Men of the Nigeria Police, on Monday, sealed off the head office of Oando Plc.
Although no reason has been advanced by the police for its action, this is coming on the heels of the sacking of the management and board of the company by the Securities and Exchange Commission on Friday and the appointment of an interim management team led by Mr Mutiu Sunmonu, former Managing Director of Shell Petroleum Development Company.
Sunmonu’s team will be in charge of the company pending the constitution of a new management team.
SEC has also ordered the conduct of an Extra Ordinary General Meeting on or before July 1, 2019 to appoint new directors for the indigenous oil company.
While announcing the sack of the company’s management and board last Friday, SEC had said the result of the forensic audit carried out on the company over a year ago revealed serious infractions by the company.
It then directed the resignation of the company’s board and management. It also placed a five-year ban on the Group Managing Director, Mr Wale Tinubu, and the Deputy Group Managing Director, Mr Omamofe Boyo, from serving as director in any public-qouted company. of any company.
It’s certainly a dynamic time in the economic world, isn’t it? With all the ups…
By Omabuwa Mene-Ejegi Climate change has evolved into an urgent global emergency, with rising temperatures…
I recently clocked 70 years of age and will like to know the best way…
I was going to write this piece last week. As I started writing, it became…
I have been having problems with my knees for the past 2 months. Kindly let…
The feverish defection of politicians and their supporters from one political party to another, mostly…
This website uses cookies.