EXCLUSIVE: Oando shareholders "furious and disappointed" in the SEC's decision to stop AGM from holding

June 11, 2019 3:54 PM

An OANDO filling station

Oando shareholders have expressed their anger and disappointment in the SEC's decision to stop the company's Annual General Meeting from holding.
A Federal High Court granted interim injunction on June 3, 2019 stopping the SEC from disrupting the company’s “status quo”.

Oando shareholders have expressed their anger and disappointment in the SEC's decision to stop the company's Annual General Meeting from holding despite a Federal High Court interim injunction on June 3, 2019 stopping it (the SEC) from any such action, thus disrupting the company’s “status quo”

In a video obtained by Business Insider, a visibly angry shareholder who travelled all the way from Zamfara State to Lagos is seen criticising the Nigerian Securities and Exchange Commission for disobeying the court's ruling and disregarding "status quo".

Watch the video below.

Sources close to the matter say the shareholders are "furious and disappointed" with the SEC's actions which has inconvenienced them seeing as the notice for the AGM was sent out 3 weeks ago and it is something they had been "getting ready for".

David Adeleke

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