Mangal, Oando petitioner’s son resigns from MRS oil board
The Nigerian business environment may have been kept thinking going by developments in Oando Plc, as the board of MRS Oil Plc, has announced the resignation of Alhaji Dahiru Barau Mangal, as non-executive director, from its board.
A release from Mrs. Oil signed by Mrs. Jafojo, the company’s secretary, titled: “Notification of resignation of our non-executive director, Alhaji Dahiru Barau Mangal and his alternate, Mr. Lawal Dahiru Mangal,” announced that the resignation of Alhaji Dahiru Mangal and his alternate’s resignation became effective on November 17th 2017.
Daily Times Nigeria recalls that both Oando Plc and Mrs. Plc operate in the same sector and listed under the same oil and gas sector of the Nigerian equities market of the Nigerian Stock Exchange (NSE). No reason was however tendered by MRS Oil for the resignation.
The father of retired MRS Director and his alternate director, it would be recalled, petitioned the Securities & Exchange Commission (SEC) against the management of Oando Plc, on alleged infractions, following which shares of the company’s shares were placed on technical suspension.
Oando sought protection of the Federal High Court, Lagos, and obtained an injunction stopping the Nigerian Stock Exchange (NSE) from giving effect to the commission’s suspension order from carrying out a forensic audit, pending the determination of the suit.
According to information available on MaxAir, while Dahiru is chairman, Lawal, is executive director, among his other business ventures spanning “oil and gas, building and construction works, transportation and real estate management to mention a few.”
According to MRS Plc’s 2016 audited financials, Dahiru Mangal joined the board on March 20, 2009, while his alternate joined four years later on May 10, 2012.
Stories by Bonny Amadi
