Shareholders Association slams SEC for ‘double standards’ in dealings with Oando

Nigerian oil company, Oando. [Photo credit: Guardian Newspaper]
Nigerian oil company, Oando. [Photo credit: Guardian Newspaper]

We the members of the Pragmatic Shareholders Association of Nigeria join Oando PLC, its management team and Board of Directors in calling the Securities and Exchange Commission (SEC) out for not availing our company with a fair hearing.

Like with Oando, SEC engaged an auditor to conduct a forensic audit into Ecobank Transnational Incorporated (ETI). However, there are major differences that show a lack of due process and fair hearing. We ask SEC to share Deloitte’s forensic audit to enable our company review and defend accordingly. A fair hearing is paramount.

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