Nigeria’s Securities And Exchange Commission Details How Wale Tinubu, Alake of Egbaland And Other Directors Ruined OANDO

Fresh facts have emerged concerning the alleged infractions and false disclosures by Oando Plc which prompted the Securities and Exchange Commission (SEC) to mandate the oil firm’s Group Chief Executive Officer, Wale Tinubu, his deputy, Omamofe Boyo, and other board members to resign.

SEC had barred Tinubu and Boyo from being directors of public companies for a period of five years.

SEC recalled that following the receipts of two petitions from Dahiru Mangal and Ansbury Incorporated, the Commission in 2017 conducted an investigation into the activities of Oando Plc and observed certain infractions of securities laws by some members of the board of Oando Plc.

Read more: SAHARA REPORTERS, June 2, 2019

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