Despite strong indications that Oando is an honest, properly run organization with shareholders who trust and believe in its leadership, the SEC have tried to undermine not just the company, but also foreign confidence in our economy. It’s time we begin to intentionally ask that the SEC become transparent about this probe and really mention what’s going on.
Since its shares began trading again, its witnessed an impressive rise in share price and shareholders are generally excited. Looking at all these, one begins to wonder what the essence of the probe is.
While the probe is ongoing, Oando also announced four profits in a row from its FYE 2016 results to its Q3 2017 results. More recently the company commissioned its new office building, the Wings Office Complex, a two 12-story building which also offers a world-class indoor event space, a one-of-a-kind space that can hold up to 300 people and an outdoor waterfront area with a hosting capacity of 200 people and overlooks Lagos State’s waterways. The building will not only act as the company’s new state of the art head office but will also be an additional revenue generator from its 27,000m2 worth of lettable office space.
Oando is a strong indigenous company and we shouldn’t allow individual interests or the interest of a particular group to undermine what could be Nigeria’s brightest example of grit and enterprise.