Oando PLC provided earnings guidance for the second quarter ended June 30, 2016. For the quarter, the company expects to report materially lower earnings due to the impact of the Naira devaluation against the USD, resulting in unrealized foreign exchange losses. The impact of the Naira devaluation by the Central Bank of Nigeria is expected to amount to an unrealized foreign exchange loss arising from USD denominated liabilities, outstanding bank trade facilities as well as vendor payables.