20 October 2017, Sweetcrude, Lagos – The Nigerian Stock Exchange, NSE, has carried out the Security and Exchange Commission, SEC’s order as it has officially announced the full suspension of trading in the shares of Oando Plc.
In a statement signed by NSE’s General Counsel/Head of Regulation, Tinuade T. Awe, the body said the suspension was based on SEC’s directive. The suspension takes effect from Friday.
“Dealing members are hereby notified that the Securities and Exchange Commission has directed The Nigerian Stock Exchange to suspend trading in the shares of Oando Plc”.
“Effective for forty-eight (48) hours from today, 18 October 2017 to 20 October 2017, the Exchange should implement a full suspension in the trading of the shares of Oando Plc”
“Effective from 20 October 2017 and until further directive, the Exchange should implement a technical suspension in the shares of Oando Plc,” the statement read.
“In the 48 hour period commencing today (yesterday), there will be no trading in the shares of Oando Plc,” the statement added.
However, NSE stated that investors will be able to trade in Oando Plc’s shares but such trading will not result in any movement in the price of the shares.