SEC informs Oando of decision to proceed with forensic audit


The Securities and Exchange Commission (SEC) has renewed its resolutions on the conduct of a forensic exercise on the activities of Oando Plc, The Guardian reports.

The decision, contained in a letter dated December 5, 2017 and addressed to Oando Plc. was signed by the Acting Director-General of the commission, Abdul Zubair, and stated that the forensic exercise would commence at any date from today, Wednesday, December 6, 2017.

The letter  said that the commission was aware that suit No. FHC/L/CS/I601/17; Oando Plc vs SEC & ANOR was struck out on November 23, 2017 by his Lordship, Honorable Justice Aikawa of the Lagos Division of the Federal High Court and as such the commission was not aware of the existence of any valid or subsisting order of court restraining the commission from proceeding with the forensic audit.