Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Oando’s shareholders have taken up the National Assembly’s invitation

Onome Ohwovoriole by Onome Ohwovoriole
October 1, 2017
in Business News, Company News
Oando Plc CEO Tinubu speaks during a Reuters interview in Lagos

Wale Tinubu, CEO, Oando Plc

Share on FacebookShare on TwitterShare on Linkedin

Shareholders in Oando Plc have taken up the opportunity provided by the National Assembly to send in petitions related to the state of affairs in the company, as they have sent a petition to the body. Shareholders of the company based in the North, also held a protest in Abuja over the state of affairs of the company. The petition signed by 100 shareholders called for the removal of Oando Plc’s management for alleged gross misconduct and corporate governance abuse.

What led to the petition submitted?

The committee had last week summoned the Director-General of SEC Munir Gwarzo over petitions from aggrieved shareholders. Shareholders had recently protested after the recently held Annual General Meeting (AGM) where a vote of confidence was passed on Oando’s management. The House of Representatives Committee on Capital Market and Institutions gave SEC a two week deadline to complete its investigations on Oando Plc, and report its findings. The committee also stated that shareholders whose cases are not covered in the petitions currently being investigated by SEC, to forward theirs to the committee.

RelatedPosts

Higher crude oil prices boost Nigeria’s Oil and Gas stocks

Court Order: Oando to consider delisting from the Nigerian Exchange Group

News had broken in July, that SEC was investigating two petitions levelled against the company, but Oando Plc refused to name the parties involved. After much pressure, the company named Alhaji Dahiru Mangal  and Ansbury Investments (a company controlled by Gabriel Volpi) as the petitioners.

The two parties have alleged that the company has been mismanaged, and had requested SEC to suspend the AGM. Volpi and Mangal, also accused the company of not granting them adequate representation on the board despite their large shareholding. The company, has denied the allegations and accused the petitioners of having ulterior motives to take over the company.

News continues after this ad


Implications of the fresh petition

The lawmakers could decide to hold a public hearing on the matter, if they are not satisfied with the results of SEC’s investigation. Oando shares closed at on Friday’s trading session on the Nigerian Stock Exchange, up 0.1%.

Related

Tags: News ReviewOando PlcSEC Investigates Oando Plc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Ardova denies facing winding up order over Prudent Energy alleged debt to Zenon
    • Buhari disburses N100 billion loan to indigenous pharmaceutical firms
    • Dangote Cement shareholders lose N409 billion on sell pressure

    Follow us on social media:

    Recent News

    Covid-19: Ardova donates solar energy systems to Lagos and Abuja

    Ardova denies facing winding up order over Prudent Energy alleged debt to Zenon

    August 9, 2022
    Buhari disburses N100 billion loan to indigenous pharmaceutical firms

    Buhari disburses N100 billion loan to indigenous pharmaceutical firms

    August 9, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com