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Oando and SEC in legal deadlock: Oando appeals court ruling

Vanguard News Oando and SEC in legal deadlock: Oando appeals court ruling On Kindly Share This Story: 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.

Abuja federal capital territoryFederal republic of nigeriaJustice giwa ogunbanjoPatrick ajuduaAlhaji kabiru tambariPatrick ajiduaAlhaji yakubu gumelAlhaji tambari kabiruTunde badmusJustice oa musaExchange commissionPacesetters shareholders associationCapital territory high courtExchange commission theHigh court kanoSokoto zone shareholders association

Deadlock in SEC case as Oando appeals court ruling

Daily Post Nigeria Published 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.

Abuja federal capital territoryFederal republic of nigeriaJustice giwa ogunbanjoPatrick ajuduaAlhaji kabiru tambariPatrick ajiduaAlhaji yakubu gumelAlhaji tambari kabiruTunde badmusJustice oa musaExchange commissionPacesetters shareholders associationCapital territory high courtExchange commission theHigh court kanoSokoto zone shareholders association

Multiple Oando shareholders challenge SEC as court restrains commission from carrying out actions against firm

TODAY February 25, 2021 The Securities and Exchange Commission (SEC) was slammed another lawsuit by displeased shareholders of Oando PLC. The shareholders filed for an interim order restraining SEC, its agents or representatives from acting on its May 31, 2019 letter sanctioning the Management of Oando. The order was granted and present in court were lawyers for both SEC (Usman Umar Fari esq) and the shareholders. The order restrains the SEC, its agents or anyone acting on behalf of the commission from disturbing or meddling with the affairs, management and activities of Oando PLC. It also restrains the SEC’s purported interim Management from meddling in the administration and activities of the company as well as an order restraining SEC from interfering with the shareholder’s exercise and performance of their statutory powers and duties as shareholders.

Patrick ajiduaPatrick ajuduaJustice oa musaExchange commissionHigh courtUsman umar fariAnnual general meetingHonorable justiceநீதி ஆயே மூசாபரிமாற்றம் தரகுஉயர் நீதிமன்றம்உஸ்மேன் உமர் பரிஆண்டு ஜநரல் சந்தித்தல்கெளரவமான நீதி

Deadlock in SEC case as Oando appeals court ruling

Deadlock in SEC case as Oando appeals court ruling
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Abuja federal capital territoryFederal republic of nigeriaJustice giwa ogunbanjoPatrick ajuduaAlhaji kabiru tambariOando wikipediaAlhaji tambari kabiruPatrick ajiduaAlhaji yakubu gumelTunde badmusJustice oa musaExchange commissionPacesetters shareholders associationCapital territory high courtExchange commission theHigh court kano

Court restrains SEC from carrying out actions against Oando as multiple shareholders sue

Court restrains SEC from carrying out actions against Oando as multiple shareholders sue
thecable.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecable.ng Daily Mail and Mail on Sunday newspapers.

Patrick ajiduaJustice oa musaExchange commissionHigh courtUsman umar fariAnnual general meetingHonorable justiceநீதி ஆயே மூசாபரிமாற்றம் தரகுஉயர் நீதிமன்றம்உஸ்மேன் உமர் பரிஆண்டு ஜநரல் சந்தித்தல்கெளரவமான நீதி