SEC: Oando Annual General Meeting Remains Suspended - Politics - Nairaland
Nairaland Forum › Nairaland General › Politics › SEC: Oando Annual General Meeting Remains Suspended (683 Views)
| SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:16pm On May 01, 2021 |
The Securities and Exchange Commission (SEC) says an order on the suspension of Oando Plc annual general meeting (AGM) still stands following different judgments from court cases instituted by the energy firm. In a statement on Friday, SEC said that its action against Oando Plc is as a result of “severe breaches of capital market regulations” adding that some are under criminal investigations. The commission said in 2017, it received petitions from two shareholders of Oando alleging corporate governance lapses, mismanagement, among other complaints. It said investigations were conducted into the activities of the energy firm and observed certain infractions and violations of securities laws by some members of the board of Oando. Following the investigations, SEC sanctioned the firm and its affected directors in May 2019. Oando, in response to the commission’s action, challenged the directives in several cases in court, including the indefinite suspension of its AGM in June 2019 and a proposed plan to institute an interim management to appoint new board of directors and a new management team for the energy firm. According to the statement, SEC explained that: “One judgment of the Federal High Court, Lagos has held that the Federal High Court Nigeria lacks the jurisdiction to entertain the dispute as the jurisdiction lies with the Investments & Securities Tribunal. “Three judgments of the Federal High Court, Abuja have held that the Federal High Court Nigeria lacks the jurisdiction to entertain the dispute as the jurisdiction lies with the Investments& Securities Tribunal. “One judgment of the Federal Capital Territory, High Court Bwari Abuja has held that the Federal Capital Territory High Court Abuja has the jurisdiction to entertain the matter and granted the reliefs sought by the Applicants. “One judgment of the Federal High Court, Kano has held that the Federal High Court Nigeria has the jurisdiction to entertain the dispute and granted the reliefs against the Commission. “In view of the conflicting judgments of the High Courts of coordinate jurisdiction, the Commission hereby advises the public that in line with the law and the pending appeals/applications for stay of the various judgments, parties and relevant stakeholders are enjoined to maintain status quo, which includes the suspension of the Annual General Meeting, pending the determination of the cases and the appeals” https://www.thecable.ng/sec-oando-annual-general-meeting-remains-suspended
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| Re: SEC: Oando Annual General Meeting Remains Suspended by FarahAideed: 4:19pm On May 01, 2021 |
Lol those shareholder don't want to realise they have been scammed in the biggest corporate ponzi scheme in Nigerias history by the Jags and his boys ..What they own now are just ghost shares 1 Like |
| Re: SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:21pm On May 01, 2021 |
FarahAideed:SEC stepped in too late and the case will be dragged in court forever. International investors have seen how the clowns that regulate the stock markets and banking industry operate in Nigeria. 2 Likes
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| Re: SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:27pm On May 01, 2021 |
Nigeria the only country in the world were courts of the same jurisdiction such as the Federal High Court in Abuja and Kano issue conflicting orders. “One judgment of the Federal Capital Territory, High Court Bwari Abuja has held that the Federal Capital Territory High Court Abuja has the jurisdiction to entertain the matter and granted the reliefs sought by the Applicants. “One judgment of the Federal High Court, Kano has held that the Federal High Court Nigeria has the jurisdiction to entertain the dispute and granted the reliefs against the Commission. https://www.youtube.com/watch?v=Wg7lfHL_l1w |
| Re: SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:30pm On May 01, 2021 |
RuudVanNisteroy:You are master of lie and cooked up stories. |
| Re: SEC: Oando Annual General Meeting Remains Suspended by DDDEnterprises: 4:34pm On May 01, 2021 |
thebosstrevor1:I'm only here to learn oo. Abeg, can you point out the lies so we can know what to believe? .......... By the way, please check my signature and patronize us for your data. Na beg I dey beg. Thanks. 1 Like |
| Re: SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:34pm On May 01, 2021 |
thebosstrevor1:Did you read the article clown!That was the basis SEC suspended the AGM. |
| Re: SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:35pm On May 01, 2021 |
DDDEnterprises:He is a BMC clown. There is no truth in them. |
| Re: SEC: Oando Annual General Meeting Remains Suspended by helinues: 4:35pm On May 01, 2021 |
Jokes all over the country... It's a pity 1 Like |
| Re: SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:37pm On May 01, 2021 |
helinues: |
| Re: SEC: Oando Annual General Meeting Remains Suspended by FarahAideed: 4:40pm On May 01, 2021 |
RuudVanNisteroy:Don't mind home , the guilty run for no reason ..He knows his boss crooked boss Jagaban is the architect of Oando woes 2 Likes |
| Re: SEC: Oando Annual General Meeting Remains Suspended by helinues: 4:40pm On May 01, 2021 |
RuudVanNisteroy:SEC is only protecting their own shares |
| Re: SEC: Oando Annual General Meeting Remains Suspended by helinues: 4:41pm On May 01, 2021 |
FarahAideed:Still no authentication about the CBN security memo?....  |
| Re: SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:43pm On May 01, 2021 |
RuudVanNisteroy:You are a master of lies, i am not even concerned with your article, it seems you and tinubu family had a past beef. My concern is with that video and the court case, how do they relate  1 Like |
| Re: SEC: Oando Annual General Meeting Remains Suspended by helinues: 4:43pm On May 01, 2021 |
713thirteen:Oya spread the shit gan... Na all those who dey hailed you go chop inside what they have created... I be Mario on this thread  1 Like |
| Re: SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:44pm On May 01, 2021 |
thebosstrevor1:The video was to confirm what David Cameron said about Nigeria being fantastically corrupt. You are too slow |
| Re: SEC: Oando Annual General Meeting Remains Suspended by helinues: 4:45pm On May 01, 2021 |
thebosstrevor1:Op's obsession with Tinubu no be here oo.. ... 2 Likes |
| Re: SEC: Oando Annual General Meeting Remains Suspended by helinues: 4:46pm On May 01, 2021 |
RuudVanNisteroy:And how about the photo of Buhari and Tinubu? Are they also board of directors in OANDO? |
| Re: SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:48pm On May 01, 2021 |
helinues:Why am I accused of several obsessions. I just got accused of being obsessed with First Bank. Is Securities Exchange Commission (SEC) also Obsessed with the Tinubu's, that suspended the management for severe breaches of capital market regulations”, while adding that some are under criminal investigations. |
| Re: SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:48pm On May 01, 2021 |
helinues:He is just too obsessed with them. |
| Re: SEC: Oando Annual General Meeting Remains Suspended by helinues: 4:54pm On May 01, 2021 |
RuudVanNisteroy:You were not interested in the OANDO general meeting suspension... You only created the thread to snoop in your regular Tinubu mantra which you already did by attaching Tinubu's photo with the thread. We all know the magic behind the disappearance of meat in the mouth... |
| Re: SEC: Oando Annual General Meeting Remains Suspended by Nobody: 4:57pm On May 01, 2021 |
helinues:Bank document released by former Managing Director of Alpha Beta, Dapo Apara before the Lagos State High Court, showed some part of the money was sent to Oando. According to affidivait Tinubu owns Alpha Beta through several fronts and sent some money to Oando. http://saharareporters.com/2020/10/09/exposed-how-tinubu-diverted-n224bn-44m-alpha-beta-vintage-press-oando-purchased-shares http://saharareporters.com/2020/11/13/bank-documents-expose-how-tinubu%E2%80%99s-alpha-beta-transferred-billions-shell-company-run-tvc
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| Re: SEC: Oando Annual General Meeting Remains Suspended by helinues: 4:59pm On May 01, 2021 |
RuudVanNisteroy:Exactly.. Tinubu Dapo Apara Documents And allegations You see that they are in order... Yeah, that's your pattern which you have just repeated |
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