Arunma Oteh Sent On Compulsory Leave

In the wake of the corruption crisis that has bemoaned the Securities and Exchange Commission (SEC) for the past years, Ms. Arunma oteh Director General of the Nigeria Securities and Exchange Commission (SEC), has been ordered to proceed on a compulsory leave. This decision was presumed, in order to pave way for an investigation into her tenure as the head of the commission. Ms. Daisy Ekineh, Executive Commissioner, Operations, as been summoned to act in the absence of Ms Oteh. 

The decision was reached by the Board of the Securities and Exchange Commission after a decisive meeting that lasted till the late hours of Monday.  Ms. Oteh took over as Director-General of the Commission in 2010 after her predecessor, Musa Al-Faki resigned on the heels of another financial scandal involving the commission in the sale of AP stock in May 2009. Ms. Ekineh again acted as DG in the interim until oteh was  appointed by the late president Umaru Musa Yar-adua in January 2010.

Following her public display of:  strident lack of people acumen and blatant emotional 'unintelligence' at the capital markets probe led by Hon. Herman Hembe, one cannot help but show preposterous curiosity on how an Arunma Oteh earned an executive position as a 'Director General' of an important sector of the economy -"Now that's my own 'EPIC FAIL'". After watching feeds from the Capital Market probe led by members of the House of Representatives, i will ever stay true to my belief that Harvard degrees are overrated in Nigeria. Arunma Oteh's arrogance and volatility at the Hon. Herman Hembe led capital market probe epitomises the traits of an ineffective Director-general.

The reasons given by the Board of the Securities and Exchange Commission for oteh's suspension was arrived at after due consideration of the report of its Audit and Finance Committee which had been directed to investigate the sources and uses of funds for the Project 50 event. How can we not agree to the claims by the Board of the Directors that Oteh takes decision unilaterally. Brokers nationwide have welcomed the suspension of Ms. Arunma Oteh, most nods are backed with the cliam that Ms. Oteh never enacted a policy that positively affected the market.