Oando heads to Appeal Court, petitions Presidency, NASS over suspension of shares, forensic audit

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By Babajide Komolafe

Oando Plc has petitioned the Presidency and National Assembly over the technical suspension of its shares and a forensic audit into its affairs by the Securities and Exchange Commission (SEC), insisting the commission is biased and has not follow due process.

Meanwhile, Oando has approached the Court of Appeal challenging SEC’s sanctions specifically the technical suspension of its shares and a forensic audit into the affairs of the Company.

Oando

Chief Compliance Officer and Company Secretary for Oando, Ayotola Jagun disclosed these in a press statement, saying: “In addition to legal action it has written several petitions to various arms of the government expressing concern at the way the SEC under the leadership of ex-Director General, Mounir Gwarzo, managed the investigation and believe that the investigation was biased, did not follow due process and…



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