A 47-year old Nigerian, Mr. Friday Okolo (Photo 1: left) has sued an indigenous Nigerian Oil & Gas company, another defendant and a third party for illegal entry, continuous trespass and consequent drilling of oil and gas on his private land without paying compensation.
The opposing parties in the lawsuit are Midwestern Oil and Gas Company Limited (the first defendant), Chief Sunday Ochonogor, a native doctor and herbalist (the second defendant) who is sued in his personal capacity and on behalf of the Umuachi Family of Umusadege Quarters in Kwale, Delta State and the Nigerian National Petroleum Corporation (NNPC) sued in the corporation’s capacity and on behalf of the Ministry of Petroleum Resources (the third party).
Continue reading “OML 56: Midwestern Oil & Gas And 2 Ors Sued For Collusion, Trespass & Drilling Oil On Private Land Without Compensation”
History of Bitcoin
Bitcoin is a new currency created and introduced in 2008 by an unknown person. The bitcoin software was eventually released to the world in 2009 by the same unknown person using the alias Satoshi Nakamoto. Bitcoin is a cryptocurrency, a digital currency or (digital asset) designed to work as a medium of exchange . . .
Continue reading “Bitcoin: The Digital Currency Revolution”
Nigeria has been listed among the 10 economies showing the most notable improvement in the World Bank’s Ease of Doing Business list published on Tuesday . . .
Continue reading “World Bank Ease Of Doing Business: Nigeria Listed”
Africa’s leading airline, Ethiopian Airlines, has said that it has submitted a formal offer to take charge of troubled local carrier Arik Air, which accounts for more than half of Nigeria’s air passenger traffic, the CNN has reported . . .
Continue reading “WE’RE BIDDING FOR ARIK AIR – ETHIOPIAN AIRLINES”
Etisalat Nigeria is reportedly changing its brand name to 9Mobile
Prior to this move, Etisalat International had asked the Nigerian arm of the telecom giant to discontinue the use of Etisalat as the brand name . . .
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NNPC and IOCs operating in Nigeria including independent oil companies lifted crude oil and condensate worth over $36.023bn; Nigeria is hiring Oracle and Microsoft as the government invests more to save costs and fight corruption; TCN has disclosed that it is prepared to build two new 330KV substations in Kaduna and Zaria . . .
Continue reading “NNPC Lifts Crude, Nigerian Govt Hires Oracle & Microsoft, TCN To Build Substations”
GE Emerges Sole Bidder for $2bn Nigerian Rail Concession
A consortium led by General Electric (GE) has submitted the only bid for a Nigerian railway concession project worth around $2 billion for two lines connecting northern cities to others in the south, a procurement process adviser said on Wednesday . . .
Continue reading “GE Bids For Nigerian Railway Concession”
UBA Grows Profit Before Tax By 32%, Declares 55kobo Per Share Dividend
United Bank for Africa (UBA) Plc, the pan-African financial services group, operating in 19 African countries, has released its audited 2016 full year results, showing significant growth in gross earnings and profits, an attestation to its resilience, enhanced productivity and geographic diversification, evident in the impressive contribution from its African subsidiaries . . .
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With a total market capitalisation of N5.65 trillion, Dangote Cement, Nigerian Breweries, Guaranty Trust Bank, Nestle and Zenith Bank made up 64.02 per cent of equities quoted on the Nigerian Stock Exchange (NSE) . . .
Continue reading “MARKET CAPITALISATION: Dangote Cement, Zenith, GTBank & 2 Others Own 64% Of Equities On NSE”
NNPC, Schlumberger collaborate on frontier exploration
World’s (French owned) largest oilfield services and equipment company teams up with Nigerian national oil giant on frontier hydrocarbon deposits search in the Chad basin.
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