The men of 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.
Tribune
No comments:
Post a Comment