OANDO SHAREHOLDERS PETITION NATIONAL ASSEMBLY OVER CORPORATE GOVERNANCE ABUSE AND MISMANAGEMENT IN THE COMPANY

BY MARK ITSIBOR, Abuja Over 100 shareholders of Oando Plc have written a petition to the National Assembly alleging corporate governance abuse, mismanagement and gross misconduct in the oil firm. The petition that was addressed to the Chairman, House Committee on Capital Market and Institutions, was signed by the 100 aggrieved shareholders with a demand that the management of the company be removed. This is as shareholder groups across Northern Nigeria held a mass protest in Asokoro area calling on regulators to protect the interest of the shareholders and save…

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COURT FIXES ABUJA PROPHET GRAHAM JACOBS’ FORGERY AND IMPERSONATION TRIAL FOR 10TH OCTOBER

The trial of Abuja based, self- proclaimed prophet, Graham Jacobs for forgery and impersonation could not continue as scheduled yesterday because a new prosecutor appeared for the case. Abujareporters gathered that given the sensitive nature of the case, and the need for diligent prosecution, the Police decided to send in one of its best and most experienced prosecutors to handle the case. The case which is being handled by Chief Magistrate Chinyere at Abuja magistrate court in Wuse Zone 6 has now been slated for hearing on 10th October 2017.…

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REPS INVITE SEC DG OVER MANAGEMENT CRISIS ROCKING OANDO PLC

The House of Representatives Committee on Capital Market and Institutions has summoned the Director General of Securities and Exchange Commission (SEC), Mallam Mounir Gwarzo to appear before it and clear the air over the management crisis rocking Oando PLC. A group of shareholders had on Saturday stormed the Annual General Meeting of Oando Plc venue in Uyo, Akwa-Ibom state with placards demanding the resignation of the company’s Group Chief Executive Officer, Mr. Wale Tinubu over alleged gross abuse of corporate governance and financial mismanagement. The Committee in a statement on…

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