Alleged Infractions: SEC Takes Over Oando Plc Operations

The Securities and Exchange Commission (SEC), has set up an interim management to oversee the operations of Oando Plc, following alleged infractions committed by the company.

According to a statement made available to nationalwire on Sunday by the Commission said, “Further to our statement on Oando Plc, dated May 31, 2019, the Commission hereby informs the public of the constitution of an Interim Management Team headed by Mr. Mutiu Olaniyi Adio Sunmonu CON, to oversee the affairs of Oando Plc, and conduct an Extra Ordinary General Meeting on or before July 1, 2019 to appoint new Directors to the Board of the Company, who would subsequently select a Management Team for Oando Plc.

“The Commission wishes to reiterate its commitment to maintaining the integrity of the market”, it added.