Court Adjourns Oando Case Against SEC To July 22

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Oando MD, Wale Tinubu

A federal court in Lagos adjourned a case brought by local oil firm Oando to stop Nigeria’s financial watchdog from replacing its chief executive and making other management changes to July 22.

The SEC’s action followed an investigation in which it allegedly found evidence of financial infractions by the company.

This month a court blocked the SEC from replacing Oando’s chief executive and taking other action against the oil firm, pending further hearings on the case.

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