Continue playing Public Procurement Act - Reps Summon Adeosun Over Alleged Violation You may also like Watch again Public Procurement Act - Reps Summon Adeosun Over Alleged Violation You may also likeThe statement reads: “We wish to bring the attention of His Excellency President Muhammadu Buhari, Vice President Yemi Osinbajo and all Nigerians to the unwholesome, unpatriotic and strange actions of the Minister of Finance, Mrs. Kemi Adeosun with regards to the probe of Oando Plc.”Speaking on behalf of the groups, Oderinde said: “You may recall that since early last year, Oando has been enmeshed in series of crises bordering on abuse of corporate governance and alleged gross financial mismanagement. “The internal auditors of Oando Plc, Messrs Ernst & Young, in the company’s financial report last year expressed doubts over its ability to continue as a going concern because its liabilities exceeded its assets. These include insider trading, decoration of dividends from unrealised profits, release of false financial statements to the public and the disposal of assets without the knowledge of the regulatory body in contravention of the Investment and Securities Act (ISA) 2007, among several other infractions. “These weighty findings compelled the suspension of Oando shares on the floor of the Nigerian Stock Exchange and the Johannesburg Stock Exchangeto pave way for a more thorough investigation.”

Source: The Guardian April 16, 2018 04:30 UTC