Markets

SEC disregard court order, armed personnel remain in Oando HQ

The Securities and Exchange Commission in a brazen show of high handedness and a total disregard for the Nigerian justice system which they are sworn to uphold, has disregarded the directives of the Federal High Court, Lagos to suspend the implementation of sanctions against Oando PLC.
Nigeria’s Permanent Representative to the United Nations, Amb. Tijjani Muhammad-Bande, has emerged President of the 74th UN General Assembly.

UN chief pledges support for UNGA’s president-elect

UN Secretary-General António Guterres on Tuesday assured the President-elect of the 74th UN General Assembly, Amb. Tijani Mohammad-Bande, of his support to actualise his vision.

Oando saga: Operators seek federal government intervention, laud SEC’s audit outcome

Capital market operators on Wednesday called for urgent intervention of the Federal Government in the conflict between the Securities and Exchange Commission (SEC) and Oando Plc.

NCC: Glo, 9Mobile set to list on Stock Exchange

With the enlisting of the leading mobile operator in the country on the Nigeria Stock Exchange, the Nigerian Communications Commission, NCC, says other operators including Bharti Airtel, Globacom and 9Mobile are getting set to do so.
Nigeria’s Securities and Exchange Commission’s claims that the group chief executive officer of Oando Plc, Wale Tinubu, his deputy Omamofe Boyo and the oil firm were involved in dubious activities cannot be substantiated

Oando: Court restrains SEC from removing Wale Tinubu, Omamofe Boyo

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

Oando: We’re not aware of appointment of interim management team by SEC

Oando Plc on Monday said that it had yet to receive any letter from the Securities and Exchange Commission (SEC) on the appointment of its interim management team.

Oando chiefs secure federal court injunction restraining SEC

The Federal High Court in Lagos has granted the Group Chief Executive, Oando, Wale Tinubu and his deputy, Omamofe Boyo, an injunction restraining the SEC from executing the sanctions in the letter to Oando dated the 31st of May, 2019.

Oando management set to challenge SEC over board dissolution

Fireworks on the controversy over corporate governance issues in Oando Plc may begin today as the management of the company is set to contest the veracity of the sack of its directors by the Securities and Exchange Commission, SEC, last weekend.

Workers shut SEC over attempts to reinstate suspended chief

The battle for the headship of the Securities and Exchange Commission (SEC) got fiercer Monday morning as the Association of Senior Civil Servants of Nigeria, SEC Branch, locked up offices of the headquarters of the Commission over attempts by suspended DG Mounir Gwarzo to resume duties.

SEC’s appointment of Mutiu Sunmonu as Oando interim chief lacks due process

The announcement by the Securities and Exchange Commission (SEC) on Sunday June 2, 2019, on the alleged appointment of Mr. Mutiu Olaniyi Adio Sunmonu, CON, to head an Interim Management Team at Oando may have been executed without recourse to due process.

Oando demands forensic audit report, rules out directors’ resignation

Oando Plc has demanded from the Securities and Exchange Commission the report of the forensic audit carried out by Deloitte & Touche for it to have a better understanding of the findings that culminated in the decisions taken by the commission.

Oando forensic audit report: Why isn’t SEC following due process?

The long awaited results from the forensic audit into Oando PLC, was finally released on Friday, May 31, 2019 on the website of the Securities and Exchange Commission (SEC) indicating weighty infractions with attendant sanctions leveled against the Company.

Operators applaud judgment on Mounir Gwarzo reinstatement, task federal government

Some capital market operators on Saturday applauded the industrial court judgment on the reinstatement Malam Mounir Gwarzo as the Director-General of the Securities and Exchange Commission (SEC).

Oando vows to challenge SEC’s ruling on Wale Tinubu

Oando Plc said on Friday that it would challenge the Securities and Exchange Commission (SEC) ruling on the outcome of its forensic audit.
Nigerian Stock Exchange NSE

Profit taking: NSE market indices decline by 0.17 percent

The crucial market indices of the Nigerian Stock Exchange (NSE) dropped by 0.17 per cent on Thursday after the work-free day to mark the May 29 inauguration date.

Court orders reinstatement of suspended SEC chief Mounir Gwarzo

The National Industrial Court, Abuja, on Thursday ordered the immediate reinstatement of Mounir Gwarzo, the suspended Director-General of the Securities and Exchange Commission (SEC), back to his position.

Airtel Africa eyes London stock market listing

Airtel Africa Ltd, a subsidiary of India’s Bharti Airtel Ltd, said on Tuesday it was considering a stock market flotation in London to reduce existing debt.
Mary Uduk - The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.

SEC warns market operators against unethical conduct

Nigerian capital market regulatory body, the Securities and Exchange Commission (SEC) has warned operators in the capital market to desist from unethical practices that can lead to strict regulatory actions.

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Lagos government scales up fish production

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Chad declares emergency in east after dozens die in ethnic violence

Chad President Idriss Deby declared a state of emergency in two eastern provinces on Sunday after violent intercommunal clashes left dozens dead earlier this month.
A board member of the Athletics Federation of Nigeria (AFN), Brown Ebewele, says the country is risking its chances of winning the forthcoming African Games following the choice of athletes by the federation to represent the country.

African Games: Organisers formally welcome Team Nigeria

Organisers of the 12th African Games on Sunday, officially welcomed Team Nigeria to “Rabat 2019”, with a flag-raising ceremony at the Games Village located at the International University of Rabat.

Police found decomposing body of farm worker on mango tree

The Police in Ogun State have discovered the decomposing remains of a farm worker, who was allegedly murdered by his boss, over allegation of stealing.

Pastor blames devil, poor tithes for stealing N1.2 million SUV

The Pastor of Jesus Miracle Church at No. 16, Ado-Odo Road, Afan, Sango-Ota, Ogun State, Jeremiah Ehindero, has said he stole a N1.2million vehicle when his congregation’s tithes and offerings was not enough to pay off a N650,000 bank loan.