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Shareholders of Oando Plc from across the South-West states on Tuesday staged a protest in Ibadan, the Oyo State capital, and demanded that the company’s Managing Director, Wale Tinubu, should step down because of the firm’s poor financial position.

Making reference to the report of the last Annual General Meeting of the company, which was held in Uyo, Akwa Ibom State, where the External Auditor, Ernst & Young, stated that Oando reported a comprehensive loss in 2015 and 2016, the National President, Renaissance Shareholders Association, Olufemi Timothy; and the National Coordinator, Proactive Shareholders Association of Nigeria, Mr. Taiwo Oderinde, condemned the meeting, saying it was stage-managed to continue the mismanagement of the company’s finance by the current management.

Timothy stated, “Oando Plc is practically dead because it is no more a going concern. Its contemporaries are doing well and bringing glory to their shareholders. We are calling on President Muhammadu Buhari, the Financial Reporting Council of Nigeria, Nigerian Stock Exchange and the Senate Committee on Capital Market to intervene before it is too late.

“We are dying because our investments in the company have grown wings. The share we bought for N90 has come down to N5 under Wale Tinubu’s watch. A proper probe should be carried out. Tinubu should step aside. The company has gone with its current reported N263bn negative working capital.

“We worked hard to invest in the company but what did we get in return? Absolutely nothing! The poor shareholders are suffering and many have died. We have a lot of retired people dying because their investments have gone. Under the current management, Oando suffers a lot and we cannot tolerate it again.”

Oderinde said that Transparency International rated Nigeria poorly in its global corruption index because of alleged corrupt practices within institutions like Oando.

“Enough is enough and Wale Tinubu must go. If you go to the Transparency International’s website, you will see their rating of Nigeria on the global corruption index and it was stated therein that not only individuals are corrupt in Nigeria, but institutions too. Little did we know that TI was referring to companies like Oando,” he said.

The protesters also visited the NSE office in Dugbe, where the Branch Manager, Mr. Kayode Ogun, urged them to write a formal letter to the bourse, stating their demands, while calling on them to exercise restraint while the NSE looked into their petition.

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A new flavour from the stables of Nigerbev Limited, makers of Best alcoholic beverage, has been unveiled in Nigeria to the delight of their teeming alcoholic beverage lovers.

Best alcohol premium beverage aims to satisfy the taste buds of our esteemed customers and consistent with our pledge to provide Best products and exciting choices at all times, we have recently introduced a new variant called Best Honey cream made from soothing and comforting honey flavor which can be served chilled or with ice.

The product is now available in trade channels (open markets, supermarkets, neighborhood stores, bars, and restaurants)

Best Honey cream is Thick… Rich… Creamy…

Available in 750ml and 200ml #simplythebest

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It is believed that the 67-year-old former leader was attending a session in his trial on espionage charges on Monday when he collapsed and then died.

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The Supreme Court has fixed Monday (today) to hear the appeal filed by the candidate of the Peoples Democratic Party in the September 2018 governorship election in Osun State, Senator Ademola Adeleke.

The date of the hearing was contained in notices sent to parties to the suit, which also has the PDP as plaintiff, last week by the Registry of the Supreme Court.

Adeleke and the PDP are seeking the reversal of the May 9, 2019 majority judgment of the Court of Appeal, Abuja, which upheld the election of Adegboyega Oyetola of the All Progressives Congress as the Governor of Osun State.

The ruling of the Court of Appeal came after the March 22, 2019 judgment of the Osun State Governorship Election Petitions Tribunal, which ruled by split decision to give victory to Adeleke and the PDP.

Justices Peter Obiorah and Adegboye Gbolagunte, in the majority decision, upheld the petition, voided Oyetola’s victory and declared Adeleke of the PDP winner of the poll.

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Oyetola, APC and the Independent National Electoral Commission appealed the majority judgment at the Court of Appeal, Abuja, while Adeleke and the PDP appealed the minority decision.

On May 9, 2019, the Court of Appeal gave its decisions on the appeals, with four members of the five-man panel upholding the appeals by Oyetola, APC and INEC, and dismissing the cross-appeal by Adeleke and the PDP.

The Court of Appeal’s majority judgment set aside the majority judgment of the election tribunal, upheld the result as declared by INEC and affirmed Oyetola of the APC as the winner of the election.

Justices Jummai Sankey, Abubakar Yahaya, Isaiah Akeju and Bitrus Sanga gave the majority decision, while Justice George Mbaba gave the minority judgment, in which he dismissed the appeals and upheld the cross-appeal.

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