”. Under the aegis of Nigeria Shareholders Solidarity Association (NSSA), the shareholders also called on the auditors to investigate all management staff […]

Oando Plc logo

Oando gets court order to halt share suspension, audit -court paper

Oando has obtained a court order halting the suspension of trading in its shares and a forensic audit planned by the Securities and Exchange Commission (SEC), court documents seen by Reuters showed on Tuesday. Shares in Oando Plc were frozen at N5.99 on Monday until further notice, the stock exchange said after the Securities and […]

Oando Shareholders Laud SEC, Seek Accelerated Investigation

Folake Sokoya Shareholders of Oando Plc on Thursday commended the Securities and Exchange Commission (SEC) resolve to investigate allegation leveled against the management of the company. Reacting to the development, National Coordinator Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie said the decision will restore investors’ confidence in the capital market. SEC had of Wednesday […]

Oando Crisis: Shareholders Admonish SEC To Live-Up to Its Expectations

Some Shareholders of Oando Plc have called on the Securities and Exchange Commission (SEC), to live-up to its standard on the directives handed down to it by the House Committee on Capital Market and Institutions to investigate allegations of financial impropriety and mismanagement of Oando Plc. Addressing newsmen in Lagos at the weekend, the shareholders […]

Oando Gas & Power Rebrands as Axxela

Oando Gas & Power Limited (“OGP”), the erstwhile midstream business subsidiary of Oando PLC (“Oando”), has formally announced the change of its corporate identity and branding to Axxela Limited (“Axxela”). The rebranding effort follows the recent US$115.8million acquisition of a 75 percent equity stake in the business by Helios Investment Partners LLP (“Helios”), a premier […]

Oando to boost gas supply with 8.5km PH infrastructure

OANDO Plc, on Tuesday, said it is set to expand the country’s gas capacity, through its partnership with Rivers State government on completion and expansion of the 8.5 km natural gas distribution network in Port Harcourt Franchise Area. A statement by the Head, Corporate Communications, Oando Plc, Alero Balogun, said this will be from the […]