No order to halt probe of Oando – Adeosun

The Minister of Finance, Mrs Kemi Adeosun said on Friday the government had not ordered a halt to an investigation of oil company Oando after she suspended the head of the Securities and Exchange Commission last week.

Forensic auditors have resumed work at the oil company, Adeosun said in a statement, adding that the ministry had approved the original decision to carry out the audit at Oando.

The minister suspended SEC Director General Mounir Gwarzo last week over allegations of financial impropriety, a month after Gwarzo started an investigation into Oando’s shareholding structure and froze trading in its shares.

Lawmakers are probing the suspension, saying that they would look into whether the ministry had interfered with the SEC’s work.

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