By Damola Emmanuel
The Nigeria Police Force stormed the Victoria Island, Lagos headquarters of the Oando Plc Monday morning in a dramatic fall-uot of last week’s sack of the company’s board.
The police action forced staff members of the company to stay away from the office.
There was no official statement from the company at the time of this report. Neither had the police issued any statement to explain their action.
On Sunday, the Securities and Exchange Commission announced that it had set up an interim management team to oversee the affairs of Oando following its order that the company’s Group Chief Executive Officer, Mr. Wale Tinubu, his deputy, Mr Omamofe Boyo, and other affected board member should resign. They were also banned for five years.
In the statement it issued to announce that it had set up an interim management team to oversee the affairs of Oando Plc, SEC said: “Further to our press release on Oando Plc, dated May 31, 2019, the commission hereby informs the public of the constitution of an interim management team headed by Mr Mutiu Olaniyi Adio Sunmonu, CON, to oversee the affairs of Oando Plc, and conduct an Extraordinary General Meeting on or before July 1, 2019, to appoint new directors to the board of the company, who would subsequently select a management team for Oando Plc.
“The commission wishes to reiterate its commitment to maintaining the integrity of the market.”
