FinancePolitics

The Securities and Exchange Commission has ordered the Nigerian Stock Exchange to suspend trading on the shares of Oando Plc.

 

The Securities and Exchange Commission has ordered the Nigerian Stock Exchange to suspend trading on the shares of Oando Plc.

 

The commission said in a circular yesterday it had carried out a comprehensive review of the petitions by Alhaji Dahiru Barau Mangal and Ansbury Incorporated and made the following findings amongst others; Breach of the provisions of the Investments and 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. etc.

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