The Securities and Exchange Commission has banned the Group Executive Officer, Jubril Adewale Tinubu and Deputy, Mr. Omamofe Boyo from the position of Directors for the next 5 years.
The SEC made the decision to curb identified violations in the company. The information was made available via a statement, which further directed that new directors should be appointed on or before July 1, 2019.
The violations include false disclosures, market abuses, misstatements in financial statements, corporate governance lapses, and internal control failures among others.
The SEC also stated that all issues with possible criminal undertones will be duly referred to the appropriate authorities, the NSE, FIRS and CAC.
More details to unfold…