Arunma Oteh is officially back

by Isi Esene

It is confirmed that Arunma Oteh has been recalled to resume her position as the director-general of the Securities Exchange Commission (SEC) through a directive from the Federal Government.

According to the Vanguard Newspapers, the re-instatement was communicated to her through a circular, SGF.2/S.9/C.13/454 dated 17/ July, 2012, signed by the secretary to the Government of the Federation, Sen. Anyim Pius Anyim.

From the released statement, Oteh’s recall was necessitated by the report of investigation into the accusation of alleged fraud and criminal breaches by PriceWaterCoopers (PwC).

The circular reads:

“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 PriceWaterCoopers 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.”

Recall that the staff of the the Security and Exchange Commission (SEC) staged a protest yesterday against Oteh’s return to office.

This is intriguing. Let’s see how it all plays out.

Comments (3)

  1. Am not surprise @ this breakin news over ( The return of the SEC titan, madam Oteh ) since madam Patricia Eteh has been decorated wit national honour by Mr.Fresh air after demonstratin her good talent of legislative representative. My bros what else do we expect from the leadin team of the fastest move train without railway? eehm!

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