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Business News

Oando becomes first oil & gas company in Nigeria to be ISO 27001 Certified

Oando PLC has become the first Oil and Gas Company in Nigeria to receive the prestigious ISO 27001 Certification from Certification Partner Global FZ LLC.

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Wale Tinubu, Group Chief Executive Officer, Oando Plc, Reclassification of Oando Plc as Low Price Stock, Oando’s gas deal with NLNG to increase Nigeria’s market share in LNG market, Oando becomes first oil & gas company in Nigeria to be ISO 27001 Certified

Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigeria and Johannesburg Stock Exchange, is pleased to inform the public that on Tuesday, January 21, 2020, it became the first Oil and Gas Company in Nigeria to receive the prestigious ISO 27001 Certification from Certification Partner Global FZ LLC.

ISO 27001 is the international standard outlining best practices for information security management systems.

Speaking at the certificate presentation ceremony, the Group Chief Corporate Services and Operations Officer, Oando, Mr Zubairu Muntari said, “This is a significant achievement for Oando. By implementing and following the necessary steps to comply with this standard, we can identify, control, and eliminate security risks, ultimately validating the security practices adopted within the organization.

“The certification also means that we are able to provide our stakeholders with a higher degree of confidence in the quality and stability of data security and further validating our commitment to the highest standards of information security.”   

Oando Plc, Oando invites applications with OandoGAP, International Volunteer Day – Oando Foundation renews commitment to adopted school through Art and Craft

Oando plant

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The Head of IT, Oando Group, Mr Idris Musa, who directed the project, attributed the success to the commitment by the management towards managing business compliance and operational risks associated with the use of information systems and digital assets.

He said, “The investment in ISO 27001 enterprise security framework have allowed us structure and implement modern security controls in a complete and cohesive manner thereby strengthening our data and information system governance.”

Commenting on the certification, the Chief Operating Officer, Digital Encode Limited, Dr Obadare Peter said, “Essentially, the certification aims to establish and put in place good information security practices across the Oando Group. The certification is proof that the Company’s systems and processes have been audited against international best practice, positioning Oando as operating to global standards.”

Deal book 300 x 250

[READ MORE: Oando signs 2 gas supply agreement with NLNG)

About ISO 27001

ISO 27001 certification is one of the most widely recognised and internationally accepted information security standards. ISO 27001 certification is the global standard for information security management system, part of the ISO/IEC 27000 family of standards published by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) under the joint ISO and IEC subcommittee.

The certification specifies a management system that is intended to bring information security under management control and gives specific requirements. Organizations that meet the requirements may be certified by an accredited certification body following the successful completion of an audit.

NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

8 Comments

8 Comments

  1. Anonymous

    March 7, 2020 at 7:33 am

    I believe you they should be first to be certified to ISO 27001 in Africa not just Nigeria. Pls validate and update

  2. Anonymous

    March 7, 2020 at 7:35 am

    I believe Oando should be the first in Africa And not just Nigeria to be ISO 27001 certified, the rest mostly do ISO 9001.

    Pls research and update the narrative

    Thank you.

  3. John

    March 7, 2020 at 5:29 pm

    No amount of certification will wash away the criminal acts of the current Oando mgt.

    1. In 2016, Wale withheld Oando Report of over N180 billion loss for more than a year and sold off his share shortly before releasing it.
    2. Most Oando Directors also act as Vendors to Oando, where they charge exorbitant fees.
    3. They fix their salaries without shareholders approval. On average, wale earns over N600 million through his personal companies and salary from Oando.

    If you are a shareholder in Oando, you need to be weary of the current managment.

    • Olatunde Banjoko

      March 8, 2020 at 1:10 am

      We have been shareholders of Oando for almost 8 years until we recently pulled out from the shareholders ‘ ‘dream killer’ to greater and greener sectors/companies.
      The impression we all have about the company is that oando board has a criminal, manipulating and lying tendencies despite the hypes by their heavily paid PR devils
      Their share price which dropped from N96 to N2.97k over 9years is a proof to the fact that they are not not loved by many any more .
      Good riddance to bad rubbish.

  4. Anonymous

    March 7, 2020 at 7:21 pm

    Oando is the best not just Nigeria but Africa in general

  5. Olatunde Banjoko

    March 8, 2020 at 1:11 am

    We have been shareholders of Oando for almost 8 years until we recently pulled out from the shareholders ‘ ‘dream killer’ to greater and greener sectors/companies.
    The impression we all have about the company is that oando board has a criminal, manipulating and lying tendencies despite the hypes by their heavily paid PR devils
    Their share price which dropped from N96 to N2.97k over 9years is a proof to the fact that they are not not loved by many any more .
    Good riddance to bad rubbish.

  6. Amoo James

    March 8, 2020 at 11:41 pm

    Wale Tinubu is a conman, A financial and an Economic fraudster. He single handedly destroyed the future of Oando due to pathological greed.
    He should be cooling of in jail if he had perpetrated 2% of the fraud he committed against shareholders in a sane society.

  7. Anodebenze

    March 9, 2020 at 3:53 pm

    Who said so ?certificate from where ,it is only nm partner as a financial company,will sees something that is a crystal evil and sweet-coat Oando with a certificate from abroad,we shall see,the sec have asked wale tinubu to resign,and I do not know if he is still on his job,we have a Nigerian standard certification authorities and a govt regulating body,who will give certificate now does Dangote have any certificate from anybody of which Dangote is a Nigerian respectful company.nm partner decided to bye-passed the Nigerian regulation authority and gives us a certificate of toilet -roll only fit for us wiping our arse. a certificate from hell in america

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Companies

Nigeria’s border reopening will not impact profitability in 2021 – Flour Mills GMD

Flour Mills Nigeria Plc has stated that the recent reopening of the nation’s land borders will not affect the profitability of the company.

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Mr. Omoboyede Olusanya, the Group Managing Director of Flour Mills Nigeria Plc has disclosed that the recent reopening of the nation’s land borders will not adversely impact the performance and profitability of the company in 2021 and beyond.

He added that FMN will continue to leverage brand loyalty, product standardization and innovation, as well as improved cost efficiency to increase profitability in 2021.

This statement was made by the Olusanya during the company’s 9M’20/21 Investor Webinar which held virtually on January 26, 2020.

According to the statement made by Mr. Olusanya at the virtual meeting, the reopening of the nation’s land border will not affect the company’s sales and revenue, as Flour Mills Nigeria is focused on increasing operational efficiency with accelerated plans for cost optimizations across the group to ensure competitive product offerings and profitability in the new operating environment, occasioned by the border reopening.

He revealed that the company will continue to invest in local content development, production capacity and aggregation to strengthen product innovation and product standardization in a bid to foster brand loyalty.

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In line with this, Flour Mills Nigeria has invested heavily to upscale its Regional Distribution Centers (RDCs), in order to gain direct access to consumer market segments across the country, and expand consumer reach with the road to market initiatives and product offerings across the group, especially in the B2C segment.

Olusanya revealed that the group has successfully opened new regional distribution centers (RDCs) in Kano, Magboro and Abuja targeting the new fast-growing B2C product categories (fats, sugar and garri).

He added that the FMN Group among other strategic investments made, has invested in trucks to support the RDCs, animal feeds and starch value chains; as well as sales force automation platforms to ensure high-quality processes and services.

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He concluded that the activities of the company will be complemented by the efforts of the nation’s border security, as these agents would ensure that the borders do not become porous, and would help to curtail markets from being proliferated by imported items.

What you should know

  • Recall that Nairametrics reported that Flour Mills Nigeria Plc declared a profit of N5.65 billion in the third quarter ended, 31st December 2020.
  • The report revealed that the profit which Flour Mills made in the third quarter of its accounting year 2020/2021 rose by a whopping 150.36% when compared to the profit it made in the corresponding period of 2019.
  • It is important to note that the impressive performance of the company was driven by the agro-allied segment. The Agro-Allied segment benefited immensely from the August 2019 border closure, as the profit from this segment improved by 15,268%.

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Coronavirus

South African President appeals to wealthy countries not to hoard COVID-19 vaccines

South African President, Cyril Ramaphosa has called on the world’s wealthiest countries to stop “hoarding” vaccines.

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South Africa High commission in Nigeria shuts its offices, South Africa announces 21-day lockdown following spike in Coronavirus cases

The South African President, Cyril Ramaphosa has urged the world’s wealthiest countries to stop “hoarding” vaccines and called for an end to “vaccine nationalism.”

He made this call at the World Economic Forum’s virtual Davos Agenda event, where he clearly cautioned that some countries had ordered more supplies of vaccines than they needed, and that this was counterproductive to the global recovery effort.

According to him,

  • “Ending the pandemic worldwide will require greater collaboration on the rollout of vaccines, ensuring that no country is left behind in this effort”
  • “The rich countries of the world went out and acquired large doses of vaccines from the developers and manufacturers of these vaccines, and some countries have even gone beyond and acquired up to four times what their populations need”
  • “That was aimed at hoarding these vaccines and now this is being done to the exclusion of other countries in the world that most need this”

What they are saying

According to Africa CDC Director, John Nkengasong, the African continent is quite facing a “very aggressive second wave” of the pandemic, with mortality increasing on average 18% across the 55 African member states last week.

“We as a continent must recognize that vaccines will not be here when we want them, but as such we need to really focus on the public health measures that we know work”

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He however praised the progress of the African Vaccine Acquisition Task (AVAT) Team, which he said was created when AU nations realized “how the world’s richest countries are behaving.”

What you should know

  • South Africa is the country, worst hit by Covid-19 on the continent.
  • As at date, the country had recorded more than 1.4 million cases with 41,117 deaths.
  • The African Vaccine Acquisition Task (AVAT) Team has secured a provisional 270 million doses for AU member states directly, in addition to the 600 million expected from the World Health Organization’s COVAX initiative.

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Coronavirus

IMF optimistic about global economy but warns new Covid variants could affect recovery

IMF is quite optimistic about the fortune of the global economy but expressed fear that the new Covid variant could derail economic recovery.

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IMF

The International Monetary Fund (IMF) has expressed optimism about the global economy but warns that the new COVID 19 variant could affect the global economic growth, according to its latest World Economic Outlook.

According to the report, “the institution now expects the global economy to grow 5.5% this year — a 0.3 percentage point increase from October’s forecasts. It sees global GDP (gross domestic product) expanding by 4.2% in 2022”.

According to its Chief Economist, Gita Gopinath:

  • “Much now depends on the outcome of this race between a mutating virus and vaccines to end the pandemic, and on the ability of policies to provide effective support until that happens.
  • “There remains tremendous uncertainty and prospects vary greatly across countries.
  • China returned to its pre-pandemic projected level in the fourth quarter of 2020, ahead of all large economies. The United States is projected to surpass its pre-Covid levels this year, well ahead of the euro area.
  • “Policy actions should ensure effective support until the recovery is firmly underway, with an emphasis on advancing key imperatives of raising potential output, ensuring participatory growth that benefits all, and accelerating the transition to lower carbon dependence.”

What you should know

  • There has been a surge in the number of reported cases of the new variant Covid-19 infections and deaths over the past few months.
  • The new variant has been described as being more infectious and potentially deadlier than the original strain.
  • The IMF had cut its GDP forecasts for the euro zone this year by 1%.
  • It is being projected that the 19-member region, which has been severely hit by the pandemic, would grow by 4.2% this year.
  • Germany, France, Italy and Spain — the four largest economies in the euro zone — also saw their growth expectations cut for 2021.
  • Economic activity in the region slowed in the final quarter of 2020 and this is expected to continue into the first part of 2021. The IMF does not expect the euro area economy to return to end-of-2019 levels before the end of 2022.
  • IMF revised its GDP forecast upward by 2% points on the back of a strong momentum in the second part of 2020 and additional fiscal support, with GDP expected to grow to 5.1% this year.

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