Oando shares fell 28% since May even as the company returned to profit
Oando shares have fallen 28% since May despite a ₦44.53 billion quarterly profit, with liabilities still exceeding assets by ₦530 billion.
Omamofe Boyo
Nigerian oil tycoon Omamofe Boyo’s stake in Oando declines by $17.5 million
Boyo’s stake in Oando is held through his 33.33-percent position in Ocean and Oil Development Partners.
Nigerian oil tycoon Omamofe Boyo could go on trial in Milan over alleged fraudulent tanker deal
Boyo is the deputy CEO of Oando Plc and owns an indirect 19.1-percent stake in the company.