In its second annual general meeting held in Abuja on September 15, 2023, BUA Foods Plc, a prominent player in Nigeria's fast-moving consumer goods (FMCG) industry, garnered shareholders' approval to distribute a dividend of N4.50k per share. Moreover, the company reaffirmed its dedication to collaborating with the Federal Government to enhance food security nationwide. The |
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Oando and SEC in legal deadlock: Oando appeals court ruling
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On Thursday, February 25, 2021, in a ruling presided over by Justice Giwa Ogunbanjo at the Federal High Court, Abuja, the judge declined jurisdiction to hear suits brought by Oando PLC and its directors against the Securities and Exchange Commission (SEC). The judge stated that the Investment and Securities Tribunal (IST) would be the appropriate forum to hear the matter.
The basis for the Court’s decision is Section 36(2) of the Constitution which allows aggrieved individuals to first approach any tribunal or administrative agency to determine civil rights and obligations as long as that process and the resulting decision is not final. The Court also reiterated that the IST has primary jurisdiction over Oando and its directors in respect of capital market issues and not the Federal High Court.
Daily Post Nigeria
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On Thursday, February 25, 2021 in a ruling presided over by Justice Giwa Ogunbanjo at the Federal High Court, Abuja, the judge declined jurisdiction to hear suits brought by Oando PLC and its directors against the Securities and Exchange Commission (SEC). The judge stated that the Investment and Securities Tribunal (IST) would be the appropriate forum to hear the matter.
The basis for the Court’s decision is Section 36(2) of the Constitution which allows aggrieved individuals to first approach any tribunal or administrative agency to determine civil rights and obligations as long as that process and the resulting decision is not final. The Court also reiterated that the IST has primary jurisdiction over Oando and its directors in respect of capital market issues and not the Federal High Court.
Deadlock in SEC case as Oando appeals court ruling today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.