The Nigerian Stock Exchange (NSE) said it paid N166 million out of N212 million contract money to Accenture consultancy firm.It said in a document that payment to the company was delayed because Accenture created payment difficulties by not following due process.

"On the outstanding bills due to Accenture, it should be stated that Accenture was foisted on the Exchange without subjecting themselves to due process or a competitive bidding process", the NSE said.

It said that no other consultancy firm was invited to submit a proposal to The Exchange for a project valued at N212 million.

Another document obtained by Daily Trust shows that the sacked Director-General of the NSE Professor Ndi Okereke-Onyiuke forwarded a letter of resignation to the Council of NSE on June 16. She was removed in early August.

The letter stated that her resignation becomes effective from December 15, 2010.

She was supposed to proceed on her terminal leave from September 1.