The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), on Monday, said the divestment deal between Oando and Nigerian Agip Oil Company (NAOC) followed due process as provided by the Petroleum Industry Act (PIA). Recall that former Vice President, Atiku Abubakar, on Sunday, asked the Federal Government to explain why Oando Plc, owned by the president’s nephew, […]
By Ebere Chibuzor Oando Foundation and the Nigerian Conservation Foundation, NCF, through a project tagged ‘Clean Our World’, COW, engaged in the clean-up of a community in Ilasamaja area of Lagos State on Thursday The activities were also supported by Lagos-Isolo Lions Club 404 B-1 led by their President, Mrs Deola Olatunbosun; African Clean-up Initiative […]
Motolani Oseni Due to persistent sell pressure, equities market of the Nigerian Stock Exchange (NSE) continued its bearish movement to lose N28billion at the close of Monday trading activities. The stock market benchmark index, NSE All Share Index (ASI) dropped by 56.73 basis points or 1.25 per cent close the week at 28,847.81 basis points […]
The market indices of the Nigerian Stock Exchange (NSE) on Thursday recorded marginal growth of 0.12 per cent. Specifically, the market capitalisation which opened at N12.087 trillion rose by N15 billion or 0.12 per cent to close at N12.102 trillion. The All-Share Index also improved by 39.77 points or 0.12 per cent to close at […]
The ongoing battle between the Securities and Exchange Commission (SEC) and Oando Plc has taken a new dimension. In a statement issued by the Commission on Tuesday, the acting Director General of the Commission, Abdul Zubair , announced in Abuja that the two lawsuits filed by Oando PLC has been withdrawn. ‘Oando Plc has withdrawn […]
Ruling in a motion filed by an oil firm, Oando Plc, seeking preservative orders in a suit it filed to challenge the technical suspension imposed on its shares on the floor of the Nigerian Stock Exchange (NSE) to allow for a forensic auditing of its books, has been fixed by a Federal High Court, Ikoyi, […]
*says High Court not IST appropriate Daily Times Nigeria gathered that Oando Plc has approached the Court of Appeal with prayers for the court to lift the prevailing technical suspension placed on its shares as ordered by the SEC, as it argued that THE FEDERAL High court is more appropriate to entertain the case than […]
For the dogged souls to succeed in business, it has to involved critical thinking, focus and discipline, being human, getting things done and having a competitive spirit. All these adjectives are what best describe the dark skinned philanthropist, Wale Jubril Tinubu who has remain focused throughout his travails as the prime mover of Oando boss. […]
… May opt for As IST hearing Indications have emerged that Oando Nigeria Plc will appeal the Lagos High Court ruling last Thursday, which gave the Securities and Exchange Commission (SEC), power to forge ahead to conduct forensic audit on the firm. In the ruling, the court had struck out Oando’s case against SEC Nigeria, […]
* Scandal, setback for economy Stakeholder Adesola Afolabi, Lagos The latest development in the Oando/SEC capital market drama that unfolded in September has taken a new twist as Oando announced that it has obtained a court order to annul the suspension placed on the sale of its shares by the Nigerian Stock Exchange (NSE) following […]
The Nigerian Stock Exchange says it has partially lifted a suspension placed on shares belonging to oil services firm, Oando Plc. In a notice signed by general counsel and head of regulation, Tinuade Awe, the bourse said shareholders can now trade their shares but the trading activity will not lead to a change in price. […]
Afolabi Adesola The 48hour suspension, meant to elapse Friday 20th October 2017, placed on shares of Oando Plc has been extended till further notice. The Nigerian Stock Exchange General Counsel/ Head of Regulation, Tinuade Awe said on Friday that trading in the shares of Oando Plc will remain fully suspended on the Nigerian Stock Exchange […]
The Johannesburg Stock Exchange has suspended trading in shares belonging to Oando Plc. According to a statement issued by the JSE’s Sens service, Oando’s listing was suspended following the review of subsequent correspondence received on October 18 from the Nigerian Stock Exchange (NSE) and the Securities and Exchanges Commission (SEC). On Wednesday, the NSE said […]
Bonny Amadi Cross- section of shareholders of Oando Plc and capital market experts have lauded the speedy action taken by the Securities and Exchange Commission (SEC) by heeding to request for investigations into the happenings in the company’s management. The shareholders, on Thursday, expressed that wrong doing will be exposed and adequate sanctions meted out […]
Afolabi Adesola Oando Plc has reacted to the suspension and forensic audit directives from Nigeria’s Securities and Exchange Commission (SEC). The energy firm in a statement released via the Nigerian Stock Exchange (NSE) late Wednesday noted that “The Company is currently reviewing subsequent correspondence received from the NSE and SEC and will provide a full […]
*Discovers gross misconduct, insider dealings, others Afolabi Adesola Nigeria’s Securities and Exchange Commission (SEC) has ordered the Nigerian Stock Exchange (NSE) to immediately suspend the trading, in the shares of Oando Plc. The suspension order, which became effective on Wednesday, October 18th, 2017, is as a result of what the capital market regulator said, was […]
Oando Gas and Power has announced the rebranding of the company and change of its corporate identity to Axxela Limited. The rebranding of Oando PLC’s Midstream business subsidiary was said to be in a bid to renew its ambition and strategic growth plan. This change was not entirely unexpected following last year’s acquisition of a […]
Shareholders in Oando Plc have taken up the opportunity provided by the National Assembly to send in petitions related to the state of affairs in the company, as they have sent a petition to the body. Shareholders of the company based in the North, also held a protest in Abuja over the state of affairs […]
The management of Oando Plc has reassured its shareholders across the country ahead of its 40th Annual General Meeting slated for Monday, September 11, 2017, in Uyo, Akwa Ibom State. Following the response of the Securities & Exchange Commission (SEC) to petitions raised by Alhaji Dahiru Mangal and Ansbury Inc. objecting to the AGM, the […]
Oando, Mobil, Total, MRS, Capital Oil, others affected Allege connivance between marketers, govt officials Reopen investigation into Malabu oil deal Speedy passage of PIB, solution to anomalies –NNPC Speaker of the House of Representatives, Yakubu Dogara, on Tuesday, inaugurated an ad hoc committee to investigate the huge debts amounting to over N500 billion owed […]