Oando Sacks 2 Departments Over Alleged Sharp Pratise, As Wale Tinubu Sells Off Properties To Make Up For Losses!

Ocean and Oil Plc, led by Mr Wale Tinubu just made a drastic move.

The firm sacked all of two departments over alleged sharp practise.

The affected departments are given as Marketing and Investor Relation (Corporate Communication).

Information made available revealed that the management laid off all staffers of these departments over allegations of engaging in acts that led in loss of earnings for the company.

The workers of the affected units described as over 30 (all together) where reportedly laid off in batches to arrest the situation.

The head of the departments were not spared.

Sources alleged the departments were alleged to have become so grounded in and entwine in the company’s operations that, side businesses that skimmed off company’s profit became the order of the day.

And it became very apparent on the balance sheet.

Discreet findings revealed the anomaly and headman, Wale Tinubu took the drastic decision to correct the situation.

Sources further revealed however before the development came to the fore, huge losses had been recorded.

And in a bid to put the company’s operations back on course Mr Tinubu initiated personal strategy to offset the clear the debts.

He is said to be selling off properties home and abroad to clear the losses- and provide needed finances to stabilise.

His private jet, homes in South Africa and Nigeria and a couple of investment stock.

Information revealed that the battle to reposition Oando is still on.

Meanwhile more digs revealed a recruitment drive replacing the offloaded staffers is on at present.