Oando posts N315.4b revenue
Oando Plc has announced its financial results for the six months ended, June 30, 2019, with a profit-after-tax (PAT) of N7.2 billion.
Oando gets court’s nod for judicial review of SEC N89.7m fine
The Federal High Court, Lagos, has granted leave to Oando Plc to file a motion for a judicial review of the Securities and Exchange Commission’s (SEC) decision imposing a fine of N89, 675,000 on it.
Oando, SEC tussle drags stock market’s indices by 2.05 per cent
The nation’s equity market closed trading on a volatile note last week, consolidating three consecutive sessions of losses after the two-day public holiday for Eid Mubarak.
Court halts sacking of Tinubu, Boyo as Oando directors
A federal High Court, Lagos has restrained the Security and Exchange Commission (SEC) from taking any step concerning its imposition of a fine of N91,125,000.00 on the Group Chief Executive Officer of Oando Plc, Mr. Wale Tinubu, and barring him and his deputy, Mr. Omamofe Boyo, from being directors of public companies for a period of five years.
Oando denies management team replacement
Oando Plc Monday said its management and board of directors remained unchanged, hours after Securities and Exchange Commission said it has set up an interim management team for the oil firm. "Oando’s Management Team and Board of Directors have not changed," the company tweeted on Monday. The interim management team will be headed by Mutiu…
SEC sets up interim management team in Oando
The Securities and Exchange Commission (SEC) has set up an interim management team in Oando Plc, headed by Mr Mutiu Olaniyi Adio Sunmonu, the Commission's spokesperson Efe Ebelo said. Sunmonu will oversee the affairs of Oando Plc, and conduct an Extra Ordinary General Meeting on or before July 1, 2019, to appoint new directors to the…
Shareholders insist SEC has powers to hire, fire board of listed firms
Capital market shareholders have unanimously agreed that the Securities and Exchange Commission (SEC) has the over-riding powers to hire and fire board members of listed companies involved in any form of market infractions ....
SEC's claims against Wale Tinubu 'unsubstantiated', Oando says
Nigeria’s Securities and Exchange Commission’s claims that the group chief executive officer of Oando Plc Wale Tinubu, his deputy Omamofe Boyo and the oil firm were involved in dubious activities cannot be substantiated, an official of the oil company Oando said late on Friday. "Oando is of the view that these alleged infractions and penalties…
Oando to challenge SEC’s ruling on forensic audit
Oando Plc said on Friday that it would challenge the Securities and Exchange Commission (SEC) ruling on the outcome of its forensic audit.
MTN pays N55b ahead of deadline, completes N330b infraction fine payment
Following investigations on alleged gross mismanagement and abuse of corporate governance leveled against the management of Oando Plc in 2017, the Securities and Exchange Commission, (SEC) yesterday, barred the Group Chief Executive Officer (GCEO), Wale Tinubu and the Deputy GCEO of the company from being directors of public firms for a period of five years.…
Oando's Wale Tinubu, deputy handed five-year ban by SEC
Nigeria's Securities and Exchange Commission Friday said it has barred the group chief executive officer of Oando Plc Wale Tinubu and his deputy Omemofe Boyo from being appointed directors of public companies for a period of five years. The commission said the duo and the oil company committed, among other infractions, "false disclosure" and "misstatements…