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OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo - Business - Nairaland

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OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by BleedingPen: 6:34pm On Jun 03, 2019
A Federal High Court sitting in Lagos, has restrained the Securities and Exchange Commission (SEC) from removing Wale Tinibu as Oando Plc’s Chief Executive Officer, Igbere TV reports.

The court also restrained the SEC from removing Omamofe Boyo as the Group Deputy Chief Executive Officer.

Igbere TV learnt that Justice Mojisola Olatoregun of the Lagos High Court granted the interim injunction following an application by the embattled CEO and DCEO.

The Oando chiefs had applied for enforcement of their fundamental rights, Igbere TV gathered.

Ruling further, the court also restrained SEC, its servants or agents from taking any step concerning the commission’s letter dated May 31 in which it barred Tinubu and Boyo from being directors of a public company for five years.

It also restrained the commission from imposing a fine of N91.13 million on Tinubu, and from taking any action on the said letter pending hearing and determination of the applicants’ motion for an interlocutory injunction.

The court also restrained Mutiu Sunmonu from acting as the Head of Oando’s interim management team pending the hearing and determination of the motion.

It, therefore, urged all parties to maintain status quo ante pending the determination of the motion.

The court adjourned the case until June 14.

http://igberetvnews.com/741951/oando-saga-drama-as-court-restrains-sec-from-removing-tinubu-boyo/

1 Like

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Starkid3010(m): 8:58pm On Jun 03, 2019
Rrr
Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by soberdrunk(m): 8:58pm On Jun 03, 2019
Justice Moji don get alert way dey spoil phone........ angry

35 Likes 1 Share

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Starkid3010(m): 8:58pm On Jun 03, 2019
grin grin Bleep guys
Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by kaen1317: 8:59pm On Jun 03, 2019
He will be removed one way or the other. Anything to clip Tinubu's wings. Dirty game of Nigerian politics.

7 Likes

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by TheMoniker: 9:00pm On Jun 03, 2019
grin
The real gboy with connection.

3 Likes

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Amuocha: 9:00pm On Jun 03, 2019
Tinubu sef..

Why Lagos High Court? When SEC Hq is in Abuja embarassed
Useless decision.

7 Likes

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Phock2sweet: 9:01pm On Jun 03, 2019
am here just for bet9ja guy, sex style guy and knee for hire guy. I just want to see their post daz all

10 Likes 2 Shares

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by shammahyaro(f): 9:01pm On Jun 03, 2019
Hmmm
Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Nobody: 9:03pm On Jun 03, 2019
soberdrunk:
Justice Moji don get alert way dey spoil phone........ angry

4 Likes

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Epique: 9:03pm On Jun 03, 2019
Great
Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by candygist: 9:03pm On Jun 03, 2019
kaen1317:
He will be removed one way or the other. Anything to clip Tinubu's wings. Dirty game of Nigerian politics.

Did Tinubu sack your father from is job ? Why the hate

16 Likes

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Bizlifelines201: 9:05pm On Jun 03, 2019
kaen1317:
He will be removed one way or the other. Anything to clip Tinubu's wings. Dirty game of Nigerian politics.
This Tinubu is Wale Tinubu and it has absolutely nothing to do with Asiwaju. It's a business deal and board room politics gone awry. It never ceases to amaze me how these guys get these judges to play their games when there are thousands of people awaiting trial and their cases yet to go anywhere. The case of winding down order fraudulently given to Ecobank from the now disgraced Yunnusa against Honeywell flour mills has been dragging on for years now yet the judiciary wants to hold the rest of the nation to ransom.Imagine, it took Honeywell 4 years to get the fraudulent injunction lifted and dragged all the way to the Supreme court. This is the same thing Wale and Boyo will do and the investors, like Honeywell, will lose out. That's why this current composition of NJC has to change to bring in serious and upright Nigerian stakeholders.This judiciary is a curse on Nigeria and President Buhari should deliver Nigeria and Nigerians from bad eggs in the judiciary because this judiciary can't cleanse itself.
This restraint is a disgrace to the judiciary. The best she could have granted is accelerated hearing

14 Likes 1 Share

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Ralphjoe(m): 9:05pm On Jun 03, 2019
sham court ruling,....well read news and get paid..see my quote

1 Like

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by kaen1317: 9:05pm On Jun 03, 2019
So after helping Buhari win the presidency this is how they want to pay him back?

3 Likes

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by kaen1317: 9:06pm On Jun 03, 2019
Bizlifelines201:

This Tinubu is Wales Tinubu and it has absolutely nothing to do with Asiwaju. It's a business deal and board room politics gone awry
oando belongs to Tinubu go and ask.

6 Likes 2 Shares

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Olukat(m): 9:07pm On Jun 03, 2019
soberdrunk:
Justice Moji don get alert way dey spoil phone........ angry



grin grin grin grin grin

1 Like

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Nobody: 9:09pm On Jun 03, 2019
And many folks keep wondering why investors are scared of Nigeria. In Nigeria, most times, only real thugs that are ready to mess themselves up can flourish. This so-called wale Tinubu's oando is the reason the stock market is in disarray. How can you be cooking up figures to make investors feel you're making profit when the company's accounts are empty??

Na God go help us. But any day make any so called big man dupe me,,,e endtime don reach be dat

7 Likes 2 Shares

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Chimaobi377: 9:12pm On Jun 03, 2019
Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by chloride6: 9:13pm On Jun 03, 2019
Our courts have become a joke..

Buy your injuction !!!!

Buy your Injuction!!!!

5M Injuction!!!

9 Likes

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Wallade(m): 9:15pm On Jun 03, 2019
Wale Tinubu can run but he can't hide. The law is an ass and it the law is onto him and the DCEO now.

5 Likes

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by 13october: 9:16pm On Jun 03, 2019
Amuocha:
Tinubu sef..

Why Lagos High Court? When SEC Hq is in Abuja embarassed
Useless decision.
But the company he headed is in where Mr man
Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Bizlifelines201: 9:16pm On Jun 03, 2019
kaen1317:
oando belongs to Tinubu go and ask.
.
Oando is owned by Wale Tinubu and Omamofe Boyo.
Apparently you don't know the truth and you have not bothered to read. Go and read about Volpi and the $700 million he gave Wale Tinubu and Omamofe Boyo. It's the inability of Wale and Boyo to repay the loan or transfer the company ownership to Volpi that created this big problem.

Oando Shareholder Structure

Total Outstanding Shares : 12,431,412,481

Owners

OODP ( Ocean and Oil Investments Limited)
: 7,131,736,673 (57.37%) - ownership 40% by Gabriele Volpi, 40% by Wale Tinubu, 20% by Boyo

Ocean and Oil Investments (OOIL) 159,701,243 (1.28% of total shares) Wale and Boyo owns 0.7% and 0.28% of the parent company through OOIL


Alhaji Mangal 15.92%

Minority holders own the remains

4 Likes

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by blacknp(m): 9:17pm On Jun 03, 2019
Amuocha:
Tinubu sef..

Why Lagos High Court? When SEC Hq is in Abuja embarassed
Useless decision.
Mumu does Marina Lagos sound like anywhere in Abuja to you?

1 Like

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Amuocha: 9:17pm On Jun 03, 2019
13october:

But the company he headed is in where Mr man

You mean W.Tinubu?
This Tinubu's office is along Ajose Adeogun VI
Justice Mojisola Olatoregun office is at Igbosere which is not far from VI angry
Useless decision
Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Alajiki(m): 9:18pm On Jun 03, 2019
kaen1317:
He will be removed one way or the other. Anything to clip Tinubu's wings. Dirty game of Nigerian politics.

Yeah, I was expecting this. The name Tinubu has given you migraines abi? Pele!

2 Likes

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Amuocha: 9:19pm On Jun 03, 2019
blacknp:
Mumu does Marina Lagos sound like anywhere in Abuja to you?

See you...couldn't they go to Abuja High Court?

2 Likes 1 Share

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by visijo(m): 9:23pm On Jun 03, 2019
Rain has made all the roads So slippery, that I may even fall into
Someone's relationship Accidentally.
Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by kaen1317: 9:23pm On Jun 03, 2019
Alajiki:


Yeah, I was expecting this. The name Tinubu has given you migraines abi? Pele!
that thing that made them annul June 12 is still there. Do u know why June 12 was annulled? Do u know why Elrufai is encouraging /teaching Lagosians how to retire godfathers? And now oando. Tinubu has been caught in a monkey trap and nothing can be done about it

1 Like 1 Share

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by waledeji(m): 9:26pm On Jun 03, 2019
Amuocha:


See you...couldn't they go to Abuja High Court?
Poor keneking, very useless Anambra boy that always worried himself about what happens in Lagos

4 Likes 2 Shares

Re: OANDO: Court Restrains SEC From Removing Wale Tinubu, Omamofe Boyo by Kaceman(m): 9:29pm On Jun 03, 2019
Tiiinumbuuu hmm nuff said
Follow me mine bitcoin check my signature for link

1 Like

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