Oando Plc on Monday said it has signed a peace accord with one of the aggrieved shareholders, Alhaji Dahiru Mangal, who earlier petitioned the Securities and Exchange Commission (SEC).

Mr Ayotola Jagun, Oando Chief Compliance Officer & Company Secretary said that the Emir of Kano, Muhammadu Sanusi II, waded into the crises between the company and Alhaji Dahiru Mangal.

The statement was posted on the Nigerian Stock Exchange website (NSE).

The company in the statement officially confirmed Mangal as a substantial shareholder.

US crude production is on course to overtake Saudi Arabia and rival Russia, the International Energy Agency said, as it revised higher its 2018 growth forecast and stressed that “explosive” expansion in shale was offsetting Opec-led supply cuts.

In its closely watched monthly oil market report published on Friday, the IEA said production growth was returning “to the heady days of 2013-2015”, even as the Paris-based body said global supply and demand would broadly find balance this year.

The latest body to raise US estimates, following the US energy department’s statistics arm and Opec’s own research unit, the IEA said: “This year promises to be a record-setting one for the US.”

US growth of nearly 1.4m barrels a day — to a record 10.4m b/d — will help propel non-Opec supply by 1.7m barrels a day in 2018. Total output from outside the cartel is forecast at 59.8m b/d.

Investors on the Nigerian Stock Exchange, NSE, today lost a total of N6 billion from their investment as profit taking takes center stage in the market. Though the price movement chart showed that for one loser, there was a gainer, but the losers upstaged the gainers following losses in some heavily capitalised stocks. Specifically, 26 gainers and another 26 losers emerged at the end of today’s trading.

The Central Bank of Nigerian, CBN, Monetary Policy Committee scheduled next week to decide on interest rates is unlikely to hold as a result of delay in approval of new committee members.

The development followed the failure of the Nigerian Senate to approve the appointment of at least five new MPC members, which means the committee will probably not be able meet to discuss policy decisions, or make an announcement on interest rates on Jan. 23.

Chairman, Senate Committee on banking, Rafiu Ibrahim told Reuters news agency that: “We are not considering the confirmation” of the MPC members. The senate has an issue with the executive. Anything to do with a confirmation will not be considered.”

The National Insurance Commission (NAICOM) has released a revised microinsurance guideline for the underserved and excluded segment of the populace.

The commission said the guideline was also introduced as part of the financial inclusion strategy to stimulate growth in the insurance subsector especially the retail end of the market and drive insurance penetration.

The guideline, which comes to effect on January 1, 2018, establishes uniform set of rules, regulations and standards for conduct of microinsurance business.

The guideline was made available to reporters by the Commission’s Head, Corporate Affairs, Rasaaq Salami in Lagos.

Indian Government says it is providing 3.5 million dollars as capacity building assistance to train Nigerian government officials under its India Technical and Economic Cooperation, ITEC, programme. The Indian High Commissioner to Nigeria, Mr. Nagabhushana Reddy, disclosed this at an event to mark the, ITEC, Day in Abuja, Nigeria.

The Securities and Exchange Commission (SEC) has extended period for the free e-dividend registration to Feb. 28, to encourage more shareholders participation in the initiative.

The commission in a statement obtained on Thursday in Lagos, indicated that the extension was part of its developmental role.

It said that the extension became necessary to encourage more shareholders mandate their bank accounts.

The statement said in reviewing the progress of the e-Dividend Registration after the Dec. 31, 2017 deadline, there was still a great influx of shareholders desirous of mandating their Bank accounts for payment of dividends electronically.

The Central Bank of Nigeria (CBN) has injected another sum of $210million into the inter-bank Foreign Exchange Market, to meet customers’ requests in various segments of the market.

Figures obtained from the Bank on Monday, January 15, 2018, showed that the CBN offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million. Customers requiring

foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.

The Nigerian National Petroleum Corporation (NNPC) on Thursday disowned advertisements on social media seeking for applications to fill phantom positions in the Engineering Department of the National Engineering and Technical Company, NETCO.

News Agency of Nigeria, NAN, reports that a statement in Abuja by the NNPC Spokesman, Mr Ndu Ughamadu, said NETCO, an upstream subsidiary of the corporation, was not recruiting.

Nigeria has filed a claim against JP Morgan Chase for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company controlled by the country’s former oil minister.

A spokeswoman for JP Morgan dismissed the accusation on Thursday, saying the firm “considers the allegations made in the claim to be unsubstantiated and without merit”.

The suit filed in British courts relates to a purchase of the offshore OPL 245 oilfield in Nigeria by oil majors Royal Dutch Shell and Eni in 2011.