Senate demands dismissal of Arunma Oteh as SEC’s boss

Senate, yesterday, urged President Goodluck Jonathan to sack Ms. Aruma Oteh, Director-General, Security and Exchange Commission, SEC, saying it would not have anything to do with the commission if she remained the head. It also threatened not to screen members of the commission’s board.

Ms Oteh during the probe

According to a statement by the Chairman, Senate Committee on Capital Market, Senator Ayoade Adeseun, ACN, Oyo Central, the move became imperative because of her reinstatement by the Presidency in flagrant disregard of resolution of the House of Representatives, which asked the President to sack her.

He  recalled that the House of Representatives which earlier investigated the near collapse of the capital market passed a resolution based on the report of the committee that the president should sack Ms Oteh.

Ms Arunma Oteh, DG, SEC

Senator Adeseun said further that, since Ms Oteh resumed duty; there have been series of protests against her manner of managing the agency.

He noted that, staff of the commission have again accused her of highhandedness, sole administration, intimidation and a headlong drive for vengeance.

Consequently he stated that the Senate Committee on Capital Market at its meeting on the 26th of September 2012 considered these issues which he claimed could negatively affect the capital market, and therefore resolved to support the position of the House of Representatives that the Ms Otteh be removed forthwith.

Well lets see if he President will adhere to the resolution of the Senate on SEC's boss.