Oando Plc has challenged the firing of its Group Chief Executive Officer, Wale Tinubu, and his deputy, Moyo Boyo, by the Securities and Exchange Commission.
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This followed the conclusion of investigation into two petitions against the oil company
Adewale Tinubu, Managing Director, Oando Plc, on Friday expressed optimism that the company would likely pay dividend in the current financial year following impressive 2019 first quarter result.
In a July 6 ruling, the LCIA held that Ocean and Oil Development Partners, British Virgin Islands, which owns 55.96 per cent of Oando Plc through a holding company, Ocean and Oil Development Partners Nigeria Limited, is owing Ansbury Investments Incorporated $600 million (N216 billion).
Adewale Tinubu, the Group Chief Executive of Oando Plc, will once again reinforce the growth and strength of oil independents at the ongoing 7th Organisation of Petroleum Exporting Countries International Seminar, with the theme: “Petroleum – Cooperation for a Sustainable Future,” in Vienna, Austria
The acting Director-General, SEC, Dr Abdul Zubair, explained to newsmen in Abuja why it directed the Nigerian Stock Exchange to lift the technical suspension placed on the shares of Oando Plc.
The News Agency of Nigeria reports that trading commenced on the shares of the company at the capital market on Thursday, following a directive by the Securities and Exchange Commission.
According to the minister, the new multi-billion naira office complex called “The Wings” in Victoria Island, Lagos, is a huge investment made by an indigenous company in the oil and gas industry.
Oando had filed a lawsuit against the SEC to halt the regulator’s suspension of the company’s shares and the planned audit, based on concerns about possible insider trading
Fajemite had taken to the Twitter handle of Oando to ask how many retweets it will take to get him employed
Ayotola Jagun, Oando Chief Compliance Officer & Company Secretary said that the Emir of Kano, Muhammadu Sanusi II, waded into the crises between the company and Alhaji Dahiru Mangal.
The News Agency of Nigeria reports that many motorists and travellers had been groaning in pains in the last few days over the persistent fuel scarcity across the country.
A letter obtained by the News Agency of Nigeria on Tuesday in Abuja showed that SEC had written to the Group Chief Executive Officer of Oando, Adewale Tinubu, notifying him of its decision to conduct a forensic exercise into the activities of Oando Plc
The company’s Head, Corporate Affairs, Alero Balogun, said on Tuesday that the ex-parte order was obtained on October 23
This is coming a day after the Nigerian Stock Exchange suspended the shares of Oando
A statement by the management of the commission on Wednesday said the company would be suspended due to several complaints against it by shareholders in the capital market
After the meeting, the Deputy Chairman of the House Committee, Hon. Tony Nwulu, told journalists that the Reps gave SEC a two-week ultimatum to close out its investigations on Oando and report back to it.
The shareholders first converged on the premises of the Nigeria Union of Journalists, Iyaganku, Ibadan, from where they proceeded to the Nigeria Stock Exchange office at Dugbe Business District of the city.
Uwujaren identified the marketers as: Conoil Plc, Total Plc, OVH Energy Plc, Oando Plc, Forte Oil and Gas Plc, Mobil Plc, MRS Oil Plc, and NIPCO Oil Plc.
The News Agency of Nigeria reports that Captain Muhtar Usman, the Director General, NCAA, presented the certificate to the Oando