SEC halts stops Oando from selling shares
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SEC halts stops Oando from selling shares

Ehis Austine



Nigeria’s Securities and Exchange Commission (SEC) has unleashed a big hammer on Oando by suspending its sale of shares as a result of the company’s shareholding structure.

On Wednesday, the SEC swung into action by ensuring the oil and gas company put their house in order by first resolving all managerial problems.

“Effective for forty-eight (48) hours from today, 18 October 2017 to 20 October 2017, the Nigerian Stock Exchange should implement a full suspension in the trading of the shares of Oando Plc,” SEC said Wednesday.

“Effective from 20 October 2017 and until further directive, the Exchange should implement a technical suspension of the shares of Oando Plc.”

Ehis Austine is a mass communication graduate with eight years experience in the field of Journalism. He specialises in areas such as politics, sports, entertainment, lifestyle and economy.

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Updated on March 17, 2019 at 11:56 pm