Ali M. Ali And Paul Ohia
21 August 2008
Abuja — The Director-General Nigeria Stock Exchange (NSE), Prof. Ndidi Okereke-Onyiuke, was yesterday quizzed and detained by operatives of the Economic and Financial Crime Commission (EFCC) over her role in the fundraising saga for the US Democratic Party's Presidential candidate Barrack Obama.
The amount realised is believed to have surpassed N99 million.
Details of her interrogation by the EFCC were sketchy last night but sources said owing to the extensive quizzing, she was going to spend the night at the anti-graft agency's headquarters in Abuja.
She had been invited by the commission following the international attention she had drawn with her controversial fundraiser.
But speaking to the British Broadcasting Corporation (BBC) yesterday, she said the money raised from the gala event, at which each table was charged N2 million, was never meant for his campaign.
She said: "This year, a newspaper put on a concert where tables cost N10 million and no-one blinked an eye then, why should they now?"
The Securities and Exchange Commission (SEC) had Monday fired her a query for her involvement in the entire affair of raising fund for a foreign national.
In a letter dated August 14, 2008 and signed by SEC Director-General, Musa Al-Faki, Okereke-Onyiuke was told that her involvement was capable of compromising the NSE professional standing and political neutrality in and outside the country.
Okereke-Onyiuke was therefore asked by the Commission to clarify her role in the "Africa for Obama" campaign.
Many analysts had pointed out to the group that it is unlawful in America for campaign groups outside the US to donate funds to the country's political parties.
The Obama campaign had earlier dissociated itself from the group, saying it would not accept its money.
Tickets to the lavish event in Lagos on August 11 cost more than N2 million for an eight-person table.
Okereke-Onyiuke insisted that there had been a misunderstanding in the press regarding the event.
"We never said we were going to donate money for the campaign," she said.
"We paid for the hall and the entertainers and the surplus we said would be spent on advertisements aimed at persuading Nigerians to tell their relatives in America to register to vote.
"There is not one Nigerian who doesn't have a relative or friend in America. Our aim was to encourage those people to tell their family who have the right to vote in America to vote for Obama," she told the BBC website yesterday.
Media reports put the amount raised at the event at more than N99 million, but Okereke-Onyiuke said the group's accountant had not finished counting the proceeds yet.
Full-page adverts in major newspapers publicising the event did not mention what the organisers were planning to do with the money.
Tickets to the gala dinner at the Muson Centre, usually used for conferences and trade shows, were split into two price ranges: "gold" and "platinum".
A line-up of Nigerian musicians and comedians were billed as the evening's entertainment.
Prominent figures such as a Peoples Democratic Party (PDP) chieftain, Chief Sonny Iroche, and human rights lawyer, Femi Falana, had warned the group to cancel the event and give back the money.
The Barack Obama campaign wrote to a Nigerian newspaper this week to confirm it would not be taking any money from the group.
"We want to make it clear that the event and this organisation are in no way associated with Obama for America of the Democratic National Committee should this organisation seek to place additional advertisement in your paper," the letter said.
Okereke-Onyiuke hit back at critics who have accused her of abusing her position as head of the NSE.
She said the press was trying to attack her because they were jealous of her success.
"I am a woman of the highest integrity," she said.
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EFCC has taken a right step in a right direction(as regards the Africa for Obama stuff,being spearheaded by the Madam of NSE). Frankly,her official status calls for an absolute poliatcal neutrality.Madam should particularise her attention on the continous dwindling of the NSE which she is heading.
THE RFCC SHOULD CONCERN ITSELF WITH THE NUMEROUS CASES OF CORRUPTION IN THE COUNTRY,AND NOT TO HARRASS ONYIAUKE IN WHAT APPEARS TO BE A POLITICA ROLE IN A MATTER THAT DOES NOT CONCERN OUR COUNTRY. IS IT ILLEGAL FOR ANYONE TO RAISE FUND FOR ANY PROJECT OF CHOICE? WHEN SEN BARACK OBANA DENOUNCED THE FUND RAISING FOR HIM,ONYIAUKE MADE A STATEMENT ON HER ROLE IN THE FUND RAISING WHY SHOULD THE EFCC GET INVOLVED IN THE MATTER.
The fundamental role of EFCC is prevention and bursting of economic crimes. I am yet to understand the crime Dr Akunyili has commited. Nothing has worked in Nigeria because most of our endeavours have been politically motivated instead of being in the national interest.EFCC is only playing to the gallery instead of focusing on their primary role. So many economic criminals who are politically well connected are walking our streets freely, blarring their siren, with first class protection by our state; While EFCC is busy harrasing role model like Dr Akunyili. How can one forget in a hurry the fantastic… [Read Full Text]
The EFCC has no business intruding in this matter which is entirely personal to the group that raised the fund which Obama has denounced.There is nothing illegal in raising fund for any political purpose by any group that is not a govt.setup.The EFCC should face their assighnment of sanitizing the corruption in Nigerian polity,and leave our belove Mrs Onyiuke alone.
I think it is high time Madam Onyiuki be releived of the position of head of our stock exchange. I see no connection with her role at the stock exchange and the Obama phenominum. Her un - Popular role with Transcorp is still fresh in our memories... Madam Ndidi I think your time is up.
Where purpose is not known,abuse is inevitable.Back in school I was made to know that power corrupts and absolute power corrupts absolutely.I strongly believe that EFCC will perhaps be going beyond the powers conferred on it or in other words abuse it use. Private individual can decide to come together to jointly contribute for a purpose provided their intention is not illegal or unlawful.Provided the Africans for Obama campaign group did not realise the fund raised at the dinnere thruogh fraud ,duress,and undue influence,I do not think it is the Business of the EFCC to probe the money.Moreover,it has… [Read Full Text]
This is another technical way of frauding nigerian with obama campaign.Nigerian should be proud of their own,not trying to show the aside world simpathy what we don,t have at home here.Let stop fooling our people rather educate them in the right manner.She should used the money to build a school for those poor who can,t effort going to school.