Regulatory Alerts2021-03-26
Motion for Injunction and Stay of Execution – Engineer Patrick Ajudua Vs SEC & OANDO Plc
The Securities and Exchange Commission (SEC) is seeking an injunction and stay of execution regarding a court judgment delivered on February 23, 2021, citing a lack of service of court processes and ongoing appeals in related matters. The SEC contends that the original lawsuit filed by Engineer Patrick Ajudua was pursued in bad faith and challenges the court's jurisdiction over regulatory directives concerning Oando Plc. The commission argues that granting the stay of execution is necessary to preserve the status quo and prevent irreparable damage to the integrity of the Nigerian capital market.
Share