NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
SEC to go ahead with forensic audit of Oando

By News Express on 06/12/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 622


Nigeria’s Securities and Exchange Commission (SEC) plans to go ahead with a forensic audit of oil company Oando Plc, it said in a statement late on Tuesday, despite the suspension of the commission’s director.

The finance minister suspended SEC Director General Mounir Gwarzo last week over allegations of financial impropriety, a month after Gwarzo started an investigation into Oando’s shareholding structure and froze trading in its shares.

Lawmakers on Tuesday opened an investigation into Gwarzo’s suspension, pledging to look into whether the ministry had interfered with the SEC’s work, particularly issues related to the forensic audit of Oando.

The SEC said it had sent a letter to Oando on Tuesday, informing the company of its decision to conduct the audit, which it has appointed accounting firm Deloitte to handle.

The ministry has appointed Abdul Zubair as acting chief of the commission while Gwarzo is under investigation.

Gwarzo was not immediately available for comment on Wednesday on the decision to go ahead with the audit.

Shares in Oando, which had been frozen at 5.99 naira since October 18, sold off in heavy trading of 10.1 million units, a day after Gwarzo was suspended.

Oando, which bought ConocoPhillips’ Nigerian business for $1.65 billion in 2014, had gone to court to challenge the suspension of its shares by the SEC. (Reuters)

Source News Express

Posted 06/12/2017 6:24:25 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Deputy Governor survives 9 impeachment attempts

Buhari flags off Ogoni clean-up June 2

Fidelity Bank flags off Digital Banking Awareness Campaign...

3 killed in Owerri bank robbery

Police begins special stop-and-search operations on roads/highways nationwide...

Buhari celebrates Super Eagles’ victory over Algeria in...

Ebonyi women’s group proscribed for striking deal with...

NUPENG commences training of 3,000 tanker drivers

Is Freedom of Information Act applicable in states?...

Amosun orders payment of N500m Ogun debt to...

Buhari to Dapchi girls: ‘Pursue your dreams’

Igbo group lauds Tinubu’s leadership quality

 

Latest News NNPC loses N546b in 3 years Gunmen kill 12 in market attack 2019: Okorocha cries out, alleges gang-up PDP, SDP, ADC consider joint presidential candidate 100 Edo secondary students trafficked to Libya 11,254 jobs lost, 13 firms shut in food, beverage sector Stop persecuting Igbo Jews - Group warns Buhari Former APC chieftain apologises to Jonathan, admits Buhari has failed Nigerians Why Buhari may not sign 2018 budget –Minister FG plans to assassinate me - Gov. Wike APC, nPDP in talks to avert Saraki, Dogara, others exit Career politicians deceiving Nigerians with rotational presidency — Moghalu

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (345,053 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (341,700 views) Shameless Genevieve Nnaji exposes breasts in public (273,157 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (224,571 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (205,055 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (202,572 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (176,772 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,056 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,077 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,256 views) Lagos plane crash: Journalist releases victims’ names (139,881 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,283 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (40) Business & Economy (3,137) Business Verdict (43) Columnists (853) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (497) Features (594) Global Business Monitor (273) International (1,968) Interview (149) Live Commentary (28) Love Matters (120) News (35,464) Opinion (954) Pidgin (10) Politics (5,029) Religion (742) Sports (1,512) Stock Watch (29) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement