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NNPC transfers stakes in three oil assets to NPDC

The Nigerian National Petroleum Corporation, NNPC, yesterday, signed an agreement with Nigeria Agip Oil Company, NAOC, and Oando, for the transfer of NNPC’s stake in three oil wells, Oil Mining Lease, OML, 61, 62 and 63 to its upstream subsidiary, Nigerian Petroleum Development Company, NPDC.
Mary Uduk - The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.

Clarion call for SEC, other agencies to respect rule of law

If the SEC goes ahead with this action it will be in clear violation of the interim injunction obtained by Oando’s principals Adewale Tinubu, the Group Chief Executive and Omamofe Boyo, the Deputy Group Chief Executive which restrains SEC, its servants and agents from directing or requesting any agency of the Government to act upon its decisions contained in its letter of 31st May pending the hearing.

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.

Court grants Oando chiefs injunction, restrains SEC sanctions

The Oando and SEC saga just got more interesting. In their personal capacities, Oando PLC’s boss, Wale Tinubu and his Deputy, Omamofe Boyo, have obtained an injunction under presiding Judge C M A Olatoregun of Federal High Court (FHC), Lagos, restraining the SEC from implementing the sanctions contained in its 18 month long forensic audit report.
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.

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.
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: SEC’s claims against Wale Tinubu ‘unsubstantiated’

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, an official of the oil company Oando said late on Friday.

Oando to challenge SEC’s ruling on forensic audit

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

Oando: Why SEC ousted Wale Tinubu, Omamofe Boyo

After over a year of forensic audit, the Securities and Exchange Commission (SEC) has concluded investigation of Oando Plc and barred the Group Chief Executive Officer, Mr Wale Tinubu, from being a director of a public company for five years.

SEC orders Oando chief Wale Tinubu, others to resign

The Securities and Exchange Commission has concluded its investigation of Oando Plc and ordered the Group Chief Executive Officer of the company, Mr Wale Tinubu, and other affected board members to resign.

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.

Oando: We are not a party to London arbitration

Oando PLC’s shareholders can heave a sigh of relief as the Company, has set the record straight following claims in the mediawhich implied that Oando has been ordered by the London Court of International Arbitration (LCIA) to pay Ansbury Investment Inc. $680 million

Oando: We do not owe Ansbury any money

The dispute between Gabrielle Volpi and the principals of Oando has been ongoing for over a year and has been a cause of concern for companies and individuals alike who look for investments to grow their business via individuals in the form of equity or debt.

NNPC, Agip to add extra 480mw of electricity to national grid by 2019 –...

The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru, has said the joint venture between the NNPC and the Nigerian Agip Oil Company (NAOC) will add an extra 480 megawatts (MW) to the federal government’s power generation aspiration.

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