{"id":129891,"date":"2019-06-25T08:49:38","date_gmt":"2019-06-25T07:49:38","guid":{"rendered":"https:\/\/arewa.ng\/?p=129891"},"modified":"2019-06-25T08:50:28","modified_gmt":"2019-06-25T07:50:28","slug":"court-adjourns-oando-case-against-securities-regulator-until-july-22","status":"publish","type":"post","link":"https:\/\/arewa.ng\/?p=129891","title":{"rendered":"Court Adjourns Oando Case Against Securities Regulator Until July 22"},"content":{"rendered":"<div><span class=\"ds-1col file file-image file-image-jpeg view-mode-embedded centered clearfix block-story-object block-story-object-resource block-story-object-resource-image\"><br \/>\n<span class=\"block-story-object-asset\"><img decoding=\"async\" class=\"media-element file-embedded\" typeof=\"foaf:Image\" src=\"http:\/\/arewa.ng\/wp-content\/uploads\/2019\/06\/Court-Adjourns-Oando-Case-Against-Securities-Regulator-Until-July-22.jpg\" alt=\"\"><\/span><br \/>\n<\/span><\/p>\n<p><span class=\"container container-pod container-pod-short\"><span class=\"adunit-parent hide block-module block-module-ad block-module-ad-300x250\"><span class=\"block-module-image-wrapper\"><\/span><\/span><\/span><\/p>\n<p>A federal court sitting in Lagos on Monday has adjourned a case brought by oil firm Oando Plc to stop Nigeria&#8217;s financial watchdog from replacing its chief executive and making other management changes until July 22.<\/p>\n<p>The Security and Exchange Commission&#8217;s action followed an investigation in which it allegedly found evidence of financial infractions by the company.<\/p>\n<p>Justice Mojisola Olatoregun had through a motion filed and argued by Mr. Tayo Oyetobo (SAN) on June 3 restrained the SEC from replacing Oando&#8217;s chief executive and taking other action against the oil firm, pending further hearings on the case.<\/p>\n<p>SEC through its counsel, Chief Anthony Idigbe (SAN), filed a motion to discharge the order as well as preliminary objections challenging that some material facts were concealed in the process of obtaining the order.<\/p>\n<p>Justice Ayokunle Faji adjourned the case until July 22 for the hearing of all pending applications. <\/p>\n<p>Oando has dismissed SEC&#8217;s charges as unsubstantiated and called for the commission to release the full audit on which it is basing its charges.<\/p>\n<p>The Lagos-listed Oando, which also has a dual listing in Johannesburg, has evolved from a fuel retailer into a major indigenous oil producer that competes with multinationals such as Royal Dutch Shell and Exxon Mobil in Nigeria.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A federal court sitting in Lagos on Monday has adjourned a case brought by oil firm Oando Plc to stop Nigeria&#8217;s financial watchdog from replacing its chief executive and making other management changes until July 22. The Security and Exchange Commission&#8217;s action followed an investigation in which it allegedly found evidence of financial infractions by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":129892,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2830,3],"tags":[253,254,12317],"class_list":["post-129891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law","category-news","tag-oando","tag-sec","tag-wale-tinubu"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/129891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129891"}],"version-history":[{"count":0,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/129891\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/media\/129892"}],"wp:attachment":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}