Oando: Under Investigation by SEC

In an announcement the Securities and Exchange Commission of Nigeria has stated that Oando Plc is under investigation.

The reason for the investigation and its scope remain a mystery at this point.

However, after press coverage of the annnouncement the Oando PR machine belatedly started rolling and issued a statement decrying “media houses” for reporting the announcement as it was not “balanced”.

This has to be the worst defence and public relations exercise that could have been mounted. If no one is willing to detail why Oando are being investigated (the statements from the SEC and from Oando are detail free zones) then surely we are all free to discuss and speculate.

Either the SEC has erred in issuing the statement of investigation or the Oando PR machine is at fault for not managing the situation. It is certianly not the fault of the free press for reporting the statements that both organisations have issued.

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