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Oando Plc, an indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange has announced unaudited results for the nine months period ended September 30, 2019,(Q3’19) recoding Profit After Tax , PAT of N13.1 billion, an increase of 26 percent compared to N10.4 billion in the same period in 2018 (Q3’18).
The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, is to lead other team of discussants to x-ray topical issues in oil and gas industry at the 2019 edition of the National Association of Energy Correspondents (NAEC) annual conference.
Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today announced unaudited results for the six months period ended June 30, 2019.
The oil giant, whose operation was grounded by the Securities and Exchange Commission (SEC) when it laid siege to its head office with the police, weathered the storm and recorded a six per cent increase in revenue of N315.4 billion, from N297.3 billion, in comparative period of 2018.
Following what can now be termed the longest forensic audit in the history of the Nigerian Securities & Exchange Commission (SEC) they published far reaching pronouncements and sanctions against Oando PLC’s principals said to be the outcome of the investigation into the company’s business.
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.
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 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.
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.
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 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, an official of the oil company Oando said late on Friday.
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.
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 Plc said on Friday that it would challenge the Securities and Exchange Commission (SEC) ruling on the outcome of its forensic audit.
A senior officer of the council, who preferred anonymity, confirmed the death, saying, “he has been battling with an undisclosed illness since December last year before he finally succumbed to the cold hands of death.
Tottenham manager Jose Mourinho is giving nothing away on a potential exit for Christian Eriksen but wants Kylian in the club.
Apple dropped plans to let iPhone users fully encrypt backups of their devices in the company’s iCloud service after the FBI complained that the move would harm investigations, six sources familiar with the matter told Reuters.
Leicester City manager Brendan Rodgers says Wilfred Ndidi has made “a miraculous recovery” after undergoing a minor surgery for a knee injury.
The United States on Tuesday called for an immediate resumption of Libya’s lifeline oil exports that have been blocked by forces loyal to military strongman Khalifa Haftar since last week.
Ogenyi Onazi is looking forward to making his first appearance for Turkish Super Lig outfit, Denizlispor against champions Galatasaray on Sunday .
Justice Sylvester Ngwuta, who headed the seven-man panel of the apex court, dismissed the appeal filed by Jeremiah Useni of the Peoples Democratic Party.
Thomas Meunier is one of the many Paris Saint-Germain players who will be out of contract at the end of the season unless an offer is made. Given his quality and the potential of a free transfer, several big European clubs have set their targets on the Belgium international.
The Governor of Bauchi State, Bala Mohammed, yesterday said though he travelled to London for medical reasons, he was not on admittance in the hospital.
Rivers United nicked a hard fought draw in Kano against Jigawa Golden Stars to go joint top of the table with Plateau United after a Festus Austin late own goal canceled Cletus Emotan early first half strike in the MatchDay 16 of the 2019/2020 NPFL season at the Sani Abacha Stadium, Kano, on Monday.