The wind of corruption currently blowing across Nigeria has caught up
with the Security and Exchange Commission (SEC) and, consequently,
its director-general, Ms. Arunma Oteh, has been directed to proceed on
compulsory leave to allow investigation.
it was that gathered that the level of financial mismanagement
that was discovered by the Udo Udoma-led board of SEC were
mind boggling.
The crux of the matter was how funds in the Commision's Project 50 was
allegedly looted by the leadership. The Project 50 is a programme to
mark 50 years of SEC in Nigeria.
Oteh was also found guilty of overstaying at the Transcorp Hilton hotel
for up to eight months against the commission’s policy. As a result of
the troubling findings, the SEC board ordered Oteh to immediately hand
over to the most senior executive commissioner, Daisy Ekineh.
The finances of SEC will be subjected to a forensic audit to determine
the how bad the situation is as well as the next action to be taken
against Oteh and anyone founding wanting.
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