By Tony Obiechina, ABUJA
Following the suspension of the Group Managing Director of Oando PLC, Mr Wale Tinubu, the Securities and Exchange Commission, (SEC) has constituted an Interim Management Team (IMT) to run the affairs of the company.
Headed by Mr. Mutiu Olaniyi Adio Sunmonu, the IMT will oversee the affairs of the company and conduct an Extra Ordinary General Meeting on or before 1st July, 2019.
In a statement by SEC Head of Public Communication, Mrs Efe Ebelo on Sunday night, the IMT will also “appoint new Directors to the Board of the Company, who would subsequently select a Management Team for Oando Plc”.
According to the statement, “the Commission wishes to reiterate its commitment to maintaining the integrity of the (capital) market”.
The Commission had last Friday ordered the resignation of the Board and management of the company as well as barred Tinubu and his Deputy from being directors of public companies for a period of five (5) years.
