January 22, 2018 / 6:28 PM / a year ago

Nigeria's Oando says it is working to resolve disputes

ABUJA, Jan 22 (Reuters) - The Nigerian Securities and Exchange Commission (SEC) has not said whether it is calling off a forensic audit of Oando after the oil company settled a dispute with key shareholder Dahiru Mangal, a company spokesperson told Reuters.

Oando said it has been providing information to the regulator since last year and was working on getting all issues resolved this year including lifting a suspension imposed on its share price.

The spokesperson said Mangal’s petition to the SEC had to do with understanding the company’s liabilities and that Oando has paid down over half of its debt since its bought ConocoPhillips’ Nigerian assets in 2014 to 209 billion naira as of the third quarter last year.

Oando said a second petition was still with the regulator. (Reporting by Chijioke Ohuocha; Editing by Adrian Croft)

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