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Vol 60 No 12

Published 14th June 2019


Oando chief takes on his foes

The company's management is fighting the regulator's orders to quit amid threats of fresh investigations

A reckoning is due in the battle for Oando, one of the country's biggest independent oil companies, after the market regulator barred its CEO and his deputy from holding directorships in public companies. In its ruling of 31 May, the Securities and Exchange Commission in Abuja attempted to suspend the current management of the company and appoint a caretaker board. It added that it would refer the case to the Economic and Financial Crimes Commission.

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