Oil/Gas Reports

NNPC Headquarters, Abuja

Despite producing most oil, Akwa Ibom has no NNPC, DPR offices – Governor Emmanuel

The governor says the two agencies do not have even a “kiosk” in the state.

Nigeria loses N222 billion in one year in shady crude oil swap deals — NEITI

Nigeria receives refined fuel lower in value by $723 million, compared to crude oil it sent abroad for refining.

NNPC TOWERS

NNPC should be made to account for N5.15 trillion – NEITI

The report revealed that Nigeria’s oil and gas revenues dropped from $54.5 billion in 2014 to $24.8 billion in 2015.

Baru and Kachikwu

FACT-CHECK: Documents show Kachikwu lied against Buhari, NNPC GMD in $2.89 billion contract claim

Our checks show the minister’s allegation against the President and Mr. Baru is false

Why SEC is yet to start Oando forensic audit

An official says audit may commence after Yuletide.

Oando: Two weeks after public notice, SEC yet to commence forensic audit

Sec told Nigerians on December 5 the audit would begin the next day.

Addax Petroleum [Photo: Africa Oil & Gas reports]

Enmeshed in bribery scandal, Addax says it plans $3 billion investment in Nigeria

Addax paid huge fines in Switzerland over bribery scandal in Nigeria.

How Alison-Madueke used fictitious persons to acquire multi-billion naira assets – EFCC

Businessman Jide Omokore and his wife were also linked to the scandal.

UPDATED: SEC writes Oando again, orders firm to open doors to forensic auditors from Wednesday

The SEC letter to Wale Tinubu was signed by Abdul Zubair, the Acting Director General of the commission.

Reps investigate SEC, Oando Crisis

Mrs. Adeosun ordered the suspension of Mr. Gwarzo and two others based on corruption allegations against them

‎ Court strikes out Oando’s suit to stop forensic audit

The court says it lacks jurisdiction.

Oando: Court ruling stirs uncertainty over suspension of shares’ trading

SEC, NSE keep mum over court restraining order

OANDO

Oando contests suspension in court, faults SEC’s decision

Oando says SEC acted ”without having concrete evidences.”

How Oando declared dividends from unrealised profits, released false financial statements — SEC

The regulatory body says a consortium of experts would audit records of the firm.

What you need to know about the Oando PLC crisis

Managers of the company deny allegations of mismanagement.

Oando crisis worsens as firm is suspended from Johannesburg Stock Exchange

The NSE had suspended the firm on Wednesday.

Oando workers at an oil rig

Oando reacts to SEC/NSE Suspension

NSE said a ‘full suspension of firm’ is effective for 48 hours from Wednesday to Friday.

OANDO

Why we suspended trading of Oando shares – NSE

“A full suspension is the halt of trading activities in a listed security for a period,”

Jubril Adewale Tinubu

UPDATED: Oando Crisis deepens as SEC suspends sale of shares

The company has been enmeshed in crisis since its last shareholders meeting.

Nigeria Vice President, Yemi Osinbajo

$25 billion claims in Kachikwu’s memo fabricated – Osinbajo

The presidency says monetary values cannot be associated to the contracts.

Nigeria Vice President, Yemi Osinbajo

Osinbajo admits approving N640 billion oil contracts for NNPC

Mr. Osinbajo’s admission introduces a new twist to the raging NNPC contract controversy.

NNPC says Osinbajo gave approval for N640 billion contract; vice president’s office keeps mum

The presidency is yet to clarify its role in the NNPC controversy.

President Muhammadu Buhari

Buhari approved N640 billion oil contracts from his sick bed in London, NNPC chief Baru indicates

The contacts were approved by the president even when Mr. Osinbajo was acting president.

President Buhari

How President Buhari caused NNPC Scandal

Minister Kachikwu accuses the NNPC chief of insubordination and contract impropriety.

Dr. Maikanti Baru

NNPC Scandal: GMD Baru fails to address two key issues in response to Kachikwu

Mr. Baru through a public statement responded to the alleged N9 trillion contract scandal.