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Oando bosses granted injunction by FHC restraining SEC
On the 3rd of June, 2019, Group Chief Executive, Oando, Wale Tinubu and his deputy, Omamofe Boyo were granted an injunction by the Federal High Court, restraining the SEC from executing the sanctions in the letter to Oando dated the 31st of May, 2019.
The injunction also restrains SEC and all of it’s agencies from acting upon the decisions in the letter, as well as preventing Mr. Mutiu Sunmonu from acting as the head of the interim management of Oando. The injunction further explicitly states that Omamofe Boyo and Wale Tinubu are barred from acting on any of the sanctions stated by SEC in the said letter, meaning that the two business moguls are allowed to continue in their respective roles till the case is heard by the Federal High Court Lagos.
Story to be continued.