SEC DG Arunma Oteh Sent On Compulsory Leave

The Director-General of the Securities and Exchange Commission (SEC), Ms. Arunma Oteh, has been sent on compulsory leave.

Though details of Oteh's suspension were sketchy at press time, LEADERSHIP gathered that, the DG'S suspension was based on her alleged financial mismanagement of the Commission's funds.

LEADERSHIP gathered that, the decision to suspend Oteh, was taken by the Udo Udoma-led board of SEC after a long meeting that ended at about 9pm.

The board found the DG SEC guilty of gross mismanagement of funds in the Project 50 of the commission. The Project 50 is a programme to mark 50 years of SEC in Nigeria.

Oteh was also found guilty of overstaying in one of the highbrow hotels in Abuja for up to eight months against the commission's policy.

The SEC board further asked Oteh to hand over to the most senior executive commissioner, Daisy Ekineh and directed that a forensic audit should be carried out on the commission's finances

The travails of Oteh began when Hon. Herman Hembe –led House of Representatives Committee on near collapse of Capital Market accused her of mismanaging the commission and embarking on limitless spending.

But Oteh fired back and accused Hembe of demanding bribe from her.

She further claimed that the lawmakers were furious at her because she turned down the request of Hembe for a N44million tip.

Oteh said the lawmaker first asked for N39 million to defray the cost of the ongoing public hearing, and when she denied, the chairman asked for N5million.

According to her the development was in addition to the commission sponsoring a foreign trip for members of the committee, and paying them estacodes.

She questioned the credibility of the Chairman of the committee in conducting the probe, considering her allegations.

She also described the probe as a 'Kangaroo court', and likened the probe to an era of former Uganda leader, Idi Amin, saying "not even during the Idi Amin regime, did we have this kind of session."

In his response, Hembe noted all the allegations listed by the SEC and subjected himself and the committee to another probe which he ordered the Economic and Financial Crimes Commission (EFCC) to take up.

Posted: at 12-06-2012 02:44 PM (12 years ago) | Upcoming

Mr painter kelly hansome don turn to PAINTER 4 Owerri IMO state .Kelechukwu clap 4 ur self I SAY NO BE UNA FAULF YOU ARE JUST jobless,... nonsense But do you yeah,and keep missing YAKUBU.......walk down the road and go hug TRANSFORMER...go boil stone..... ,its'll cure your sickness ....., MAKE UNA COME HELP ME SEE WHICH KIND STRONG HEAD PIKIN UNA BE HIA KPOMO UNA NO CHOP....,FISH UNA NO CHOP.....,...GOAT UNA CHOP UNA SAY UNA WAN BEEF..........una too much!!! coffee wey I dey drink for hia comot for my nose as I read all una comment.    JOBLESS PEOPLE

Posted: at 12-06-2012 06:49 PM (12 years ago) | Gistmaniac

yawns

Posted: at 12-06-2012 07:21 PM (12 years ago) | Gistmaniac

thief thief govment

Posted: at 12-06-2012 09:31 PM (12 years ago) | Addicted Hero

 

Posted: at 12-06-2012 10:14 PM (12 years ago) | Upcoming

FOR NIGER, MAN BE THIEF WOMAN BE THIEF, GOD WETIN WE GO DO AGAIN!!!!!!!!!!!!!!!OHHHHHHHHHHH, I TIRE FOR THIS COUNTRY PAAAAAAAAAAAAAAAA

Posted: at 12-06-2012 10:53 PM (12 years ago) | Upcoming

STUPID COUNTRY  INSTEAD OF SENDING DAT GREEDY BASTARD TO PRISON DE SENDING HER ON LEAVE AT OUR EXPENSES. IDIOTIC NATION  

Posted: at 13-06-2012 01:59 AM (12 years ago) | Upcoming

She will be back before you know it, All she needs is find the right person and the right amount of money.

Posted: at 13-06-2012 02:49 AM (12 years ago) | Gistmaniac

Ms. Arunma Oteh is a Criminal, Dem don chop NIGERIA MONEY FINISH.. THIEF

Posted: at 13-06-2012 07:08 AM (12 years ago) | Gistmaniac

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Posted: at 13-06-2012 07:55 AM (12 years ago) | Addicted Hero