Breaking News: SEC Board Sends Arunma Oteh On Compulsory Leave
Tuesday, June 12, 2012Omoba |
| SEC Director General, Ms. Arunma Oteh |
The
board of the Securities and Exchange Commission (SEC) has sent its Director
General, Ms. Arunma Oteh, on compulsory leave, pending the investigation of
allegations into her stewardship, THISDAY has learnt.
Ms.
Daisy Ekineh, Executive Commissioner, Operations, will act in her absence. The
board is expected to make the announcement of Oteh's leave Tuesday. Confirming
the decision to send her on leave Monday night, a source in the presidency said
it was taken by the board in order to carry out its investigation into some of
the initiatives under Oteh's stewardship such as Project 50, which is a
programme packaged by the DG to celebrate 50 years of capital market regulation
in Nigeria.
The
source added that the SEC board might have also been influenced by a lot of the
revelations that emerged during the capital market probe by the House of
Representatives in March and later in April to May this year.
The
board was said to have been dismayed by the level of disharmony within the
organisation that was displayed by Oteh and her executive commissioners and the
toll and loss of confidence her administrative style had taken on SEC.
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