Oando Plc on Friday said that it would challenge the Securities and Exchange Commission (SEC) ruling on the outcome of its forensic audit.
The company made the disclosure in a statement issued in Lagos by its Head of Corporate Communications, Alero Balogun stressing that the company would take all legal steps to protect its business and assets while remaining committed to act in the interest of its shareholders.
SEC on Friday barred Wale Tinubu, the company’s Group Chief Executive Officer (GCEO), and the Deputy Group Chief Executive Officer from being directors of a public company for five years.
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These were outcomes of the forensic audit of the company instituted by the commission in March 2018.
SEC noted that it appointed Deloitte Nigeria to proceed with the forensic audit which revealed infractions.
