Two oando directors resign

According to recent reports, two directors of Oando Plc, a Nigerian oil and gas company, have resigned from their positions.

The two directors who have resigned are:

  1. Mr. Olumide Gbadebo: He was the Company Secretary and a non-executive director of Oando Plc. Gbadebo has been with the company for over 10 years and has played a key role in its corporate governance and regulatory compliance.
  2. Mr. Olalekan Olagunju: He was a non-executive director of Oando Plc. Olagunju has extensive experience in the oil and gas industry, having worked in various capacities, including as a former Managing Director of the Nigerian National Petroleum Corporation (NNPC).

The resignations of the two directors come at a time when Oando Plc is facing challenges, including a dispute with the Securities and Exchange Commission (SEC) over alleged financial irregularities. The company has been under intense scrutiny in recent months, with the SEC launching an investigation into its financial statements and corporate governance practices.

The resignations of the two directors may be seen as a significant development in the ongoing saga, as it could potentially impact the company's ability to navigate the challenges it is facing. However, it is too early to say what the full implications of the resignations will be, and the company will likely need to provide further updates on the situation in the coming days and weeks.