Breaking: Police seal Oando head office in Lagos

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Men of the Nigerian Police Force, on Monday, sealed the Corporate headquarters of Oando Plc on Ozumba Mbadiwe street in Victoria Island, Lagos.

The action, theportcitynews gathered, was in line with the directives of the Security and Exchange Commission (SEC) on the constitution of an Interim Management Team, headed by Mr. Mutiu Olaniyi Adio Sunmonu.

SEC had on Sunday barred the Chief Executive of Oando, Wale Tinubu, from holding executive roles in any publicly trading company for five years over misappropriation of funds.

Sunmonu is to oversee the affairs of Oando Plc and conduct an Extra Ordinary General Meeting on or before July 1, 2019, to appoint new Directors to the Board of the Company, who would subsequently select a Management Team for Oando Plc.

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