Oando crisis: Adeosun under fire

South-South Coordinator of the Oando Shareholders Solidarity Group (OSSG), Mr. Clement Ebitimi, has called on President Muhammadu Buhari to sack the Minister of Finance, Kemi Adeosun, for meddling in the forensic audit of Oando Plc.  

Adeosun, it was alleged unearthed a previous petition against Mounir Gwarzo and suspended him as Director General of the Securities and Exchange Commission [SEC] because he demanded to be served in writing with her order to stop SEC’s forensic audit of Oando Plc. 

In a press release issued in Port Harcourt on Monday, Ebitimi said Adeosun has “lost the moral authority” to remain in President Buhari’s cabinet considering “her repugnant role in shielding the embattled management of Oando Plc from forensic audit in the face of the monumental abuse in the company”. 

Ebitimi, who led a group of shareholders to protest at Oando’s Annual General Meeting in Uyo, Akwa Ibom State in September said, “We condemn in strongest terms the recent suspension of the Director-General of the Securities and Exchange Commission (SEC), Dr. Munir Gwarzo, by the Minister of Finance, Mrs. Kemi Adeosun.”

According to him, facts in the public space have revealed that Mrs. Kemi Adeosun acted in her capacity as a federal minister to stall the impending forensic audit into Oando Nigeria Plc. “This is a gross abuse of power and an embarrassment to our corporate existence as a nation. It is shameful, totally embarrassing and should be condemned by all well-meaning Nigerians.”

The activist said Oando shareholders are deeply concerned about the plight of the company and strongly believe the only solution is for the intervention of the regulatory authorities as demonstrated by SEC under Gwarzo. 

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He said management of Oando has been mismanaging the company while they continue to buy the conscience of some powerful people to support the sustained mission of wrecking the company.

“Our questions to the Minister are: 1. what is your stake in Oando Nigeria Plc? 2. What is your relationship with Wale Tinubu? 3. How much are you being paid for this job and how much have you been promised? We need answers to these questions to clearly understand why the Minister would choose to provide the umbrella for corruption while Dr Gwarzo is bent on throwing light on the darkness that has engulfed Oando Nigeria Plc. 

“We all know that the only way to rescue Oando Nigeria Plc at this point in time is for the Wale Tinubu led management to resign and allow an unhindered forensic audit.  We want the management of Oando Nigeria Plc to resign and we call on the Minister of Finance, Kemi Adeosun to resign her position for gross abuse of public office or be sacked by President Buhari who is not known to condone corrupt practices and abuse of public trust as brazenly exhibited by Adeosun.”