Security & Exchange: Oteh resumes duty as Bello retires

Posted by admin Headlines Tuesday, July 24th, 2012

July 24, 2012 by Udeme Ekwere and Ifeanyi Onuba

The Director-General of the Securities and Exchange Commission, Ms Arunma Oteh, on Monday resumed duty.

This, however, came without any protest from workers who last week threatened to resist her return after the Federal Government had announced her recall.

Following the resumption of Oteh, the Acting DG, Mr. Ibrahim Bello, has retired from the organisation.

The Acting Head Media, SEC, Mr. Yakubu Olaleye, confirmed to our correspondent, in a telephone conversation on Monday, that Bello did not resign as was being rumoured in some quarters.

“The rumour that he resigned is false, he was supposed to be part of the members of the SEC Board who retired in June, however, he was told to stay back and act when Oteh went on compulsory leave. Now that she has resumed, he has retired accordingly,” he stated.

Our correspondent who visited the commission’s headquarters in Abuja discovered that the armed security officials that were posted to the place last Wednesday during the protest had been withdrawn.

They were said to have been withdrawn following assurances given to the SEC workers’ union by the management that their grievances were being looked into.

Unlike on Wednesday when the workers paralysed activities, visitors to the commission who had genuine businesses to transact were allowed in.

Oteh had been under fire for the past two months over allegations of mismanagement of the Project 50 fund.

via Punchwp_posts