Court adjourns hearing of Oando, Wale Tinubu, and SEC’s case till June 24.
The Federal High Court sitting in Lagos on Friday adjourned the case between Oando’s CEO, Wale Tinubu and the Securities Exchange Commission till June 24,2019.
The court, in its ruling, said that all parties involved are expected to maintain status quo pending the determination of the motion.
Recall Wale Tinubu and his Deputy Group CEO, Omamofe Boyo, were late last month ordered by SEC to resign for several allegations levelled against them.
But in a swift reaction, Wale replied the commission that the alleged infractions and penalties were unsubstantiated, invalid and calculated to prejudice the business of the company.
All these crises went on until the Federal High Court in Lagos granted an interim injunction in favour of Tinubu and his deputy, restraining the SEC from going ahead with the sanction.