7 December 2012

Nigeria: Reps Won't Deal With SEC Under Oteh - Spokesman

The House of Representatives yesterday declared that it will have no dealings with the Security and Exchange Commission (SEC) under its incumbent Director-General, Arunma Oteh.

Fielding questions from newsmen on the state of affairs of the, House vis-a-vis the 2013 budget defence by government Ministries Department and Agencies, its Deputy spokesman, Victor Ogene said the House remained resolute in its stance that Oteh be sacked for not meeting the 15-year cognate as provided for in the SEC Act, hence a no show for the Commission in 2013.

It would be recalled that a report of a House probe into the near collapse of the Capital Market indicted Oteh, particularly on inexperience to head SEC and subsequently recommended her sack, a resolution the Goodluck Jonathan administration is yet to comply with.

Ogene said, "We made our findings and nobody has faulted those findings because they are based on law that says you must have certain (15 cognate) years of experience in the Capital Market for you to head the Securities and Exchange Commission (SEC) and nobody has faulted that.

"We remain resolute that the House of Representatives will have no dealings with the Securities and Exchange Commission under Arunma Oteh as Director-General.

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