Oteh resumes at SEC today

23/07/2012 00:26:00 // News

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By Emma Ujah
ABUJA— Barring last minute changes, the Director-General of the Securities and Exchange Commission, SEC, Ms. Arunma Oteh will resume today.

She was, last week, recalled from an indefinite suspension slammed on her following allegations of financial recklessness. A firm of external auditors was subsequently engaged to examine the commission’s books.

The auditors, however, were said to have found nothing against her which prompted the federal government to recall her last week.

But this did not go down well with some members of staff as they staged a protest against her recall.

That protest was said to have been master-minded by certain interests that were bent on frustrating her return to SEC.

Oteh had to fight many interests both within the commission and at the Nigerian Stock Exchange.

Meanwhile, the Minister of Finance and Co-ordinating Minister for the economy, Dr Ngozi Okonjo-Iweala was said to have met with the commission’s staff last Friday where she told them to sheathe their swords as Oteh has been found to be innocent of allegations against her. It was also gathered that Dr Okonjo-Iweala told the protesting staff that it was illegal for them to form unions at the commission.

The SEC boss, a former top official of the African Development Bank was seen as an outsider by some interests who also were not comfortable with her hard decisions in the efforts to restore sanity and investor’s confidence in the nation’s battered capital market.

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