Oando Takes Over Arisekola Alao’s Lister Oil, To Retain Only 5% Of Work Force!

Ocean and Oil (Oando) Plc, with messrs Wale Tinubu, Mofe Boyo and Jite Okoloko as promoters has taken over the affairs Lister Oil owned by celebrated religious leader, Aare Arisekola Alao.

Sources explained the arrangement being fine tuned will now see the management of Oando plc administering all ‘facilities and structures’ formerly utilised by Lister Oil.

According to a source ‘Oando has absorb Lister Oil and everything owned by the latter will now operate under the identity Oando’

Sources confirmed all petrol stations, tank farms and others formerly known as Lister now bear the name Oando- the change is being effected.

Further investigations conducted by societynowng.com revealed that the take over is based on ‘a long term lease agreement’

Insiders tagged it ‘a highly lucrative deal for the Ibadan billionaire owner of Lister Oil’

It is believed the revered islamic leader made the deal to cushion the effect of a recently gone bad business deal trailed to the machinations of fellow billionaire, Otunba Mike Adenuga.

Informants however confirmed to societynowng.com that while Aare Arisekola is happy with the transaction- workers at his Lister Oil are apprehensive.

The terms of agreement in the take over allows Oando to retain of 5% of the entire work force of Lister Oil.

The rest face the threat of unemployment.

There are however talks that as part of moves to alleviate a looming bad situation- Aare Arisekola has requested those surplus to the requirement of Oando to report at his flower company for employment consideration.

‘It is not clear whether all the 90% surplus will be employed’ a source divulged.

Spokesperson for Oando Mr Odion and media person for Aare Arisekola Alao did not respond to enquiry on the matter.