By Tordue Salem – Abuja The House of Representatives Committee on Petroleum Upstream has invited the Group Managing Director of Nigeria National Petroleum Corporation, NNPC, Mr. Mele Kyari, heads of Nigeria Agip Oil Company and OANDO over allegations of N13billion owed to Decoon Engineering Company and allegations of involvement in contracts’ fraud. The companies are […]

In line with their long term goal of ending hunger and alleviating poverty across the nation,  employees of Oando, popularly known as the #HumansOfOando, through The Aggregator Platform (TAP), has raised over N25 million to feed more than 24,000 Lagosians across 16 of the most deprived communities over a one month period.

The employees of Oando under the name tagged #HumansOfOando have identified that despite the financial contributions and efforts made by the public and private sector as well as Non-Governmental Agencies (NGOs) in feeding the less privileged as a result of the coronavirus, Covid-19 pandemic there is still a huge gap between those who are in dire need and those who are eventually reached and fed.

Experts have  harped on the need for Nigeria to improve on its infrastructural facilities to enable the country reap the benefits of  African Continental Free Trade Area Agreement, AFCTA .

The Nigerian Stock Exchange, NSE, yesterday, announced the re-classification of Oando Plc from medium-priced stock to low-priced stock.

A recent article in This Day newspaper by Efe Etomi and Elivis Asia, questions the powers of the Securities and Exchange Commission (SEC), to suspend the Annual General Meeting of Oando Plc, in a bid to sanction the company for alleged infractions. They conclude that such application of institutional powers may prove to be repulsive and toxic, to investment inflow in Nigeria.

The Securities & Exchange Commission (SEC) and Oando saga are generating commentary from all quarters.  There have been appeals for SEC to follow due process in the Oando case from groups as divergent as minority shareholder groups to NGOs to the Institute of Directors and even reputable voices such as Atedo Peterside.  The international community has been drawn into the fray with the US – Nigeria Trade Council (UNSC) echoing the same tune, but this time the same message.

SOME  aggrieved shareholders in the case between the Securities and Exchange Commission, SEC and Oando PLC have expressed their grievances against the SEC, specifically faulting the recent actions of the regulatory body against Oando PLC.

Shareholders of Oando Plc yesterday slammed the Securities and Exchange Commission, SEC, over the suspension of the company’s 2018 Annual General Meeting, AGM, barely 24 hours to the meeting.

The Securities and Exchange Commission (SEC) has suspended, till further notice,  Oando Plc’s Annual General Meeting (AGM) scheduled to hold on Tuesday.

The Securities and Exchange Commission (SEC), on Sunday, said that Oando Plc was given sufficient opportunity of being heard before they were penalised.

The Securities and Exchange Commission (SEC) on Sunday said that Oando Plc was given sufficient opportunity of being heard before they were penalised.

There seems to be fresh controversy over the takeover of Oando Plc following disagreements amongst investment experts over yesterday’s appreciation in the share price of the company on the Nigerian Stock Exchange, NSE.

Operators in the capital market and shareholders have called on Securities and Exchange Commission, SEC, and Nigerian Stock Exchange, NSE, to place the shares of Oando Plc on technical suspension to protect minority shareholders of the company, which share price has fallen by over 20 per cent in the past two trading days.

The Federal High Court has restrained the Securities and Exchange Commission (SEC) from removing Messrs Wale Tinibu and Omamofe Boyo as Oando Plc’s Group Chief Executive  Officer (GCEO) and Deputy Group Chief Executive  Officer (DGCEO), respectively.