Court adjourns Oando case against SEC to 22 July

A federal court in Lagos on Monday adjourned until 22 July a case brought by local oil firm Oando to halt management changes the country’s securities and exchange commission is trying to enforce.

The SEC’s action followed an investigation in which it allegedly found evidence of financial infractions by the company.

This month a court blocked the SEC from replacing Oando’s chief executive and taking other action against the oil firm, pending further hearings on the case.

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