As the Oando Plc insists on retaining Wale Tinubu as its Group Chief Executive (GCE), aggrieved shareholders are worried about the future of the oil company, in view of the unresolved corporate governance issues relating to the group’s financials.
The shareholders, who stormed the venue of the Group’s Annual General Meeting in Calabar, Cross River State, in a letter read out by the leader, Clement Ebitimi, had accused the Oando management of mismanagement, thereby plunging the company into crisis.
The letter included many demands, in which the shareholders also called on Tinubu “to step down and allow competent hands to manage the company,” to save billions in assets of the company.
They equally called on the Nigerian Stock Exchange (NSE), and the Securities and Exchange Commission (SEC), “to commence an immediate investigation to determine the true state of the company’s financials and corporate governance practice,” especially as regards the remuneration of the CEO and other directors.
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Uncertainties worries Oando shareholders
The shareholders, who stormed the venue of the Group’s Annual General Meeting in Calabar, Cross River State, in a letter read out by the leader, Clement Ebitimi, had accused the Oando management of mismanagement, thereby plunging the company into crisis.
The letter included many demands, in which the shareholders also called on Tinubu “to step down and allow competent hands to manage the company,” to save billions in assets of the company.
They equally called on the Nigerian Stock Exchange (NSE), and the Securities and Exchange Commission (SEC), “to commence an immediate investigation to determine the true state of the company’s financials and corporate governance practice,” especially as regards the remuneration of the CEO and other directors.
READ FULL ARTICLE
Uncertainties worries Oando shareholders
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