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Nigerian regulator lifts suspension on Oando shares

Isaac UmunnaComment(0)

Nigeria’s bourse lifted a suspension on the trading of shares in oil company Oando on Wednesday, following a directive from the Securities and Exchange Commission (SEC), the stock exchange said.

Trading on Oando shares had been frozen for six months on the Lagos stock exchanges after the regulator ordered the suspension to probe alleged insider trading and the oil company’s shareholding structure.

The shares resumed trade on Wednesday at 6.30 naira, after last closing at 5.99 naira six months ago. Reuters

 

Isaac Umunna

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