Details As Alake Oba Adedotun Gbadebo, Ike Osakwe, 6 Other Directors Ordered To Refund N150M OANDO Benefits

Eniola Adeniyi

The hail of sanctions by the Securities and Exchange Commission that resulted in the recommendation of the sack of the Chief Executive Officer of OANDO Wale Tinubu and his deputy Mofe Boye is not limited to the two top men.

The information available to societynow.ng revealed that eight directors of OANDO including the Alake of Egba land Oba Adedotun Gbadebo are also ordered to refund One hundred and forty-five million, seven hundred and Sixty-Seven thousand three hundred and sixteen Naira (N145,767,316.)

The money which the SEC ordered to be repaid immediately is described as ‘’remuneration and other benefits paid above board charter’’.

The affected directors are Akinrele Ademola, Ammuna Alli, Engr Yusuf Njie, Ike Osakwe, Oghgho Akpata, Tanimu Yakubu, Chief Sena Anthony, and Oba Adedotun Gbadebo.

This recommendation is part an Audit process by SEC that recommends the sack and barring of Wale Tinubu and Mofe Boyo from holding top-level management position for the next five years after an investigation by the SEC into the activities of OANDO and the alleged discovery of certain infractions of securities laws by some members of the board.