SEC to go ahead with forensic audit on Oando

The Securities and Exchange Commission on Tuesday said it was going ahead with its planned forensic audit on Oando Plc.

SEC said it had communicated its decision in a letter sent to Oando management on Tuesday.

The commission reiterated its intolerance of infractions in the Nigerian Capital Market.

The decision by SEC to investigate the activities of Onda is coming days a week after its Director General Mounir Gwarzo was suspended by Finance Minister, Kemi Adeosun to allow for investigation into allegations of impropriety against him. The FG appointed Dr. Abdul Zubair to act in his stead.