The Securities and Exchange Commission, SEC, has insisted the suspension of Annual General Meeting of Oando Plc in 2017 remains in place despite recent court ruling.

SEC in a statement on Friday said due conflicting courts ruling in cases challenging its directives, the suspension order remains.

The Commission stated: “In view of the conflicting judgments of the High Courts of coordinate jurisdiction, the Commission hereby advises the public that in line with the law (please see Vaswani Trading Co. v. Savalakh & Co. (1972) NSCC 692 and Ojukwu v. Military Governor of Lagos State (1986) 1 NWLR (Pt 18) 621) and the pending appeals/applications for stay of the various judgments, parties and relevant stakeholders are enjoined to maintain status quo, which includes the suspension of the Annual General

Meeting, pending the determination of the cases and the appeals.