Senate backs House on Oteh’s removal

October 19, 2012 by John Alechenu, Abuja  

 

The Senate Committee on Capital Market on Thursday said it was supporting the House of Representatives resolution demanding the removal of the Director-General of the Securities and Exchange Commission Ms. Aruma Oteh.
The committee’s decision was contained in a statement made available to journalists in Abuja.
The  committee in the statement by its Chairman, Senator Ayoade Adeseun, said having looked at current issues and happenings in SEC, it had resolved to back its colleagues in the House.
He said, “The committee therefore resolved to support the position of the House of Representatives that the DG (SEC) be removed forthwith.
“The committee also resolved to have nothing to do with Ms. Oteh for as long as she remains at the helm of affairs at the SEC.”
It added, “You are also aware that instead of complying with the resolution of the House, the DG (SEC) was reinstated in a flagrant disregard of the resolution.
“Again, on resumption from recess in September 2012, 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 ignored.
“Furthermore, since Ms. Oteh’s resumption of duty, there have been a series of protests against her manner of managing the commission.
“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.”

SOURCE: The Punch - Nigeria's Most Widely Read Newspaper19 October 2012.