Michael James
14 July 2017, Sweetcrude, Lagos — Oando Nigeria Plc is currently undergoing investigations by the Securities and Exchange Commission, SEC relating to $1.65 billion cash purchase of Conoco-Philips Oil assets in June 2014.
SEC is also looking into the possible accounting misconduct by Oando having written to the company’s Board and management following weeks of investigation.
The investigation sequel petition to SEC by foreign investors on Oando shareholding structure in relation to the purchase of Conoco-Philips assets in the Niger Delta.