August 28, 2017/NSE Further to the initial press release by the Company (“the Company” or “Oando”) published on Friday, 14th July 2017 entitled ‘Oando PLC’s Official Statement on Claims of a SEC Investigation’ please find below an update: Two petitions were filed with the Securities and Exchange Commission (SEC) alleging […]
Frauds & Scandals
Heritage Bank MD, Others not Involved in N13Billion Fraud
August 28, 2017/Heritage Bank Ltd Our attention has been drawn to Sunday Punch Newspaper and other online news (Sunday 27th August) report of an alleged N13billion fraud involving the Managing Director and other staff members of the bank of funds belonging to the Oyo State government. The Management will want […]
Integrity in Development Projects: AfDB Debars Chongqing International Construction Corporation for Fraud
August 22, 2017/AfDB The African Development Bank Group (AfDB) on August 22nd, 2017, announced the debarment of Chongqing International Construction Corporation (CICO) for a minimum period of twelve months. An investigation conducted by the AfDB’s Office of Integrity and Anti-Corruption established that CICO engaged in a fraudulent practice in bidding […]
