Oando Plc: Lagos FHC Adjourns Hearing In Wale Tinubu, Boyo, SEC Suit

Justice Mojisola Olatoregun of the Federal High Court in Lagos, on Thursday, adjourned until June 24, 2019, the suit instituted by Jubril Adewale Tinubu, Group Chief Executive of Oando Plc, and his Deputy Group Chief Executive, Omamofe Boyo, against the Securities and Exchange Commission (SEC).
In a statement to the Nigerian Stock Exchange (NSE) by Ayotola Jagun, its Company Secretary, Oando reported the court as directing that the preliminary objection of the respondent, the SEC, and the substantive application for enforcement of fundamental rights be taken together at the next adjourned date.
Meanwhile, the court further ruled that all parties involved should maintain the status quo, pending the determination of the motion.
“Pursuant to the court order, Oando’s management team and Board of Directors as at the date of this release (save for the two (2) non-executive directors departure announced on the 7th of June 2019) remain unchanged pending the outcome of the hearing of the various applications filed by the parties,” the statement added.