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    Business Skye Bank Takes Over Olugbo of Ugboland's Obat Oil

    Skye Bank Plc has taken over control of the assets of Obat Oil in Apapa Business District of Lagos State on Friday. Obat Oil is owned by flamboyant business magnate and Olugbo of Ugboland in Ondo State, Oba Fredrick Obateru-Akinruntan. This follows an October 28, 2016 ruling of a Federal High...
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    Business EFCC Shuts Obat Oil’s Tank Farm Over Diversion of N1.2bn Subsidy Fund

    The Economic and Financial Crimes Commission (EFCC), yesterday, shut down a tank farm belonging to Obat Oil and Petroleum Limited at Kirikiri, Lagos, for alleged diversion of subsidy payment. Petrocam Trading Nigeria Limited had reported Obat Oil to EFCC for allegedly diverting N1.2 billion...
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