Tag: Oando
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Oando denies owning refinery in Malta
Oando Plc has denied allegations linking the company and its executives to Raz Hansir Oil Terminal Ltd., a Maltese company purportedly involved in importing adulterated petroleum products into Nigeria. Oando Plc was alleged to operate an oil storage and blending facility, and purportedly responsible for importing
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Fuel subsidy: Oando, AA Rano, Sahara Energy, others deny receiving payments
Oando Plc, AA Rano, Sahara Energy Resources, Hyde have all denied involvement in fuel subsidy payments before the House of Representatives ad hoc committee investigating subsidy regime. The oil companies said they only lifted crude oil and we’re not part of subsidy payment by the Nigerian National Petroleum Company (NNPC) Ltd. The representatives of the…
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Adulterated fuel: Our imported product meet specifications- Duke Oil, Oando Plc
Two oil companies, Duke Oil and Oando Plc have stated that their imported fuel met Nigerian specifications, repudiating responsibility in the importation of the adulterated fuel that hit the country. This was stated when the companies appeared before the House of Representatives Committee on Petroleum Resources (Downstream) investigating circumstances surrounding the importation of toxic fuel…
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We did not import adulterated PMS into Nigeria- Oando
Oando Plc has said it did not import adulterated PMS into the country
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Importers of fake PMS won’t go unpunished- NNPC
Providing a graphic chronicle of the unfortunate incident, the NNPC CEO said that on 20th January 2022, the company received a report from its quality inspector on the presence of emulsion particles in PMS cargoes shipped to Nigeria from Antwerp-Belgium
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House C’ttee summons NNPC, Oando, Agip others over alleged contract scam
The House of Representatives Committee on Petroleum Upstream on Wednesday summoned NNPC, Oando, Agip and other multinational companies over alleged irregularities in a contract awarded to a Nigerian company, Decoon Service limited. The House Committee in session issued the summon at an investigative hearing following the failure of the organisations to honour invitation earlier sent…
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Court adjourns hearing in SEC, Oando case till July
Justice Ayokunle Faji of the Federal High Court in Lagos on Monday adjourned until 22 July a case brought by Oando to halt management changes ordered by the Securities and Exchange Commission. The SEC’s action followed an investigation in which it allegedly found evidence of financial infractions by the company. Earlier this month, a court…
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Review Oando’s sanction, CSO tells SEC
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. The group made the call in Abuja on Wednesday night by its Executive Director, Mr Splendour Agbonkpolor.…
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Oando minority shareholders query SEC over suspension of AGM
Minority Shareholders of Oando Plc on Wednesday decried the cancellation of the company’s 2018 Annual General Meeting (AGM) by the Securities and Exchange Commission (SEC) on the eve of the programme. Mr Hamza Ridhwa, who is also the Secretary-General, Association for Investors Liberation, spoke on behalf of the shareholders at a news conference in Lagos.…
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Oando Saga: SEC says action aimed at protecting investors
The Securities and Exchange Commission (SEC) on Sunday said that Oando Plc was given sufficient opportunity of being heard before they were penalised. The commission said in Lagos that there were various opportunities by the company to defend themselves during the investigation by SEC and during the forensic audit. “The attention of SEC has been…