ABUJA – Senate, yesterday, urged President Goodluck Jonathan to sack Ms.
Aruma Oteh, Director-General, Security and Exchange Commission, SEC,
saying it would not have anything to do with the commission if she
remained the head.
It also threatened not to screen members of the commission’s board.
According to a statement by the Chairman, Senate Committee on Capital
Market, Senator Ayoade Adeseun, ACN, Oyo Central, the move became
imperative because of her reinstatement by the Presidency in flagrant
disregard of resolution of the House of Representatives, which asked the
President to sack her.
Supporting the position of the House of Representatives, the Senate
Committee said: “You will recall that the House of Representatives, few
months ago, set up an ad-hoc committee, which investigated the near
collapse of the Nigerian Capital Market.
“Consequently, the House passed a resolution based on the report of that
Committee that the President should sack the Director-General, SEC, Ms.
“The House further resolved that should the President fail to comply
with its resolution, the House would cease to accord any recognition to
the Ms. Oteh.
“You are also aware that instead of complying with the resolution of the
House, the DG was reinstated in flagrant disregard of the resolution.
“Again, on resumption from recess in September, the House re-affirmed
its earlier resolution and gave a 14-day ultimatum for compliance by the
executive arm of government. Till date, that ultimatum has been
Her ‘crimes’ “Furthermore, since Ms. Oteh’s resumption of duty, there have been series of protests against her manner of managing the agency.
“Rather than seek amity with the workforce, she has continued with the
same style of administration for which even the Presidential Review
Committee indicted her.
“Specifically, the staff have again accused her of highhandedness, sole
administratorship, intimidation, insensitivity, malice and a headlong
drive for vengeance.
“Consequently, the Senate Committee on Capital Market, at its meeting of
September 26, considered these and other goings on at the commission,
all of which could negatively affect the Nigerian capital market and
came to the conclusion that if this trend is not arrested, the capital
market might be brought finally to its knees, with attendant deleterious
effect on the economy of the country.
“The committee, therefore, resolved to support the position of the House
of Representatives that the D.G, SEC, be removed forthwith. The
committee also resolved to have nothing to do with Ms. Arumah Oteh for
as long as she remains at the helm of affairs at the Security and