To those who know him, the ability of Jubril Adewale Tinubu, Group Chief Executive, Oando Group Plc, as a strategist and winner has never been in doubt.
His many stories of happy ending has confounded many, leaving even his worst critics to acknowledge the abundance of God’s grace and wisdom in him. His feats as a hugely successful player in the dangerous and turbulent oil and gas sector are acknowledged, while his audacity to face challenges where others have fallen by the way side has made him a role model for starters trying to climb the rope of success.
Call him a soldier and champion, and you wont be wrong. The soldier recently recorded another victory in the volatile business battlefield. Of course, it is no longer news that Tinubu and his company, Oando Plc, have been at logger heads with the Securities and Exchange Commission (SEC) for some years now.
Expectedly, Tinubu had sought justice in the court of law. justice was served and he came out victorious on all fronts, including when Justice Ayokunle Faji, of the Federal High Court sitting in Lagos, on Friday, 5 July 2019, granted leave to him and Oando Plc leave to file a motion for a judicial review of the decision of the SEC.
The victory on the day was a three-in-one, as the court also granted an order of certiorari for the quashing of SEC’s directive to Oando to convene an extra-ordinary general meeting on or before July 1 to appoint new directors and articulate remedial measures for alleged corporate governance lapses. The court further granted an order of certiorari for the quashing of a press release by SEC on June 1 appointing an interim management team to be headed by Mr Mutiu Sunmonu (the third respondent) to oversee Oando’s affairs.
Two years on, the matter has finally been resolved, with Tinubu, the business’ soldiers’ General hoisting his flag of victory once again. This again, is no surprise to many, it is just another record broken in as tounding manner the champion extraordinaire.
The deal by Oando Plc and the Securities and Exchange Commission (SEC) to end the legal battles was taken in the best interests of the company’s shareholders and the capital market.
The deal included payment of a sum of money and a commitment by the company to implement improvements in corporate governance.
This latest victory shouldn’t surprise anybody who know the Oando boss well enough. His audacity of hope and self assurance first manifested as a 27-year-old staff in his father’s law firm, when he quit to pursue his own pristine vision. You will recall that he took that audacious decision at a time when it was status symbol to work in your father’s firm.
The mustard seed that was deeped into the soil alongside his friends back then has germinated into an Iroko that not only gives shade to millions of people, but also feeds many millions spread across the world.
Aside his businesses, another aspect of his life that has probably been underreported is his philanthropy. In 2019, he, alongside some prominent Nigerians, visited the IDP camp in Maiduguri, Borno State to attend to the needs of some of the casualties of terrorism. Recently, he also donated books to 15 universities and two national libraries across Nigeria.
