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Oando Crisis Latest

Wale Tinubu, Chief Executive Officer of Nigeria’s oil firm, Oando Plc, has reconciled with an estranged shareholder of the company, Dahiru Mangal.

A notice posted by the company to the Nigerian Stock Exchange, NSE, on Monday said the peace accord was mediated by Emir Muhammadu Sanusi, the Emir of Kano, and was concluded on January 7, 2018.

The notice also said that Mr. Mangal had withdrawn his petition to the Securities and Exchange Commission, SEC.

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Oando and Mr. Mangal were last year engaged in controversy over the shareholding status of the business man in the oil firm.

Mr. Mangal later petitioned the SEC and prompted the regulatory agency to order the suspension of the company’s shares on the NSE.