Continental Focus, International Reach

Court Adjourns Oando/SEC Case Until July

Tuesday, June 25, 2019

A federal court in the Nigerian city of Lagos adjourned a case against the country’s security and exchange commission (SEC) by oil firm Oando to halt management changes that the commission is trying to enforce. The case is adjourned until July 22.

The SEC’s action followed an investigation in which it allegedly found evidence of financial infractions by the company.

Earlier this month the SEC was blocked by the court from replacing Oando’s CEO, pending further hearings.