The Securities & Exchange Commission (SEC), has directed the Nigerian Stock Exchange (NSE) to place the shares of Oando Plc on “technical suspension” to enable the Commission conduct a forensic audit into the affairs of the company.

SEC said the forensic audit became imperative following two petitions the Commission received from Alhaji Dahiru Barau Mangal and Ansbury Incorporated about Oando Plc.

The Commission said it carried out a comprehensive review of the petitions and found out that there was “breach of the provisions of the Investments & Securities Act 2007, breach of the SEC Code of Corporate Governance for Public Companies, suspected insider dealing, related party transactions not conducted at arm’s length, and Discrepancies in the shareholding structure of Oando Plc”.

Read more: http://aledeh.com.ng/breaking-nse-to-place-oando-plc-shares-on-technical-suspension-as-sec-conducts-forensic-audit-into-companys-affairs/

Okay.