N189 Billion Scandal: Resign Now, Stakeholders Tell Tinubu

Stakeholders and experts in Nigeria’s petroleum industry has called on Mr. Wale Tinubu, Oando Plc boss, to throw in the towel instead of boring his publics with tales of how the giant oil company posted a staggering loss of N189 billion right under his watch. The loss which was announced last week has raised speculations about Tinubu’s capacity to steer the ship of the oil corporation to prosperous heights especially in this period that oil prices are having a free fall. Since the disclosure of the monumental loss, rather than do the needful, Tinubu has appeared on national television trying to explain the reasons for the loss. But the subtle image laundering aimed at currying the favour of his company’s shareholders and other stakeholders has however, generated virulent criticisms across the nation’s oil and financial sectors. Pundits are of the opinion that the Oando boss should have simply towed the honourable path by tendering his resignation letter instead of coming on TV to offer frantic rationalisations of the company’s loss while seeking the public’s indulgence for his apparent incompetence at his job. “The fact that the bulk of the lost money was attributed to administrative expenses is a enough reason for him to go. It’s shameful and insensitive of the Oando boss to hold tenaciously to his position while junketing across the globe on private jet and as a member of President Muhammadu Buhari’s entourage while he bungles his brief as Oando boss,” one of the company’s shareholder who refused his name in print told Daily Independent. “Tinubu should just go in the spirit of change; he has ran the company aground.”

source: independent