NSE may sanction Oando

The Nigerian Stock Exchange (NSE) may sanction Oando Plc over alleged delayed filing of its Audited Financial Statements (AFS) for the year ended December 31, 2014, its first quarter and half year.
Already, Oando has been sanctioned for violations of its post-listing obligations in accordance with applicable Rules of The Exchange.  In addition, the Exchange has invited Oando’s Audit Committee as well as its external auditors.
 In a statement on Tuesday, NSE said it was reviewing the situation.
NSE said: “Should Exchange’s continuing review reveal that Oando committed other infractions, the exchange will mete out appropriate sanctions pursuant to its Rules.  The exchangehas reported the situation to the Securities and Exchange Commission. And, will involve other stakeholders, as appropriate.”