Sponsored Links

Tuesday’s mass protest in Ibadan, the Oyo State capital, may lead to the arrest of Wale Tinubu, the Managing Director of Oando Plc, over a N236 billion liability.
Shareholders of the company from across South-West States, on Tuesday, had stormed Ibadan, to ask for Tinubu’s sack, over the company’s N236 billion liability contained in the Auditor’s report for the year 2016.
The protesters, who were led by the National President of Renaissance Shareholders Association and the National Coordinator of Proactive Shareholders Association of Nigeria, Ambassador Olufemi Timothy, and Mr Taiwo Oderinde, respectively, said the Auditor’s report for 2016 had shown that Oando was no longer a going concern.
They called on President Muhammadu Buhari, the National Assembly Committee on Stock Exchange, the Security and Exchange Commission, and others, to look into the crisis rocking the company, in the interest of the poor Shareholders.
Armed with placards bearing various unprintable descriptions, the Shareholders alleged that a rented crowd of non-Shareholders paid in dollars ,were hired to attend the company’s Annual General Meeting, AGM, held in Uyo, Akwa Ibom State, recently.

“The company reported a comprehensive loss of N56.6 billion in 2015, and N33.9 billion in 2016; and to date, its current assets exceeded current liabilities by N14.6 billion.
“Oando Plc is practically dead, because it is no more a business going concern. Its contemporaries are doing well and bringing glory to their Shareholders.
“We are calling on President Muhammadu Buhari, the Financial Reporting Council of Nigeria (FRCN), Nigeria Stock Exchange and the Senate Committee on Capital Market, to wade in before it is too late.”
“We are dying because our investment in the company has grown wings. The shares we bought for N90 has come down to N5 under Wale Tinubu’s watch. Proper probe should be carried out. Tinubu should step aside.
“The company has gone with its current reported N263 billion negative working capital. We worked hard to invest in the company, but what did we get in return, absolutely nothing! The poor Shareholders are suffering, and many have died.
“We have a lot of retired people dying, because their investment had gone. Under the current management, Oando suffers a lot, and we cannot tolerate it again. Wale Tinubu must resign or step aside for proper investigation.
“They have started selling the company’s assets with the downstream sector gone, and more in pipeline for sale. We have facts and figures on all these not just mere hearsay”, Ambassador Timothy added.
Follow Us on Twitter!

Like Us on Facebook!

Do You Need a Sugar Mummy, Sugar Daddy, Girlfriend, Boyfriend Wife or Husband? If Yes, Then Click Here For Details

Earn 200-400k A Month Dating An Older Women, Sugar Mummy, Sugar Daddy
Earn 200-400k A Month Dating An Older Women, Sugar Mummy, Sugar Daddy
Sugar Mummy Ruth From Delta Is Looking For A Young Guy For Sugar Mummy Affaair
Sugar Mummy Ruth From Delta Is Looking For A Young Guy For Sugar Mummy Affaair
 Rita From Abuja Is Available For H00k Up This Week Before She Travels Out
Rita From Abuja Is Available For H00k Up This Week Before She Travels Out
 Becky From Lagos Is Looking For Cute And Vibrant Guy For A Se.x Relationship
Becky From Lagos Is Looking For Cute And Vibrant Guy For A Se.x Relationship
Hello Admin, Am Kate From Lagos, I Just Want To Say Thank You To Omolove For Hooking Me Up With A Guy
Hello Admin, Am Kate From Lagos, I Just Want To Say Thank You To Omolove For Hooking Me Up With A Guy
 Adults Only: Women open up on what turns them on
Adults Only: Women open up on what turns them on

0 comments:

Post a comment

 
OmoVibes © 2016. All Rights Reserved.
Top