The end, it appears, now stares Wale Tinubu and his Oando group in the face.
Indeed, for the duo, it’s continued to be one week one trouble.
Mr. Tinubu’s world started crumbling and tumbling after he fell out with some Oando shareholders.
Then, the troubled company’s Annual General Meeting which narrowly escaped being totally halted in Akwa Ibom State after a shameful protest by some people alleged to be aggrieved shareholders.
Smarting from that, the Securities and Exchange Commission, acting on petitions bordering on alleged malpractices against the company and the MD, suspended their shares.
Unfortunately, while that was yet to be fully resolved, the Johannesburg Stock Exchange in South Africa again wielded the big stick, still on allegations of irregularities.
Now, more dirty details are beginning to emerge on some alleged wrongdoings at Oando. Denting both the company’s image as well as the once-upon-a-time celebrated CEO, Mr. Adewale Tinubu.
Born on June 26, 1967, he attended the University of Liverpool and London School of Economics, where he read Law.
He teamed up in 1994 with two of his friends, Mofe Boyo and Jite Okoloko to float Ocean & Oil Group, an oil trading and transportation firm.
Not long after, they acquired government’s stake in Unipetrol Nigeria and Agip Nigeria, transforming both to Oando.
Everything seemed to be going on well for them until recently when things began to fall apart and the center can no longer hold.
Repeatedly accused of fronting for his uncle, Asiwaju Bola Ahmed Tinubu, an APC stalwart, he is married to Bola, incidentally, and blessed with children.