*Re-elects 3 retired directors
29 July 2018, Sweetcrude, Lagos — Shareholders of the indigenous oil company, Oando Plc have approved the audited financial statement and of the Group for the year ended, December 31, 2017.
In a memo sent to the Nigerian Stock Exchange, NSE, seen by SweetcrudeReports, the company said aside from the approved statement, its stakeholders have also received and approved reports of its directors, auditors and audit committee.
News of the approval of its financial statement came following several battles with some of its shareholders last year.
According to the memo, the company had also reappointed Ernst and Young (Nigeria) as its auditors and the directors have been authorise to fix the auditors’ remuneration.
Three of its directors who had been retired by rotation were also re-elected.
The re-elected directors are Chief Sena Anthony, Mr. Ike Osakwe and Mr. Ademola Akinrele, SAN.
Others such as Chief Sena Anthony, Mr. Tanimu Yakubu, Dr. Joseph Ashaolu, Mr. Olusegun David Oguntoye, and Mr. Jackson Edah were elected as members of the audit committee for the company’s 2018 accounts.
The following individuals were also elected to the company’s Board of Directors, Alhaji Bukar Goni Aji with effect from January 19, 2018, and Mr. Muntari Zubairu with effect from February 5, 2018.