Trading resumed at NGN 6.30 (USD 0.017), up from NGN 5.99 (USD 0.016) before the freeze. The suspension was reinstated Wednesday due to another order from the SEC, but the Lagos stock exchange said it had been resolved and trading would resume Thursday.
The company said its board of directors had approved the 2017 audited financial statements on Tuesday and would file them by the second week of May.
In July 2017, the SEC opened an investigation into the company’s financial statements based on allegations from foreign investors about the shareholding structure after the company acquired assets from ConocoPhillips in 2014. In March 2018, the SEC asked Deloitte to do a forensic audit of Oando to investigate the complaints of a shareholder. The audit had twice been suspended previously due to lawsuits.
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
This website uses cookies.