Capital Market probe: Oteh says Okereke-Onyiuke lied on oath

Arunma Oteh Director General (DG) of Security and Exchange Commission
The Security and Exchange Commission (SEC) on Tuesday denied allegations made by former Director-General of the Nigerian Stock Exchange, Ndi Okereke-Onyiuke while making her presentation before the House of Representatives Committee probing the near collapse of the capital market.




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It is not abnormal to charge 0.3% admin fee for every share traded on the floor of the stock market. -
SEC DG, Arunma Oteh

Arunma Oteh apologises for her absence on Tuesday

Arunma Oteh said there was no donation from anybody towards SEC's Project 50 event; said SEC got sponsorship from partners for the event

Are we not even tired of probes in this country?

She is too arrogant. Looks like her executive team is not in support of her.

Mr. Herman Hembe
tightest probe name ever

plz lets jst stop hoping that Nigeria will get better....
what have we again in all this probe.....

should we
in all my xx years of living in this country, i hv learnt far more about how this country runs from these probe shrines than from any other source. pls let them be.

Nigeria is simply one huge joke where politicians clown with public trust and the people are left applauding their own coveted destruction. In fact, it is simply mind boggling how crazily conspicuous our legislators showcase their bias and hatred for Mrs Otteh the DG of SEC.
Whilst I’m not holding brief for Mrs Otteh; is it not disturbing that our hard working, internationally recognised bureaucrats are ridiculed publicly under the guise of probity by accusers who are themselves known felons?
We all know that over valuation of shares was responsible for the near collapse of the capital market in 2009, and the main culprits are our banks. The question is, could SEC have saved the Capital Market if the Apex Bank and NDIC the regulator and monitor of bank’s solvency failed to carry out their functions?
The speed at which the Chairman of the committee called for Mrs Otteh’s head for her non appearance yesterday says it all. Why have they not issued a warrant of arrest for the CBN governor who failed to honour their invitation but sent a deputy governor to the hearing when the Apex Bank was in fact the main actor in the systemic theft of our investments?
To add salt to our injury, that obese kleptomaniac who claims to be a teacher at Harvard, the woman that stripped us of our National Assets in collaboration with OBJ when she was the DG of NSE, was now given a field day to gloat over our heads with impudence. A woman who sold off The Nicon Nuga Hilton to herself and OBJ under Transcorp, was elevated to the status of national lecturer to further debase our collective intelligence under the theatrical satire they call Capital Market Probe.
As if this was not dehumanising enough, she was even encouraged to offer the nation palliatives for saving the Capital Market. I found myself laughing in Chinese at this institutionalised Nollywood actress. It was not surprising that she was quick to mention privatisation as one of her palliatives.
Do these people really ever steal enough
If that is what she teaches at Harvard, then our children and grand children are doomed.

^^^
my guy take am easy make dem finish d probe nah.

beaf roast: ^^^
my guy take am easy make dem finish d probe nah.

dounleedee: Nigeria is simply one huge joke where politicians clown with public trust and the people are left applauding their own coveted destruction. In fact, it is simply mind boggling how crazily conspicuous our legislators showcase their bias and hatred for Mrs Otteh the DG of SEC.
Whilst I’m not holding brief for Mrs Otteh; is it not disturbing that our hard working, internationally recognised bureaucrats are ridiculed publicly under the guise of probity by accusers who are themselves known felons?
We all know that over valuation of shares was responsible for the near collapse of the capital market in 2009, and the main culprits are our banks. The question is, could SEC have saved the Capital Market if the Apex Bank and NDIC the regulator and monitor of bank’s solvency failed to carry out their functions?
The speed at which the Chairman of the committee called for Mrs Otteh’s head for her non appearance yesterday says it all. Why have they not issued a warrant of arrest for the CBN governor who failed to honour their invitation but sent a deputy governor to the hearing when the Apex Bank was in fact the main actor in the systemic theft of our investments?
To add salt to our injury, that obese kleptomaniac who claims to be a teacher at Harvard, the woman that stripped us of our National Assets in collaboration with OBJ when she was the DG of NSE, was now given a field day to gloat over our heads with impudence. A woman who sold off The Nicon Nuga Hilton to herself and OBJ under Transcorp, was elevated to the status of national lecturer to further debase our collective intelligence under the theatrical satire they call Capital Market Probe.
As if this was not dehumanising enough, she was even encouraged to offer the nation palliatives for saving the Capital Market. I found myself laughing in Chinese at this institutionalised Nollywood actress. It was not surprising that she was quick to mention privatisation as one of her palliatives.
Do these people really ever steal enough
If that is what she teaches at Harvard, then our children and grand children are doomed.

My conclusion is that Oteh is not straight forward. Her executives are not happy with her and she did not follow civil service rules in some of her dealings. She did some illegal things and she is now exposed. Motive or no motive if you have done nothing wrong then you need not fear. I was sympathetic with her during the first probe but now I truely believe is "corrupt" intentionally or unintentionally.

dounleedee: Nigeria is simply one huge joke where politicians clown with public trust and the people are left applauding their own coveted destruction. In fact, it is simply mind boggling how crazily conspicuous our legislators showcase their bias and hatred for Mrs Otteh the DG of SEC.
Whilst I’m not holding brief for Mrs Otteh; is it not disturbing that our hard working, internationally recognised bureaucrats are ridiculed publicly under the guise of probity by accusers who are themselves known felons?
We all know that over valuation of shares was responsible for the near collapse of the capital market in 2009, and the main culprits are our banks. The question is, could SEC have saved the Capital Market if the Apex Bank and NDIC the regulator and monitor of bank’s solvency failed to carry out their functions?
The speed at which the Chairman of the committee called for Mrs Otteh’s head for her non appearance yesterday says it all. Why have they not issued a warrant of arrest for the CBN governor who failed to honour their invitation but sent a deputy governor to the hearing when the Apex Bank was in fact the main actor in the systemic theft of our investments?
To add salt to our injury, that obese kleptomaniac who claims to be a teacher at Harvard, the woman that stripped us of our National Assets in collaboration with OBJ when she was the DG of NSE, was now given a field day to gloat over our heads with impudence. A woman who sold off The Nicon Nuga Hilton to herself and OBJ under Transcorp, was elevated to the status of national lecturer to further debase our collective intelligence under the theatrical satire they call Capital Market Probe.
As if this was not dehumanising enough, she was even encouraged to offer the nation palliatives for saving the Capital Market. I found myself laughing in Chinese at this institutionalised Nollywood actress. It was not surprising that she was quick to mention privatisation as one of her palliatives.
Do these people really ever steal enough
If that is what she teaches at Harvard, then our children and grand children are doomed.

Look at this man. E be like say you no know say dem dey fear Sanusi.

I was sympathetic with her during the first probe but now I truely belive is "corrupt" intentionally or unintentionally.[img]http://www.keyforex.info/cpu.gif[/img]

i agree with the last contributor that this nation is an unserious country where anything goes. If not 'Prof' Ndi Okereke-Oyiuke should be in jail for reaping off this nation on false claims of a non existent Phd and fake story of teaching at Harvard. It beats my imagination that she still repeats obvious falsehood in public. All the so called schools sh said she went to abroad came out with affidavits disowing her. Her claim of working in the New York Stock Exchange have been proved to be a hefty lie. If she did, it would be in her imagination. Its a shame that people who ought to have called her to order rather give her the platform to insult the rest of us. The only teaching she has done was a two year stint at the University of Lagos where she was taught part time for two years with a fake doctorate which the university did not verify. i found it rather amazing that she said she ought to have been paid N500 Million for her one decade stay at the Stock Exchange. What kind of pension is that. She also insults the university system in NIgeria when she claims that she was awarded a full professorship and in that way she compares herself with people like Professor Pat Utomi. The award of a professorship by the UNiversity of NIgeria is the first of its kind in the world, a scandalous abberation to say the least. She never taught anybody there so the basis for the award can only be understood by the university. I am saddened each time she opens her mouth to speak of service-what service and at what cost. Her denial of raising funds for Obama makes me wonder what she thinks the rest of us are. She should give some of us credit, we are not the fools she takes us to be and we are not suffering from collective amnesia as she she imagines. Enough of this nonsense. I think the Panel is a waste of everybody's time and should wind up as its fast turning into the theatre of the absurd.

And she just confirmed my point. They do not work together as a team.

chardino: plz lets jst stop hoping that Nigeria will get better....
what have we again in all this probe.....

U can't take away hpe from a man.What nigerians shd face is d bitter truth dat d country is doomed 4eva,but let dem kp on hoping,dats what kps one going till death comes.

[size=16pt]GOVERNANCE WITHIN SEC SEEMS VERY POOR!!![/size]

Obvious that she has not been carrying her Executives along.
Heard she spent about 6hrs begging them sometime ago after the hullabaloo of the first probe - importantly for discrediting them.
Her days may be numbered; but maybe not as in 9ja.
May God help us to help ourselves and our society to be a better place, amin.

When I hear these Commissioners speak I laugh. Typical Civil Servants! Otteh has probably blocked some of their chop I chop routes hence their dissatisfaction with her.

The sitting has been adjourned till next week Teusday. The chairman said she has been discharged but not aquitted

dustydee: And she just confirmed my point. They do not work together as a team.

A lot can be achieved with meetings (must not be many though) in a work place!
It is evident, Madam DG is not on top of the politics in her work place.

She may not be corrupt but I am not impressed by the negative comments and suggestions of her subordinates.

ballabriggs: When I hear these Commissioners speak I laugh. Typical Civil Servants! Otteh has probably blocked some of their chop I chop routes hence their dissatisfaction with her.

You may be right though! But all the same, she is not on top of the politics in her workplace.

ballabriggs: When I hear these Commissioners speak I laugh. Typical Civil Servants! Otteh has probably blocked some of their chop I chop routes hence their dissatisfaction with her.

Chop-I-chop didn't force her to take some of the actions she took. Lot of those commissioners like the legal and the other woman know what they are doing.Oteh sounds arrogant and you can't be arrogant to your colleagues-not in the civil service. They will mess you up.

bayooooooo:

You may be right though! But all the same, she is not on top of the politics in her workplace.

Look Brother I am right. I did my NYSC in a Government Department. The new DG brought came with the intent to change the place. For where? Petition upon petition, back biting, gossip and if possible voodoo sef. It is a jungle in my honest opinion. There is no discipline. Any Oga that does not let them chop is always a bad Oga. Otteh may not be clean but the Commissioner sounds like there is something personal.

ballabriggs:

Look Brother I am right. I did my NYSC in a Government Department. The new DG brought came with the intent to change the place. For where? Petition upon petition, back biting, gossip and if possible voodoo sef. It is a jungle in my honest opinion. There is no discipline. Any Oga that does not let them chop is always a bad Oga. Otteh may not be clean but the Commissioner sounds like there is something personal.

everyone knows there is something personal. The lawyer mentioned it. When they make suggestions or make an argument against a position, it is met with anger and fury. That is not the way to work. If you have a boss that shoves things down your throat without letting you voice your opinion what do you do? She seems to have a temper and believes she is better than the others-which is not true.

dustydee:
everyone knows there is something personal. The lawyer mentioned it. When they make suggestions or make an argument against a position, it is met with anger and fury. That is not the way to work. If you have a boss that shoves things down your throat without letting you voice your opinion what do you do? She seems to have a temper and believes she is better than the others-which is not true.

When you people talk of carry people along, I laugh. Which Civil Servants? The ones that come to work at 12 noon and close at 3 pm? Abeg forget all these show of innocence on national TV. E be like say una so sabi these people o. They are so lazy and corrupt. I've worked in the UK civil service in one of Her Majesty's department and I can tell the difference. Some of these guys you people see no sabi use computer yet they want to be there. Oya allow young man whose got the 21st century skills to do the work. For where, dem go gree. Abeg Otteh may not be clean but these guys wey una dey see most of them are very corrupt and lazy. They can do anything to maintain the status quo.

women sha, they always never agree. women always hate themselves.

We are in for a long haul as far as the future of this country is concerned. All we do is sit back and watch as the future of our children born and yet unborn is mortgaged on a platter by our corrupt leaders.

I am also amazed at the kind of sentimental analysis provided herein by some people. I am not an overtly religious person but only God can save us.

Please tell me this how is Otteh corrupt when she was brought in 2010 after the market had already collapsed? Of course a lot of people working under her don't like her because she is trying to bring sanity to the capital market.

I have worked in the Nigerian capital market and I can tell you that madam Ndi took the whole of Nigeria for a ride and still has people within SEC loyal to her because as one poster has posited her era was that of 'chop I chop' where a few people in her caucus fleeced innocent Nigerians of their
hard earned cash by manipulating share prices and floating bogus coys on the NSE.
Please for those asking for Otteh's head which coy has she approved to be floated on the NSE since she become DG? Also, her efforts to bring sanity to the market is truncated daily as she is constantly bombarded with one list or the other by our NASS members seeking to place their croonies in SEC without taking cognizance of their competencies. This is the same thing that has happened to our police force where cadets are recruited not based on competence but rather through political connection and at the end of the day we are saddled with a moribound police force comprising of people not fit for the responsibility bestowed on them. Of course Otteh will have perceived enemies amongst her subordinates as she trying to bring change.

A friend that was also recruited from abroad to work with SEC resigned in annoyance and returned to the USA when her colleagues went diabolical and even to the extent of tying a padlock on a live tortoise and placing in her office!

May God open our eyes of understanding!

Nigeria- a melo drama

Blah blah blah blah... Probes evryday witout result.

@deenee

We are in for a long haul as far as the future of this country is concerned. All we do is sit back and watch as the future of our children born and yet unborn is mortgaged on a platter by our corrupt leaders.

I am also amazed at the kind of sentimental analysis provided herein by some people. I am not an overtly religious person but only God can save us.

Please tell me this how is Otteh corrupt when she was brought in 2010 after the market has already collapsed? Of course a lot of people working under her don't like her because she is trying to bring sanity to the capital market.

I have worked in the Nigerian capital market and I can tell you that madam Ndi took the whole of Nigeria for a ride and still has people within SEC loyal to her because as one poster has posited her era was that of 'chop I chop' where a few people in her caucus fleeced innocent Nigerians of their
hard earned cash by manipulating share prices and floating bogus coys on the NSE.
Please for those asking for Otteh's head which coy has she approved to be floated on the NSE since she become DG? Also, her efforts to bring sanity to the market is truncated daily as she is constantly bombarded with one list or the other by our NASS members seeking to place their croonies in SEC without taking cognizance of their competencies. This is the same thing that has happened to our police force where cadets are recruited not based on competence but rather through political connection and at the end of the day we are saddled with a moribound police force comprising of people not fit for the responsibility bestowed on them. Of course Otteh will have perceived enemies amongst her subordinates as she trying to bring change.

A friend that was also recruited from abroad to work with SEC resigned in annoyance and returned to the USA when her colleagues went diabolical and even to the extent of tying a padlock on a live tortoise and placing in her office!

May God open our eyes of understanding!

Your analysis is knowledge based and the best among the nonsense spewed by most posters. I have to agree with you 100%. How could Otteh’s crooked minded executives support her? Nobody who wants to fight corruption in Nigeria ever finds it easy. If you’re in doubt, ask Buhari. Imagine the extremely fraudulent National Assembly questioning someone on fraud!!!!!! Nothing wey I no go hear. Without a doubt, the hopeless national assembly probing committee have been induced by Onyiuke and she won’t be summoned to that house for a second time as Otteh.