The reports on ThisDay, Leadership & a few other journals linking the removal of the acting DG SEC, Abdul, to his refusal to stop probe of Oando is not true.
https://www.thisdaylive.com/index.php/2018/04/16/adeosun-explains-reinstatement-of-trading-on-oando-shares/


Forensic Audit of Oando is already ongoing by the Securities and Exchange Commission. Deloitte which is the auditors carrying out the Forensic Audit of Oando has since commenced work and are already in Oando Headquarters carrying out the Audit on Lagos

The Audit of Oando was delayed for some months due to the litigation initiated by Oando. There was no way the Audit could have been undertaken when there was a subsisting court case

The withdrawal of the court case necessitated the commencement of the Forensic Audit by Delloite. The removal of the acting DG of the Securities and Exchange Commission and subsequent replacement with Mary Uduk is absolutely in order

The confusion created last week Wednesday by the SEC with the lifting of the Technical Suspension of Oando shares affected market confidence. It was strictly done by SEC without the Federal Government and the Minister of Finance's knowledge

What really happened?

An order to lift the Technical Suspension of Oando shares by strictly done by SEC through a mail sent by a Deputy Director in SEC who claimed to be acting on behalf of the then Acting DG.

Based on the directive of SEC, the Director General of the Nigerian Stock Exchange (NSE) lifted the Technical Suspension of Oando Shares to allow the shares of the company to be traded on the Stock Exchange.

Some hours later, another order came from SEC through the Deputy Director on behalf of the Acting DG for the DG of NSE to reverse the earlier decision of lifting the technical suspension of Oando Shares.

Minutes later a third order from SEC went to NSE DG ordering again the lifting of the Technical Suspension of Oando Shares which NSE DG complied with.

All these were done without the knowledge and approval of the Federal Government and the Minister.

When the then Acting DG of SEC was asked what happened, he claimed ignorance of the orders by SEC to NSE DG. He put the blame on a Deputy Director in SEC who sent the mail to NSE DG.

But could a Deputy Director of SEC have sent such a mail on behalf of SEC without the knowledge and approval of the then Acting DG?

Absolutely impossible. This shows the then Acting DG was not in charge of the Commission.

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The same way the media were feeding us lies about Jonathan, then Buhari and we choose to believe without verifying.