Oando Crisis deepens as SEC suspends sale of shares

The Securities and Exchange Commission on Wednesday instructed the Nigerian Stock Exchange to implement a full suspension in the trading of the shares of Oando Plc.

It also ordered technical suspension of the company’s shares.

“Effective for forty-eight (48) hours from today, 18 October 2017 to 20 October 2017,The Nigerian Stock Exchange should implement a full suspension in the trading of the shares of Oando Plc,” SEC said Wednesday.

“Effective from 20 October 2017 and until further directive, The Exchange should implement a technical suspension in the shares of Oando Plc.”

The company has been enmeshed in crisis since its last shareholders meeting with some calling for the exit of its management…