June 24, 2019 / 12:05 PM / 24 days ago

Nigerian court adjourns Oando case against securities regulator to 22 July

The logo of Oando oil company is pictured in Abuja, Nigeria January 23, 2018. REUTERS/Afolabi Sotunde/File Photo

LAGOS (Reuters) - A federal court in Lagos on Monday adjourned until 22 July a case brought by local oil firm Oando to halt management changes the country’s securities and exchange commission is trying to enforce.

The SEC’s action followed an investigation in which it allegedly found evidence of financial infractions by the company.

This month a court blocked the SEC from replacing Oando’s chief executive and taking other action against the oil firm, pending further hearings on the case.

Reporting by Alexis Akwagyiram and Libby George in Lagos; ; editing by John Stonestreet

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