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OANDO HOLDS ANNUAL GENERAL MEETING -Shareholders applauded Wale Tinubu led Management

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Oando plc has finally  successfully concluded its long-awaited 42nd Annual General Meeting (AGM), at the Wings Office Complex, Victoria Island, Lagos, the meeting was held today  Tuesday, August 31, 2021
The company’s AGM comes in the wake of an out-of-court settlement with the Securities and Exchange Commission (SEC) who hitherto, suspended the company’s AGM in 2019.
In line with COVID restrictions on large gatherings, shareholders were represented by proxies of their various associations at the AGM. Leaders of the various shareholders and proxies, including Engr. Patrick Ajudua, Alhaji Kabiru Tambari and Boniface Okezie, were united in their support for the company and applauded the management team for resolving its dispute with the regulator, thereby enabling them gain oversight into the company’s activities.
They further encouraged management to keep up the good work and focus on creating value for shareholders.
In his address and response to shareholders observations and inquiries by those present and streaming the event live, the Chief Executive, Jubril Adewale Tinubu, commented on the financials and quarterlies pending release and publishing since 2018.
He stated that the publishing of three quarterly results in 2019 was underway but it was eventually suspended due to the fact that under the SEC regulations, quarterlies cannot be published in the absence of an audited base.
Furthermore, he assured that over the next six months, there would be rapid disclosure information as the company would be rounding up with the audit and release of the financials from 2019 to 2020, after which the company will be prepared and ready to be compliant by June of 2022 to provide 2021 financials as at when due.
In his comment, he stated that, upon the approval of “the 2019 financials, the quarterlies will be released immediately, the audits will be completed and the notice for the 2020 financials to be done will be published, so that the quarterlies for 2020 can be released.”
Other resolutions passed at the AGM include the re-election of directors, the election of members of the audit committee and the approval of non-executive directors’ remuneration.
Three (3) directors were re-elected by shareholders present and through proxy, including HRM Oba M.A. Gbadebo. The annual remuneration of the Chairman was fixed at N5 million, while for other non-executive directors, it was fixed at N4 million.
A resolution was also passed to give directors the mandate to authorize transactions with related parties and interested persons. In addition, Ernst and Young was re-appointed as auditors of the company.

Speaking at the AGM, Patrick Ajudua said: “I thank the management of Oando for remaining resilient during the trying period. They worked tirelessly to see us through these issues. It is in light of this that we, the shareholders, are delighted and supportive of the management.”
All resolutions passed at the AGM were approved including the re-appointment of Ernst and Young as auditors, the Directors were authorized to fix the auditors remuneration; election of Dr. Ainojie Irune to the Board of Directors; re-election of HRM M.A. Gbadebo (CFR), Mr. Olufemi Adeyemo and Mr. Tanimu Yakubu as Directors; election of audit committee members, and approval of the remuneration of non-Executive Directors.
One topic that resonated with all shareholders at the meeting was the need for dividends in the near future. Speaking on this, Mr. Sunny Nwosu an Oando shareholder said: “The best thing that would happen to us following the resolution of the SEC dispute is to declare a dividend for shareholders. It will be in the interest of shareholders if this is brought up at the next AGM.”
In his response to shareholders’ comments, Adewale Tinubu, the GCE, Oando PLC, said; “Teamwork, Respect, Integrity, Passion and Professionalism are things (core values) we take seriously.
Our ethos as a corporation has been driven by these values, and the company has evolved and succeeded year after year. The ultimate test of our capacity to be sustainable is having challenges.
We’re ready to face them and deal with them when they come; ready to ensure that we apply these same principles and maxims in dispute resolution. We appreciate everyone who played an active role in enabling us to reach a resolution with the SEC.”
He assured the shareholders of management’s commitment towards creating value for and protecting the interest of all shareholders.

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JUST IN: President Tinubu Orders Yahaya Bello To Submit Himself For EFCC Probe

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The Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, has called on the immediate-past governor of Kogi State, Alhaji Yahaya Bello, to follow the path of decency and submit himself for probe.

Bello is being wanted by the Economic and Financial Crimes Commission (EFCC) over alleged corrupt practices while in office as governor of Kogi State

 

LEADERSHIP reports that in the last 24 hours, there have been dramas and hide and seek game between both parties over the move to arrest the former governor for arraignment this Thursday.

 

According to the AGF, in a statement he personally signed on Thursday, EFCC is empowered by law to invite any Nigerian for interrogation.

He also described the action of the incumbent governor of Kogi State, Ahmed Ododo, who used his immunity to prevent Bello’s arrest on Wednesday as ‘disquieting’, adding that embarking on a temporising self-help and escapism that can only put Nigeria in bad light before the rest of the world is not the way to go.

According to him, he stands for the rule of law and will ensure no right of any Nigerian is trampled upon.

 

 

The AGF said in the terse statement: “The bizarre drama confronting the Economic and Financial Crimes Commission (EFCC) in the course of its efforts to perform its statutory duty has come to my notice (Attorney General of the Federation and Minister of Justice) as a matter of very grave concern.

“It is now beyond doubt that the EFCC is given power by the law to invite any person of interest to interact with them in the course of their investigation into any matter regardless of status. Therefore, the least that we can all do when invited, is not to put any obstruction in the way of EFCC but to honourably answer their invitation.

“A situation where public officials who are themselves subject of protection by law enforcement agents will set up a stratagem of obstruction to the civil and commendable efforts of the EFCC to perform its duty is to say the least, insufferably disquieting. A flight

from the law does not resolve issues at stake but only exacerbates it.

 

“I state unequivocally that I stand for the rule of law and will promptly call EFCC and indeed any other agency to order when there is indication of any transgression of the fundamental rights of any Nigerian by any of the agencies but I also tenaciously hold the view that institutions of State should be allowed to function effectively and efficiently. Nigeria has a vibrant judicial system that is capable of protecting everyone who follows the rule of law in seeking protection.

 

“I therefore encourage anyone who has been invited by the EFCC or any other agency to immediately toe the path of decency and civility by honouring such invitation instead of embarking on a temporising self-help and escapism that can only put our country in bad light before the rest of the world.

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SHALINA CELEBRATES 40 YEARS OF TRUST, REITERATES COMMITMENT TO QUALITY HEALTHCARE DELIVERY IN AFRICA

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In celebration of its 40 years in Africa, a leading Afro-focused multinational company, Shalina Healthcare has reiterated its commitment to the delivery of quality healthcare in Africa. Declaring this in Lagos on Friday at the event to wrap up the company’s 2023/24 financial year and celebrate its 40 years of its existence, the Chief Commercial Officer, West Africa of the company, Arun Raj said the company “is determined to continually fulfill its corporate mission of making quality products available to every African at affordable prices.

 

According to him; ” It has been 40 years of trust in Africa and these 40 years, the people of the continent have also reciprocated the trust in our quality products and healthcare delivery.”

 

Also, in his corporate presentation as well as new financial year projection, the Head, Corporate Marketing of the Company, Folorunso Alaran said; “the Company is building on the trust Africans have in its products and services over the year and is committed to healthy Africa. It has been forty years of available, affordable and quality products for Africans.”

In the words of Mr. Nirmal Jain CEO Shalina consumer Global,

 

“At Shalina, we believe that every African must have access to good products. And for the last forty years, we have been trusted for our quality products. And more so, through our many initiatives and healthcare interventions, Shalina has continually raised the bar in healthcare delivery.”

 

Speaking further, Mr. Debajeet Mukherjee CEO Shalina Pharma Global, posited that; “despite the prevailing economic challenges, we do not waver in delivering our corporate purposes of available, affordable and quality health products. It is our belief that economic challenges should not hinder people’s access to quality healthcare. Either the economy is good or bad, it shouldn’t affect the lives of the people in an adverse way. Despite the fact that some companies are leaving Nigeria, we are expanding our team in the country. This is because we have trust and believe in Nigeria.”

 

In her own presentation at the event, the Company’s Managing Director, Nigeria , Opeyemi Akinyele said the company “is focused to become number one brand in Nigeria and continually promote the best of healthcare delivery in the country. ”

 

“Through our products, activities and interventions we have been doing greatly to ensure that quality healthcare is available and affordable for every citizen. And this is a promise that will remain unbroken ” She said.

 

Appreciating the members of staff of the company for their commitment and supporting roles in the company, Akinleye said “without you, your roles and efforts, we won’t be here and the successes recorded in the out gone year won’t be possible. We also rely on your continuous support and commitment in the new year. ”

 

Meanwhile as part of the company’s end of year activities, many staff members were given awards of excellence in different categories for 2023/24 financial year. Amongst them were Lasisi Abiodun, Best Pharma Delegate, Lawal Abubskar, Best Medical Delegate, Ruth Adesua Adewoye, Best Regional Manager Pharma, Ganiyu Lateef, Best CVD Delegate, Mercy Omoji, Best Regional Manager, Consumer, Uzuma Pascal, Best Zonal Manager, (Global) and Juliet Ngozi Edward, Best Consumer Delegate Global . Winners in other categories included Sandeep Sahu, Folorunso Alaran, Emeka Adimoha, Chiuba Nwaosu among others.

 

Shalina Healthcare which began its business in Africa in DR Congo in 1984 made entry to Nigeria 25years ago. It currently has about 2500 staffs globally out of whom 2000 are in Africa.

 

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Kano court affirms Ganduje’s suspension

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The Kano State High Court has granted an ex parte order restraining the National Chairman of the All Progressives Congress, Abdullahi Ganduje, from parading himself as a member of the party.

Subsequently, the court ordered that henceforth, Ganduje should desist from presiding over all affairs of the National Working Committee of the APC.

The application granted by Justice Usman Na’abba on Tuesday followed an ex parte motion filed by Dr. Ibrahim Sa’ad on behalf of two executive members of Ganduje’s ward, Dawakin-Tofa Local Government Area, the Assistant Secretary, Laminu Sani and Legal Adviser, Haladu Gwanjo (plaintiffs), who were part of the nine ward executives who suspended Ganduje on Monday.

The court directed the four parties (respondents) joined in the matter, including the APC, NWC, APC Kano State Working Committee, and Ganduje, to henceforth, maintain status quo ante belum as of April 15, 2024, pending the hearing and determination of the substantive suit on April 30, 2024.

Justice Na’abba, also held as prayed, stopped State Working Committee APC Kano from interfering with the legally and validly considered decision of executives of Ganduje ward, essentially on action endorsed by a two-thirds majority of the executives as provided by the party constitution.

The ex parte order read,, “An order is hereby granted directing all parties in the suit APC (first), APC National Working Committee (second), Kano State Working Committee APC (third), Dr. Abdullah Umar Ganduje (fourth), to maintain status quo ante belum as of April 15, 2024.

”The order thereby restraining the first respondent (APC) from recognising the fourth respondent (Ganduje) as a member of APC and prohibiting the fourth respondent (Ganduje) from presiding over any affairs of the NWC and restraining the state Working Committee from interfering with the legally and validly decision of the ward executives of Ganduje ward.

“That the fourth respondent (Ganduje) is prohibited from parading himself as a member of APC or doing any act that may portray him or seem to be a member of APC pending the hearing and determination of the substantive suit.”

Nine members of the Ganduje ward proclaimed the suspension of the National Chairman of the APC over the allegation of corruption slammed on him by the Kano State Government.

The nine APC executives said they were prompted to act following a petition written by one Ja’afaru Adamu, a member of the APC from the National Chairman’s polling unit.

In the petition, Adamu complained over allegations of corruption charges against the former governor just as he urged the ward leaders to investigate the matter to redeem the dented image of the party and the implication on President Bola Tinubu’s fight against corruption.

Although the chairman and secretary of the ward failed to act on the petition filed on April 8, 2024, nine members of the executives, led by the legal adviser, acted upon the petition, a decision that led to Ganduje’s suspension.

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