Oando to settle out of court with investor, amid $680m debt owned by Wale Tinubu

September 1, 2021

Oando Plc has agreed to settle the dispute between the company and its aggrieved investors, Alhaji Dahiru Mangal and Ansbury Inc., a major investor in investment vehicle, Ocean and Oil Development Partners Limited (OODP BVI).

Ansbury and Alhaji Dahiru Mangal, had filed petitions against Oando to the Securities and Exchange Commission of Nigeria (SEC), according to a statement sent to the Nigerian Exchange Group on Tuesday.

What you need to know about OODP BVI

OODP BVI, the majority shareholder of Ocean and Oil Development Partners Nigeria Limited (OODP Nigeria) is owned by Wale Tinubu and Boyo. They acquired 30 percent controlling stake in Unipetrol Plc in 2000.

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