Counsel to the Securities and Exchange Commission, Chief Anthony Idigbe (SAN), on Monday opposed an application seeking to join Oando Plc in a suit filed its sacked Group Chief Executive Officer, Adewale Tinubu, and his deputy, who is also sacked, Omamofe Boyo.
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The Securities and Exchange Commission on Sunday said that Oando Plc was given sufficient opportunity of being heard before they were penalised.
Capital market operators on Wednesday called for urgent intervention of the Federal Government in the conflict between the Securities and Exchange Commission and Oando Plc.
The Federal High Court has restrained the Securities and Exchange Commission from removing Messrs Wale Tinibu and Omamofe Boyo as Oando Plc’s Group Chief Executive Officer and Deputy Group Chief Executive Officer, respectively.
This followed the conclusion of investigation into two petitions against the oil company
The company said the calculated misinformation arose from a press release issued by the lawyer and legal counsel of Ansbury Investment Inc, Adrea Moja, following the LCIA’s ruling in London
This was disclosed in Abuja on Thursday during the inauguration of the Okpai Phase II power project by the Group Managing Director of the NNPC, Dr. Maikanti Kacalla Baru