General News
Savannah Energy Announces Completion of ExxonMobil Transaction in Chad, Cameroon

Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce the completion of its acquisition of ExxonMobil’s entire upstream and midstream asset portfolio in Chad and Cameroon, including operatorship of the upstream assets (through the acquisition of the former operator, Esso Exploration and Production Chad, Inc.) (the “ExxonMobil Transaction”).

Savannah is also pleased to announce the publication of a Supplemental Admission Document (the “Document”) in relation to the ExxonMobil Transaction.
This announcement follows Savannah’s 13 December 2021 announcement of the signing of a Share Purchase Agreement (“SPA”) with ExxonMobil, which has an economic effective date of 1 January 2021, and the publication of its 31 December 2021 Admission Document containing details on, inter alia, the ExxonMobil Transaction.
The ExxonMobil Transaction constituted a reverse takeover transaction pursuant to AIM Rule 14 and, accordingly, was subject to, inter alia, shareholder approval which was granted on 24 January 2022. The ExxonMobil Transaction has now been completed.
Re-admission of the share capital of the group as enlarged by the ExxonMobil Transaction is scheduled to take place at 8.00 a.m. on 13 December 2022.
Transaction Highlights
Following the completion of the ExxonMobil Transaction, Savannah now owns a 40% interest in the Doba Oil Project and an effective c. 40% indirect interest in the Chad-Cameroon export transportation system:
The Doba Oil Project comprises interests in seven producing fields – Kome, Miandoum, Bolobo, Moundouli, Maikeri, Nya and Timbre – with a combined gross 2P Reserve base of 142.3 MMbbls as at 1 October 2022 and expected 2022 gross production of 28.0 Kbopd; and
The Chad-Cameroon export transportation system comprises a 1,081 km pipeline and the Kome Kribi 1 floating storage and offloading facility, offshore Cameroon (along with all associated facilities).
The Chad/Cameroon pipeline is 30” in diameter with a nameplate capacity of 250 Kbopd and an estimated pipeline throughput in 2022 of 124 Kbopd, from more than 15 fields;
The Company’s proposed acquisition of PETRONAS (E&P) Overseas Ventures SDN. BHD.’s interests in the same assets in Chad and Cameroon is not a condition of the ExxonMobil Transaction.
Andrew Knott, CEO of Savannah Energy, said: “We are delighted to announce the completion of our US$407 million acquisition of ExxonMobil’s upstream and midstream businesses in Chad and Cameroon.
I would like to warmly welcome our new employees to the Savannah family and look forward to building our in-country businesses with them as we embrace the multiple growth opportunities available to us.
In Chad, our focus will immediately turn towards making the investments we believe the Doba Oil Project needs to significantly increase production volumes from current levels and the advancement of our up to US$500m/500 MW of renewable power projects.
We expect our investments in these projects to provide significant increased tax revenues and electricity access for the people of Chad. In Cameroon, we hope to see the COTCo and TOTCo businesses grow further over the course of the coming years through additional third-party customer throughput volumes. We are also actively considering investments in other opportunities to pursue Projects that Matter in country.
Outside of Chad and Cameroon, we expect that, in the coming months, we will further augment our corporate growth profile through the announcement of additional hydrocarbon asset acquisitions and the initiation of new utility-scale renewable energy projects (in addition to our existing up to 750MW project pipeline).
Lastly, I would like to the opportunity to express my gratitude to all those who contributed to the successful completion of this transaction and, in particular, our host country stakeholders, my incredibly dedicated and passionate colleagues and the ExxonMobil deal and in-country teams. Thank you all.”
Re-Admission and Total Voting Rights
The Company’s issued share capital currently comprises 1,306,098,819 ordinary shares. Application has been made to the London Stock Exchange plc for re-admission of the Company’s 1,306,098,819 ordinary shares to trading on AIM, which is expected to take place at 8.00 a.m. on 13 December 2022.
As the Company does not hold any shares in treasury, this figure of 1,306,098,819 Ordinary Shares may continue to be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Board Appointments
Further to the Company’s announcement of 7 June 2022, the Company is pleased to announce that the proposed appointments of Sarah Clark and Dr Djamila Ferdjani as Non-Executive Directors of the Board will become effective on completion of the ExxonMobil Transaction. The appointment of Sylvie Rucar has been delayed due to personal reasons and is now anticipated to become effective during early 2023.
Sarah Clark
Sarah was an elite level athlete for 18 years and is a former British, European and Commonwealth champion in the sport of judo, who competed at three Olympic Games for Great Britain. She is currently CEO of Edinburgh, Judo one of the UK’s largest, most successful and fastest growing judo clubs catering for beginners to Olympic medallists. Sarah currently serves as a Non-Executive Director of JudoScotland (the governing body for judo in Scotland).
Sarah has worked extensively in mentor, role model and leadership positions with organisations such as the Dame Kelly Holmes Trust, the Youth Sport Trust and the Winning Scotland Foundation. In these roles, her focus has been to deliver personal and group development programmes to young people from disadvantaged backgrounds and communities. She has also worked extensively with individuals and companies delivering programmes around the positive learnings businesses can take from the elite level sport world.
Dr Djamila Ferdjani
Dr Ferdjani is a medical doctor, entrepreneur and social activist. She founded the Pro-Santé Polyclinic in Niger, of which she was President and CEO. Djamila formerly served as a technical consultant to the Islamic Development Bank and as a Professor of Health Prevention and Promotion at the African Development University.
She is a founding Board member of Afrikajom (the leading Pan African human rights focused think tank) and is the founder and President of MedCom NGO (a Niger focused medical and educational NGO). She is a former a member of the executive committee of the Orange Niger Foundation.
She regularly speaks at African focused Human Rights events, including those organised by the World Bank, Oxfam, Plan International, the G5 Sahel, The Open Society Initiative for West Africa, the National Democratic Institute and TEDx. Dr Ferdjani has been named by the United Nations Population Fund as one of the 100 women leaders in Niger and by Facebook as one of 19 African LeadHERs breaking boundaries in the fields of media, entertainment, education and business.
General News
Court Freezes MCSN Copyright Levies amid Record Label Legal Battle

Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos, has issued an interim Mareva injunction freezing copyright levy funds due to the Musical Copyright Society of Nigeria (MCSN).

The order prevents the Central Bank of Nigeria (CBN) and at least 20 commercial banks from disbursing these funds until further court proceedings.
The injunction stems from Suit No. FHC/L/CS/207/2026, following an ex parte application filed on February 5, 2026, by the Record Label Proprietors’ Initiative on behalf of 11 major record labels and music companies.
Plaintiffs include industry heavyweights such as Mavin Records, Davido Music Worldwide, Chocolate City Music, Universal Music Group, Sony Music Africa, and Warner Music South Africa.
The plaintiffs, through their attorney, sought to restrain the CBN from releasing any copyright levy funds related to sound recordings earmarked for MCSN.
They also asked the court to bar MCSN and its agents from accessing, transferring, or using the funds, whether received directly from the CBN or routed through commercial banks.
General News
NITDA, HORSA Empower Lawmakers’ Spouses with Digital Skill

The National Information Technology Development Agency (NITDA), in partnership with the House of Representatives Spouses Association (HORSA), organized a specialized two‑day digital literacy and capacity‑building workshop for the spouses of members of the House of Representatives.

The initiative, themed “Empowering Women for a Digital Future: Leadership, Wellbeing, and Opportunity,” is designed to equip spouses of lawmakers with the tools needed to navigate the modern digital economy and the unique demands of public life.
Moving beyond basic computer literacy, the workshop offers a comprehensive suite of skills, including financial and digital literacy—focused on using digital tools for business growth and personal finance management; cybersecurity and digital wellbeing—promoting online safety, data protection, and mental health resilience; and economic empowerment—unlocking opportunities in remote work, Business Process Outsourcing (BPO), and digital entrepreneurship.
Declaring the workshop open on behalf of the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, PhD, the Deputy Speaker, Rt. Hon. Benjamin Okezie Kalu, said the workshop underscores the crucial role spouses play in supporting public office holders. He described spouses as trusted advisers whose understanding of legislative responsibilities helps lawmakers perform more effectively.
He noted that the demanding nature of legislative work often places strain on family life, adding that empowering spouses with digital and leadership skills would strengthen their capacity to provide informed support and constructive feedback to their partners in public service. He urged participants to take full advantage of the training, stressing that continuous learning is essential in an increasingly digital world.
Kalu further observed that many spouses already lead humanitarian and development initiatives in their communities, and that the skills gained from the programme would enhance communication, strategic planning, and resource mobilisation, thereby deepening their contribution to community development and national growth.
In his welcome address, the NITDA Director‑General, Kashifu Inuwa, said the initiative aligns with the Federal Government’s drive to build a sustainable digital economy by ensuring that no group is excluded from digital opportunities due to skills gaps. He noted that the Renewed Hope Agenda of Bola Ahmed Tinubu places digitalisation and innovation at the heart of economic diversification and inclusive growth.
He added that NITDA is implementing a national digital literacy framework aimed at achieving 95 per cent digital literacy by 2030, driven through three key focus areas: integrating digital skills into formal education, upskilling public servants, and expanding community‑level digital inclusion.
Inuwa described women as critical drivers of Nigeria’s digital transformation, noting that empowering spouses of lawmakers with digital skills would strengthen leadership at home and positively influence legislative processes at the National Assembly. He explained that NITDA is working with the Ministry of Education and global technology partners to train teachers nationwide, while over 54,000 public servants are currently enrolled in the Agency’s digital literacy programmes.
He also stated that through community champions deployed across the 36 states and the Federal Capital Territory, millions of Nigerians are being reached annually with basic digital skills training, stressing that national leaders must not be left behind in Nigeria’s digital transition. According to him, digitally literate spouses can play a vital role in encouraging technology‑driven governance, including ongoing efforts to digitise legislative processes.
In her goodwill message, the Leader of HORSA and wife of the Speaker, House of Representatives, Hajiya Fatima Tajudeen Abbas, described the workshop as a historic milestone and the first comprehensive capacity‑building programme organised by the 10th Assembly for spouses of lawmakers. She noted that public life in a digital age now extends beyond physical spaces into online platforms, making digital and financial literacy, cyber protection, and digital wellbeing essential skills for spouses of national leaders.
Hajiya Abbas emphasised that the sessions on mental health, emotional resilience, entrepreneurship, and leadership were timely, as spouses of public office holders often shoulder invisible emotional responsibilities. According to her, empowering women economically strengthens families and communities, adding that the knowledge gained from the workshop would not only support lawmakers behind the scenes but also enable women to contribute more meaningfully to national development in the digital economy.
The event also featured goodwill messages and contributions from senior government officials, including the Chief of Staff to the President, Hon. Femi Gbajabiamila; the Honourable Minister of Women Affairs and Social Development, Hon. Imaan Sulaiman Ibrahim; the Chairperson of the Nigeria Governors’ Spouses’ Forum, Prof. (Mrs.) Olufolake Abdulrazaq; the Chairman of the House Committee on ICT, Hon. Stanley Olajide; the Chairperson of the House Committee on Women Affairs and Social Development, Hon. Kafilat Ogbara; and the Managing Director of the South-South Development Commission, Usoro Offiong Akpabio.
General News
PalmPay Unveils First Batch of Winners in #LoveWithPalmPay Campaign

PalmPay is thrilled to announce the first set of winners of its highly anticipated Valentine-themed #LoveWithPalmPay campaign, following a week of receiving entries from users across the country, celebrating their real love stories shaped by simple money moments.

The #LoveWithPalmPay, a two-week campaign which started on the 9th of February until the 21st of February, has unveiled the first set of four (4) couples who shared their heartfelt stories of how PalmPay has positively impacted their relationships, from seamless transfers and bill payments to shared savings goals, dates, and everyday financial support.
The first batch of selected winners are:
- Abdulsalam Aishat Omowumi ( Facebook)
- Symply Omotoshan (Instagram)
- Unusual_aaron (Tiktok)
- MTN_DATA_VENDOR (X)
Speaking on the campaign, Olorunfemi Hanson, the Head of Marketing of PalmPay, stated, “We are using the campaign to appreciate our over 35 million users and the many ways they use the PalmPay app to make life seamless. The four (4) couples, each rewarded with ₦100,000, were chosen based on how effectively they highlighted PalmPay’s features and demonstrated how the platform helped their everyday payments be reliable and seamless.
PalmPay noted that with the campaign still ongoing, four (4) more couples will be announced in the coming days, encouraging more users to continue sharing their love stories using the hashtag #LoveWithPalmPay on PalmPay’s social media platforms.
The campaign reinforces PalmPay’s commitment to creating financial solutions that not only simplify transactions but also bring people closer through meaningful, everyday money moments.
PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.
PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.
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