Two directors quit Oando over uproar with SEC


Court adjourns hearing in SEC, Oando case till July

Two non-executive directors of Oando have resigned their appointments in the latest twist to the face-off between Oando and  the Securities and Exchange Commission (SEC).

Chief Sena Anthony and Oghogho Apata resigned on Friday a week after SEC asked Wale Tinubu, the group managing director, and Mofe Boyo, his deputy, to quit and barred from being directors of any public company for five years.

Sources at Oando said on Friday that  the company received official correspondence from the Deputy Commissioner of Police in Lagos State on Thursday  , requesting cooperation from  management of the company  on  the deployment of armed men in  Oando’s head office to maintain law order.

The sources said the letter came three days after  armed policemen were drafted to    the head office,claiming that the presence of the security personnel is scaring staff from work and hampering business operations.

Tags Oando

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