Operatives of the Nigeria Police Force have taken over the head office of Oando PLC in Victoria Island Lagos.
Employees of the company have, therefore, been forced to stay out of work.
The Securities and Exchange Commission had said it had set up an interim management team to oversee the affairs of Oando following the suspension of company’s Group Chief Executive Officer, Mr Wale Tinubu.
Other board member were also suspended.
ElombahNews had reported on May 31 that the Securities and Exchange Commission (SEC) barred Wale Tinubu, chief executive officer of Oando Plc, from being a director in public company for the next five years.
In a statement made available on Friday, the commission said an extraordinary general meeting should be convened before July 1 to appoint new directors.
Read the press release on investigation of OANDO PLC below: