Home SEC Vs Oando: Court adjourns to July 22

SEC Vs Oando: Court adjourns to July 22

Share
SEC Acting DG, Mary Uduk
Share

By Chioma Obinagwam

A Federal High Court sitting in Lagos has adjourned till fixed July 22 for the hearing of the substantive suit brought by two chief executive officers of Oando Plc, seeking enforcement of their rights.

The court also fixed July 4th to hear arguments on the motion for consolidation.

At the resumed hearing, Mr. Yele Delano (SAN) announced appearance for Oando and expressed the company’s intention to be joined in the suit as well as seeking a consolidation of similar suits, pending before the court.

Delano also sought an adjournment to enable him file his processes in the suit.

In response, counsel to SEC, Idigbe raised an objection to their request for joiner, on the grounds that it would pre-determine the respondent’s case.

He argued that the issue of application consolidation was intended to frustrate the case, thereby elongating the hearing of the case. He further argued that the party in question has not formally processed the application for consolidation, it was only a mere oral expression.

According to him, “My Lord, this matter was adjourned to today for hearing, and I am prepared to go on. The issue of consolidation of the cases is meant to accelerate the matter rather than taking it backward”.

He argued that if the court allows the joinder, it would have pre-determined the case of the defence and therefore urged the court to refuse the application.

On his part, counsel to the applicants, Mr. Tayo Oyetibo (SAN) argued in favour of the request for joining and urged the court to allow the party seeking to be joined in the suit.

According to him, if the court refuses the application for joinder, and the party goes on to appeal, then the applicant will be affected.

In a short consideration of the issues, the court held that it was far-reaching to think that the grant of an adjournment to enable a party file a motion, will be considered prejudicial to the defence.

On that note, Justice Ayokunle Faji adjourned the cased until July 4, to hear arguments on the motion for consolidation, and also fixed July 22, for hearing of the substantive suit.

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Business & Economy

‎𝗖𝗕𝗡 𝗵𝗼𝗹𝗱𝘀 𝗕𝗲𝗶𝗷𝗶𝗻𝗴 𝗿𝗼𝘂𝗻𝗱𝘁𝗮𝗯𝗹𝗲 𝘁𝗼 𝘀𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝗲𝗻 𝗡𝗶𝗴𝗲𝗿𝗶𝗮-𝗖𝗵𝗶𝗻𝗮 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗰𝗼𝗿𝗿𝗶𝗱𝗼𝗿‎

‎𝗖𝗮𝗿𝗱𝗼𝘀𝗼 𝘀𝗲𝗲𝗸𝘀 𝗳𝗶𝗿𝘀𝘁𝗵𝗮𝗻𝗱 𝗶𝗻𝗽𝘂𝘁 𝗼𝗻 𝗰𝗿𝗼𝘀𝘀-𝗯𝗼𝗿𝗱𝗲𝗿 𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗮𝗻𝗱 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝗹𝗶𝗻𝗸𝘀‎‎• ‎The Central...

Business & Economy

‎Dangote acquires 25 per cent stake in Kenya pipeline network‎

• ‎Aliko Dangote reveals a 25 per cent stake in a Kenya...

Business & Economy

‎FMDQ records ₦551.23 trillion turnover in nine months

· ‎FMDQ Exchange turnover reached ₦551.23 trillion between January and September 2026,...

Technology 

‎𝗜𝗫𝗣𝗡 𝘁𝗼 𝗵𝗼𝗻𝗼𝘂𝗿 𝗜𝗧𝗥𝗲𝗮𝗹𝗺𝘀 𝗳𝗼𝘂𝗻𝗱𝗲𝗿 𝗥𝗲𝗺𝗺𝘆 𝗡𝘄𝗲𝗸𝗲 𝗮𝘁 𝟮𝟬𝘁𝗵 𝗮𝗻𝗻𝗶𝘃𝗲𝗿𝘀𝗮𝗿𝘆‎

‎𝗚𝗮𝗹𝗮 𝘁𝗼 𝗺𝗮𝗿𝗸 𝘁𝘄𝗼 𝗱𝗲𝗰𝗮𝗱𝗲𝘀 𝗼𝗳 𝗡𝗶𝗴𝗲𝗿𝗶𝗮’𝘀 𝗶𝗻𝘁𝗲𝗿𝗻𝗲𝘁 𝗲𝘅𝗰𝗵𝗮𝗻𝗴𝗲 𝗴𝗿𝗼𝘄𝘁𝗵‎‎• ‎IXPN will...