SEC: We Are Committed to Conducting Forensic Probe into Oando

Reps demand recall of suspended SEC DG

The Securities and Exchange Commission (SEC) on Tuesday restated its decision to conduct a forensic exercise into the activities of Oando Plc.

Meanwhile, the SEC, yesterday, stated that it will go ahead with the conduct of a forensic exercise on Oando Plc despite the suspension of Gwarzo.

Gwarzo was earlier suspended by the Minister of Finance, Mrs Kemi Adeosun, on Wednesday, November 9, over the allegation of financial impropriety and to allow for an unhindered investigation of several allegations of financial impropriety leveled against him.

Funds missing under his watch so far runs into billions preliminary investigation, has shown unofficially.

Suspended alongside Mr. Gwarzo were two officials of the regulatory commission, Abdulsalam Habu, Head of Media Division, and Anastasia Braimoh, Head of Legal Department.

In a statement by Head of Corporate Communications, Securities and Exchange Commission (SEC), Bagudu Waziri, the apex capital market regulator assured the general public of its zero tolerance to infractions in the Nigerian capital market. Nigerians should know why the minister can not be investigated.

In his remarks, Sani Kaita (APC, Katsina) pointed out that SEC is a very sensitive and very important organisation to Nigeria and the worldwide community and the House should be involved in the investigation of the issues.

However, while these and other allegations were being probed, a petition was filed against Gwarzo for paying himself a severance package as a former executive commissioner of SEC, a position from where he was made DG.

AI.type Keyboard App Leaks 31 Million Users' Personal Data
Accompanying the numbers were the make and model of the device, its screen resolution and the version of Android it was running. There's more in the full blog post, but the long and the short of it is that these users are utterly exposed.

However, it lost this bid at the court because the presiding judge, Justice Mohammed Aikawa, threw out the case for lack of jurisdiction, advising Oando to take the matter to an Investment and Securities Tribunal (IST), which has the powers to hear disputes arising from the capital market.

That the commission is not aware of the existence of any valid or subsisting order of court restraining the commission from proceeding with the forensic audit.

The suspension, according to SEC, was to enable it to conduct a forensic audit into the affairs of Oando, which has dual listing on the NSE and JSE.

Daily Trust also discovered that Oando has filed a notice of appeal challenging the judgement of the high court.

The committee is expected to report back in two weeks.

"The Nigerian people should be told why the infractions of Oando would be swept under the carpet".

Effort to get Oando's spokesperson, Alero Balogun to hint at the company's next line of action did not yield result as he was said to be in a management meeting up to the time of filing this report.


  • Determined half of the participants of the playoffs of the Champions League

    Determined half of the participants of the playoffs of the Champions League

    The first-legs will take place on February 13/14 and 20/21 , with the second-leg games due to be played on March 6/7 and 13/14 . No club can be drawn against a team they played in their group, nor against any side from their own association.
    Labor Senator Katy Gallagher revealed to be dual citizen

    Labor Senator Katy Gallagher revealed to be dual citizen

    All federal parliamentarians have now submitted their family records as part of the new citizenship disclosure regime. She obtained British citizenship through her British-born father Charles Gallagher.
    Houston Texans' JJ Watt named SI's Sportsperson of the Year

    Houston Texans' JJ Watt named SI's Sportsperson of the Year

    Watt and Altuve will be honored on Tuesday at Barclays Center in NY during the SI's Sportsperson of the Year Award Show. At 5-foot-6, Jose Altuve is often the shortest person in photos, especially when he's standing next to other athletes .
  • France's king of rock Johnny Hallyday dies aged 74: Wife

    France's king of rock Johnny Hallyday dies aged 74: Wife

    His last roles were in the 2017 comedies Chacun Sa Vie Et Son Intime Conviction and the Guillaume Canet-directed Rock 'n Roll . Hallyday had long suffered from lung cancer and had repeated health scares recently.

    Could Valero Energy Corporation (NYSE:VLO) Change Direction After Less Shorts?

    US Capital Advisors cut Valero Energy from an "overweight" rating to a "hold" rating in a report on Thursday, August 17th. They were forecasting US$0.75 per share three months ago. 11,738 were accumulated by Alpha Windward Ltd Liability Corp.
    40 personas están vinculadas a trama de Andorra — Fiscal Saab

    40 personas están vinculadas a trama de Andorra — Fiscal Saab

    Es acusado por los delitos de legitimación de capitales, asociación para delinquir y corrupción impropia . El Fiscal General aseguró que la antigua gestión del MP "engaveto" este caso.
  • Wasatch Advisors Inc Now Owns 2185154 Shares In Eagle Bancorp, Inc. (EGBN)

    The stock has "Buy" rating by Stifel Nicolaus on Wednesday, November 1. (NASDAQ: EGBN ) on Tuesday, October 3 with "Hold" rating. The Elizabeth Park Capital Advisors Ltd holds 160,095 shares with $10.13 million value, up from 113,753 last quarter.
    US B-1B Bombers to Join Exercise in South Korea, Yonhap Says

    US B-1B Bombers to Join Exercise in South Korea, Yonhap Says

    North Korea warned that a mass air force drill this week would push the world to "the brink of nuclear war". Participating aircraft will takeoff from eight South Korean and US military installations.
    Yates resigns from TV show after making 'ill-considered remarks'

    Yates resigns from TV show after making 'ill-considered remarks'

    The presenter stepped down after coming under fire over the controversial comments, which he admitted had "hurt many people". But he has now issued a statement saying he will no longer host Top Of The Pops on the BBC.
  • Feds File New Charges Against Undocumented Immigrant In Kate Steinle Case

    Feds File New Charges Against Undocumented Immigrant In Kate Steinle Case

    Garcia Zarate's defense attorneys say they will appeal that conviction which carries a maximum penalty of three years in prison. His public defender Matt Gonzalez said Garcia Zarate will ask a judge to toss out the state conviction.
    Bitcoin price (BTC/USD): CBOE to launch BTC futures this week

    Bitcoin price (BTC/USD): CBOE to launch BTC futures this week

    The coin came within striking distance of $12,000 earlier today , notching up a new all-time high of $11,931.90. Trading will begin, under the ticker symbol "XBT", at the start of global trading hours at 6 p.m.

    Corning INC (GLW) Stake Maintained by Guggenheim Capital Llc

    They just need to take the company's market capitalization and divide it by the company's total sales over the past 12 months. Guggenheim reissued a "buy" rating and issued a $35.00 price target on shares of Corning in a report on Tuesday, August 15th.


Latest news

Pa. lawmaker brings meeting to halt after male colleague touches his arm
Metcalfe has repeatedly spoken out against homosexuality. "You could have knocked me over with a feather", Bradford told HuffPost. Like, if you want to touch somebody, you have people on your side of the aisle that might like it. "I don't", he continued.

Westbrook's triple-double leads Thunder past Jazz 100-94
He closed out the third quarter strong with 11 points, helping the Thunder cut Utah's lead to 80-68 by the end of the period. But with Utah seemingly poised for victory, the Thunder exploded in the fourth quarter, outscoring the Jazz 32-14 to win.

Duterte attaches 'terrorist' tag to CPP-NPA
The US said last February that it was keeping the CPP and NPA on its list. Medialdea has also issued a memorandum to Justice Secretary Vitaliano N.

Bryan Singer Fired From Queen Biopic Bohemian Rhapsody
The studio is expected to name a new director shortly, and the film is expected to be released in December 2018 as planned. Additionally, Singer and Malek are said to have had a confrontation that involved the director throwing an object.

Amazon Handmade goods available via Prime Now this Christmas
With the delivery services, Amazon Handmade is extending product availability through Christmas Eve on Prime Now . The Amazon Prime service includes member benefits such as, fast shipping, streaming, and gaming.

Terrorist plot to assassinate British PM foiled
A plot to assassinate British Prime Minister Theresa May has been foiled, Sky News reported on Tuesday, citing sources. The IRA had previously targeted prime minister Margaret Thatcher at the Conservative conference in Brighton in 1984.

McFarland Contradicted Herself on Russia Contacts, Congressional Testimony Shows
Court documents also said Flynn falsely claimed that he didn't ask Kislyak on December 22 to "delay a vote on or defeat" a U.N. Security Council resolution, and then falsely denied that Kislyak had described Russia's response to the request.

Takes $380000 Position in FleetCor Technologies, Inc. (NYSE:FLT)
Amalgamated Bancshares has 20,497 shares for 0.01% of their portfolio. 1,800 were accumulated by Macquarie Limited. (NYSE:FLT). Brown Brothers Harriman & Co increased Fleetcor Technologies Inc (FLT) stake by 101.91% reported in 2017Q2 SEC filing.

Toshiba to speed up payments for Vogtle
The Vogtle plant is the only nuclear generator under construction in the USA today after the cancellation of the V.C. To date, the owners have received $455 million in total from Toshiba parent guarantees for construction at Vogtle.

Okami's Amaterasu could come to Dota 2
Coffee Stain Studios and Adult Swim Games have submitted couriers based on the goat from Goat Simulator and Mr. Game crossovers are nothing new, but Capcom's way of getting Okami's Amaterasu into Dota 2 is a bit different.

May to reconvene Brexit talks with European Union this week
The European Commission said it is waiting for a sign from the United Kingdom government before Brexit negotiations can resume.

Pink's Dating Advice For Daughter Willow Is Actually The Best!
And I should, because it's disrespectful, but it's like - " fuck it ". "It's un-fucking-believable. Lastly, beyond the Pink gender-neutral comments, she revealed that her daughter calls U.S.

Comparable Company Analysis: Eastman Chemical Company (EMN), Patterson-UTI Energy, Inc. (PTEN)
The firm earned "Sector Perform" rating on Monday, March 28 by Howard Weil. (NASDAQ:STMP) rating on Thursday, September 14. The Sentry Select Capital Corp holds 1.06 million shares with $87.51 million value, up from 896,190 last quarter.

Pinnacle Associates Ltd. Acquires 3850 Shares of HD Supply Holdings Inc (HDS)
It has outperformed by 9.10% the S&P500.The move comes after 5 months positive chart setup for the $7.36 billion company. The company has a market cap of $6,762.19, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.82 and a beta of 1.40.

Statewide service to text 911 up and running
The ongoing cost of text-to-911 is $24,000 a month, according to a DPS spokesperson. The text service should only be used in emergencies, officials warn.

Other news