Following the report of the ad-hoc committee on the collapse of the Capital Market, that did not find Mrs. Aruma Oteh wanting and her subsequent recall by the Federal government to continue as the Director General of the Securities and Exchange Commission, SEC, staff of the Commission yesterday embarked on a massive protest against the decision of the presidency, claiming that they were no longer comfortable with the one-man show of the embattled DG of SEC.
Dailypost had discovered that the House of Representative in its report had recommended for the sack of Oteh due
to her unprofessional way of running the Commission. It was also revealed that the House will resume deliberation on Ote’s matter today on whether it should stand with the action of Mr. President on her recall or not. Also to be discussed in the House is the pending issue of the non implementation of the 2012 budget.
The commission headquarters in Abuja was turned to a protest zone yesterday when staff embarked on an emergency protest against the decision of the presidency to recall Oteh back to office. Many staff of the Commission was seen grumbling even as most of them carried placards with different inscriptions in protest against the recall of the DG.
Oteh who was sent on compulsory leave by the board of the commission was on Tuesday recommended for formal dismissal from the commission by the report of the House ad-hoc committee on the collapse of the Capital Market.
The House reportedly said that Oteh did not meet the minimum 15 years experience required in the capital market operations , hence recommended for the dismissal of the SEC boss.
However, the presidency to a contrary action yesterday by recalling Oteh back to office, with the view that she was not found wanting by the external auditors.
In her recall circular, SGF.2/S.9/C.13/454 dated July 17, 2012, signed by the Secretary to the Government of the Federation, Sen. Anyim Pius Anyim Oteh was asked to return to office with immediate effect.
According to the letter, the outcome of the findings of the external auditors, Price Water HouseCoopers had warranted her recall. She was however warned to be more professional in terms of administrative dealings.
Oteh’s recall letter:
“Please refer to the decision of the Board of Securities and Exchange Commission (SEC) to send you on compulsory leave in order to enable SEC’s external auditors-the Price Water Coopers Limited (PWC), to examine the records of the commission’s transactions covering SEC project 50 which you supervised.
“I am to note that government has studied the report submitted by the external auditors and you are neither indicted for fraud nor criminal breach in any form. However, some administrative lapses were reported, particularly, in cases where administrative procedures were not thoroughly observed.
“The purpose of this letter is to recall you from your leave and to caution that you must henceforth endeavour to diligently observe all extant rules and administrative procedures in the conduct of all official transactions.”
Expressing his disappointment over the recall of Oteh, a senior official in the House told Daily post that
The action of the presidency clearly shows its inability to take issues seriously, and its weakness in terms of handling pressing and sensitive matters.
“You can now see that this administration does not take some matters seriously. People are not happy and we are going to consider the issue today,” He avowed.
Relatively, staff of the commission showed their determination to keep the SEC DG away from office even as heavily armed security agents were deployed to forestall breakdown of law and order, ahead of her resumption.
The staff embarked on a protest yesterday when information got to the them that Oteh was not found guilty by the external auditor and had been recalled by the presidency to continue from where he stopped before proceeding on suspension.
The placard bearing staff chanted anti-Oteh slogans with different inscriptions, and barricading the entrance into the SEC headquarters in Abuja while also warning the president against the consequence of his action.
The Staff had hinted that high headedness of Oteh and her one-man show as the DG was enough to send her packing.
As at the time this report was filed Oteh was yet to arrive at the SEC headquarters.
As at the time this report was filed Oteh was yet to arrive at the SEC headquarters.
Culled from Dialypost
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