Oteh Remains SEC DG – FG 4 years ago 0

The Federal Government has insisted that it will not rescind its decision on the recall of the Director-General of the Securities and Exchange Commission, Ms Arunma Oteh.










The Minister of Finance, Dr. Ngozi Okonjo-Iweala, it was learnt, gave the government’s position during a meeting with the workers’ union of the commission on Friday.

During the meeting, the workers were told by the minister that Oteh’s recall followed due process.

The minister, it was learnt, pointed out that the government’s decision was based on the findings and recommendations of independent auditors.

Okonjo-Iweala, who is the supervising minister in charge of the commission, however, appealed to the workers to reconsider their position and accept Oteh back.

The Secretary General of the SEC workers union, operating under the umbrella body of the Amalgamated Union of Public Corporation, Civil Service and Recreation Employees, Mr. John Briggs, confirmed the meeting in an interview with our correspondent on Sunday.

He said that the minister insisted that the Federal Government would not change its position on Oteh, and urged the workers to accept her.

It was learnt that after much plea, the union listed some conditions that would make the members accept the embattled DG.

One of the conditions, it was learnt, was that no member of staff that participated in the protest would be victimised by Oteh.

Oteh, who was sent on a compulsory leave by the SEC board last month for allegedly mismanaging the commission’s Project 50 Fund, was recalled by the Federal Government last Wednesday.

Her recall had sparked outrage from members of staff of the commission, thus leading to a halt in business activities at the commission.

The SEC workers had, during the protest, vowed to resist any attempt by the government to impose Oteh on them.

They argued that it was wrong for the government to have asked the DG to return to work, since issues raised by the report had not been addressed.

Oteh’s woes were compounded on Thursday when the House of Representatives asked the FG to remove her from office.

The lawmakers, in their adoption of the report of the House Ad hoc committee that probed the near-collapse of the capital market, also faulted Oteh’s appointment as DG on grounds of qualification. Home Page

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