Sack DG SEC Aruma Oteh now –Reps tell Jonathan

Posted by admin House, Legislature Saturday, July 21st, 2012

The last may not have been heard about the recall of
the embattled Director-General of the Security and
Exchange Commission (SEC), Ms Arunma Oteh as
House Representatives recommended her for sack
and prosecution.

Adopting the report of Rep. Ibrahim El-Sudi-led led Ad-
hoc committee on capital market, the lawmakers
urged the president to fire her because she was not
qualified to hold such position.

The report said her appointment contravenes section
3(2)a and Section 38(1)(b) 2 and 3 and Section 315
of the Investment and Security act, 2007 because she
does not have 15 years experience in the Nigerian
Capital Market as required.

She was also indicted in many administrative failures
even as some members faulted the president’s
decision to recall the embattled DG, knowing well that
she is still under house investigation.

Recall that staffs of the Security and Exchange
Commission (SEC) on Tuesday staged a protest
against the resumption of Ms Oteh. The staffs’ grouse
was that her re-instatement did not follow due process.
The report was thus overwhelmingly adopted by the
lower house,
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