Tag Archives: Sanctions

NSE Sanctions Oando For Delayed Filing Of Financial Results

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The Nigerian Stock Exchange (NSE) has sanctioned Oando Plc for delayed filing of its audited financial statements (AFS) for the year ended Dec. 31, 2014.

This is contained in a statement by the exchange on Tuesday in Lagos which said that the company was sanctioned for violations of post-listing obligations in accordance with applicable rules of the Exchange.

The statement said that the NSE was reviewing the situation regarding the delayed filing of the company’s AFS for 2014 financial year, first quarter and half years of 2015.

“The exchange is greatly concerned about the delayed filings and the significant losses which were posted for the 2014 fiscal year and the first three quarters of 2015,’’ it said.

It will be recalled that Oando filed its 2014 on Oct. 23, 2015 as well as its first quarter and half year 2015 interim unaudited accounts.

“Oando’s filing of its AFS and interim accounts followed several engagements with the Exchange both before and after the due dates for these filings,’’ it added.

The statement said that the exchange had invited Oando’s audit committee and its external auditors noting that the company would be penalised accordingly if the review revealed that it committed other infractions.

“The exchange has reported the situation to the Securities and Exchange Commission and will involve other stakeholders, as appropriate,’’ said the statement.

 

 

(NAN)

Committee Threatens Sanctions Against Violent House Of Reps Members

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As members of the House of Representatives resume plenary on Tuesday, the Adhoc Committee on Code of Conduct has warned returning members to behave orderly.

Plenary was cut short the last time the House sat on June 25 when some members attempted to seize the mace leading to a free-for-all fight between members loyal to Speaker Yakubu Dogara and Femi Gbajabiamila.

After the fracas, Mr. Dogara postponed plenary to July 28.

The ad hoc committee on code of conduct on Monday told returning members that it has been saddled with the responsibility of carrying out the functions of the Standing Committee on Ethics and Privileges.

The committee, in a notice signed by Aminu Shagari, called on members to conduct themselves in an orderly manner on Tuesday.

“The Committee will no longer tolerate any unruly behaviour by any member of the House no matter how highly placed,” he said.

Mr. Shagari also advised members who have grievances to explore peaceful avenues of seeking redress instead of resorting to violence on the floor of the House, or the precincts of the National Assembly.

“There are adequate sanctions in place to penalise any member who may want to disrupt the peace during plenary, Committee meetings or other legislative functions of the House.

“The House will deal decisively with any member who violates the rules, disrupts plenary, or is found wanting of misconduct and other sundry offences.

“Members are admonished to demonstrate high standards of ethics consistent with the important role of Lawmaking and the 8th Assembly Legislative Agenda which places emphasis on the wellbeing of the Nigerian people,” the statement read.

Credit: premiumtimesng

APC In Kwara, Lagos Clash Over Call For Sanctions Against Saraki, Dogara

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The All Progressives Congress, APC, in Kwara State has cautioned the Lagos State chapter of the party to halt making uninformed and unguarded comments on the emergence of the Senate President, Bukola Saraki, and the Speaker of the House of Representatives, Yakubu Dogara.

The party said the call by Lagos APC on the leadership of APC to punish the newly elected Senate President and the Speaker of House of Representatives ?is uninformed and unfortunate.

In a statement issued on Wednesday by the Publicity Secretary of APC in Kwara State, Sulyman Buhari, the party dismissed the statement by Lagos APC as unfortunate.

“It is quite unfortunate that Lagos APC recommended disciplinary actions against the Senate President and the Honourable Speaker without citing a provision of the APC constitution that has been contravened by these distinguished Nigerians and committed party leaders.

“?We advise the spokesman of Lagos APC to allow his comments to be guided by the Law and constitution of the Federal Republic of Nigeria rather than by emotions and sentiments.

“?And for the information of Nigerians, the spokesman of Lagos APC is on his own as we can authoritatively confirm that his sentiments and vituperation are not reflective of the position of Lagos APC on the inauguration of 8th National Assembly.

“The good news is that in Nigeria today, the Senate President and the Speaker of House of Representatives are members of our great party, the All Progressives Congress.

“It is expected that all leaders and members of our party support the duo of Senate President Saraki and Speaker Dogara to foster cordial relationship between the President Muhammadu Buhari-led administration and National Assembly, rather than an inordinate attempt to cause crises and instability.

“Meanwhile, ?it is a misrepresentation of fact and truth that the ascension of Senator Saraki as the Senate President was a PDP affair. The few Nigerians who have been portraying the emergence of the new Senate President as a PDP affair should be cautious. The actual fact, which nobody or propaganda can hide, is that Senator Saraki emerged Senate President with the support of Senators across political parties.”, the statement read.

Credit: premiumtimesng