Lagos — A Federal High Court, Lagos, has adjourned hearing on the case between Oando Plc’s embattled Group Chief Executive and the Deputy Group Chief Executive, and the Securities & Exchange Commission, SEC.
The court, under presiding Judge C M A Olatoregun, on adjourned hearing the case between Mr. Adewale Tinubu, Mr. Omamofe Boyo, and SEC to June 24.
Upon adjournment, the court directed that the respondents’ preliminary objection and the substantive application for enforcement of Fundamental Rights should be taken together at the next adjourned date.
The court ruled that all parties involved are to maintain the status quo pending the determination of the motion..
Oando had dragged SEC to court over the result of its investigation on which the indigenous firm said it was not given a fair hearing, an allegation vehemently denied by the commission.
SEC had also sacked Mr Tinubu and Mr. Boyo from office and suspended Oando’s 42nd annual general meeting slated to hold on June 11 “until further notice”.