Oando Archives — Page 2 of 2 — City Business News

January 24, 2018 No Responses

Oando: Shareholders fault Sanusi’s intervention

The reported intervention of the Emir of Kano, Muhammadu Sanusi in the face-off between Oando Plc and one of its aggrieved shareholders cannot stop a forensic audit planned by the Securities and Exchange Commission (SEC), the Oando Shareholders Solidarity Group (OSSG)...

December 19, 2017 No Responses

Oando shareholders insist on forensic audit

Shareholders under the aegis of the Oando Shareholders Solidarity Group (OSSG) have faulted recent claims by the management of the company that it dragged the Securities and Exchange Commission (SEC) to court to protect shareholders’ interest. In a stat...

December 5, 2017 No Responses

Oando:Shareholders demand Kemi Adeosun’s sack

South-South Coordinator of the Oando Shareholders Solidarity Group (OSSG), Mr Clement Ebitimi, has called on President Muhammadu Buhari to sack the Minister of Finance, Kemi Adeosun, for allegedly meddling in the forensic audit of Oando Plc. Some newspapers ...

November 28, 2017 No Responses

Oando: Shareholders insist on interim management

Shareholders of Oando Plc have advised the current management of the company under the leadership of Mr Wale Tinubu to step down in the interest of all stakeholders. A Federal High Court sitting in Lagos had last week dismissed...

November 16, 2017 No Responses

Shareholders to Tinubu: You must resign to save Oando from further trouble

The crisis rocking Oando Plc assumed another dimension on Wednesday as a group of shareholders called on the embattled company’s management team led by its Group Chief Executive, Wale Tinubu to resign. President of the Trusted Shareholders’ Association...

October 30, 2017 No Responses

Oando: Shareholders seek accelerated forensic audit

The proposed forensic audit of Oando Plc should commence without any further delay, shareholders of the company declared on Sunday in Lagos. According to the shareholders, the investigation should be detailed and “without any fear or favour”. Under t...

October 23, 2017 No Responses

Ondo to revive LNG firm, seeks partnership with NNPC, Chevron, Shell, others

To boost Ondo State’s economy, the State Governor, Rotimi Akeredolu has announced plans to revive moribund OK LNG, a state government-owned firm. This was the high point of a meeting held in the office of the Chief of Staff to...

October 20, 2017 No Responses

Oando Shareholders seek accelerated investigation as Johannesburg Stock Exchange suspend firm

Shareholders of Oando Plc on Thursday commended the resolve of Securities and Exchange Commission (SEC) to investigate allegation leveled against management of the company. Meanwhile, the Johannesburg Stock Exchange (JSE) on Thursday suspended trading in th...

October 19, 2017 No Responses

NSE partner CSCS, Oando, AXAMansard, MTN, donates school to IDPs in Borno

As part of its Corporate Social Responsibility (CSR), the Nigerian Stock Exchange (NSE) has donated a school to the Borno State Government. The school, Maisandari Alamderi Model Nursery and Primary School, located in the Abuja Talakawa District of Maiduguri...

September 21, 2017 No Responses

Oando shareholders protest in Ibadan, demand Wale Tinubu’s Sack

Shareholders of Oando Plc from South Western States stormed Ibadan, Oyo state capital on Tuesday, protesting alleged N263billion liability of the company which the Auditors report claimed is making “Oando Plc no longer a going concern”. Convergi...

August 24, 2017 No Responses

Court orders arrest of Oando’s oil rigs over N4.7 billion debt

A Federal High Court sitting in Port Harcourt, Rivers State has ordered the arrest and detention of three crude oil drilling rigs belonging to Oando Energy Services Limited (also known as OES Energy Services Limited) over debts of US$15,399,524.84 (equivalent....

July 27, 2017 No Responses

EFCC recovers N328.9b from NNPC retails, Oando, Total, Mobil, others

The Economic and Financial Crimes Commission (EFCC) has recovered a total sum of N328, 988,296,990.62 from NNPC retails, Oando Plc, Mobil Plc, Conoil Plc, Total Plc, OVH Energy Plc, Forte Oil and Gas Plc, MRS Oil Plc and NIPCO Oil...

May 31, 2017 No Responses

Petroleum ministry under scrutiny as Senate halts concession of Port Harcourt Refinery to AGIP, OANDO

Citing alleged irregularities, the Senate on Tuesday asked the Ministry of Petroleum Resources to halt all transactions relating to the proposed concession of the Port Harcourt refinery to Agip and Oando. The lawmakers who are questioning the rationale behin...

May 12, 2017 No Responses

Oando seeks approval to refurbish refineries

Oando Plc is to seek the approval of the Federal Government to refurbish one or two refineries as part of measures to end fuel importation. Speaking during the company’s facts behind the figure at the Nigerian Stock Exchange (NSE)...