The Senate has called for the removal of the Director-General of the Securities and Exchange Commission (SEC), Arunmah Oteh.

The Chairman of the Senate Committee on Capital Market, Senator Ayoade Ademola Adeseun (ACN, Oyo), who made the call in a statement today, said the Senate backed the Lower Chamber in its resolution asking President Goodluck Jonathan to relieve Oteh of her job.

He said the committee was constrained to call for her removal to save the nation’s capital market from imminent collapse.

According to him, the committee noted that since Oteh's return, the commission has been plagued with series of protests that have pitted her against the staff.

"You will recall that the House of Representatives, few months ago, set up an Ad-hoc committee which investigated the "Near Collapse of the Nigerian Capital Market. Consequently, the House passed a resolution based on the report of that committee that the president should sack the Director General of the Securities and Exchange Commission (SEC), Ms. Arunmah Oteh.

"The House further resolved that should the president fail to comply with its resolution, the House would cease to accord any recognition to the SEC DG. You are also aware that instead of complying with that resolution of the House, the SEC DG was reinstated in a flagrant disregard of the resolution”, he said.

The lawmaker said its committee observed that the way the embattled DG was running the commission could further destroy the capital market and concluded that “if this trend is not arrested, the Nigerian capital market might be brought finally to its knees, with attendant deleterious effect on the economy of the country”.

"The committee, therefore, resolved to support the position of the House of Representatives that the SEC DG be removed forthwith. The committee also resolved to have nothing to do with Arunmah Oteh for as long as she remains at the helm of affairs at the SEC", he said.

http://www.dailytrust.com.ng/index.php/news/179168-senate-calls-for-otehs-sack

Oh well.
A political poohsie without a husband can go so far.
Ndidi should be smiling now.
The 'cross-eyed', strasbismus-ladened 'ABIA-wife of bath' is only getting a dose of her own 'mericine'!




http://the-aristocrat.com/index.php?option=com_content&view=article&id=68%3Aaruma-oteh-gets-her-comeuppanceand-why-shes-still-single&catid=41%3Abreaking-news&Itemid=1

[b]

[size=20pt]This among other things led to the whirlwind that swept away her former friend and NSE boss.[/size] Loyalists of Okereke-Onyiuke who were still in the NSE did not like her treatment of their former boss thus they remained loyal to the latter and worked to discredit Oteh. Their grouses against DG Oteh were indeed limitless.


Oteh’s stance was as a result of perceived high level of wastage in the system as well as the erosion of due diligence in the commission, two ills which the new director-general considered inimical to her mission at the commission. Her stance was believed to have drastically polarised her office with the commissioners in the commission.

[size=20pt]But he who laughs last laughs best: Okereke-Onyiuke must be reeling in fits of laughter by now now courtesy the messy embezzlement scandal, weighing around her former bosom friend’s neck like an albatross right now[/size]

By what criteria was she adjudged responsible enough to occupy such a position? Why is she still unmarried? Is it among other things, an outright indication of capriciousness, immaturity and irresponsibility (there usual shortcomings of emotionally and psychologically immature people)?
[/b]

Irony of life. . . .beware of 'friends'!
Why is she still single?
Could it by her 'eyes'?
I ain't sure which wan to look at. . .
God is surely efrywhia. . . .and SATAN too!

Is it the same capital market that has been recording gains in recent weeks?

lol........


Woman that has been keeping oga Jona warm while madam Patience dey Germany.....

You now want her sacked? waitin Oga go hang on to when first lady takes another trip abroad?

Senetor, Abeggiii... no go there o, if you don't want Jona to deal with u...

Mstcheeeeew for these legislooters, oteh shld continue her work bt just doesn't like her pomposity.

All these "honourable" this and that are grossly incompetent. If she has committed any crime, she deserves to be punished. Arrest and prosecute her. Passing meaningless and useless resolutions will not get the job done.

I think this personal have a hidden vendetta against this woman. What exactly is there grouse with her?

PROUD-IGBO:
Is it the same capital market that has been recording gains in recent weeks?

Our distinguished senators are not yet aware of this fact.

Lets wait n c if oteh is truly a cat wit 9 lives

obo_man: lol........


Woman that has been keeping oga Jona warm while madam Patience dey Germany.....

You now want her sacked? waitin Oga go hang on to when first lady takes another trip abroad?

Senetor, Abeggiii... no go there o, if you don't want Jona to deal with u...

I tot it was dezanni doing that job now, its oteh. Why can't you folks make up ya damned minds

obo_man: lol........


Woman that has been keeping oga Jona warm while madam Patience dey Germany.....

You now want her sacked? waitin Oga go hang on to when first lady takes another trip abroad?

Senetor, Abeggiii... no go there o, if you don't want Jona to deal with u...

Do people like you EVER get tired of associating GEJ with sexual innuendos? This is so uncalled for.

The Senate is just breathing hot air as usual...

Woman with harvard degree, No b same senate wey ekweremadu yap say some b illiterates. Dis legislooters should STFU and do wat they were elected to do. I never see any one of dem raise motion se their salary and allowance too much. Mad bunch.

http://ireports-ng.com/2012/05/08/aruma-oteh-is-a-lawless-dunce-says-okereke-onyiuke-as-reps-threaten-to-order-arrest-of-sec-dg/

[size=20pt]Aruma Oteh Is A Lawless Dunce, Says Okereke-Onyiuke…As Reps Threaten To Order Arrest Of SEC DG[/size]

[b]Barely 24 hours after she was accused of plundering the Nigeria Stock Exchange, NSE by the Director General of the Securities and Exchange Commission, SEC Ms Aruma Oteh, the former DG of NSE, Dr Ndidi Okereke-Onyiuke hit back at the former, accusing her of lawlessness and clueless.

She told the House of Representatives Ad-Hoc committee probing the near collapse of Capital Market that Oteh was covering up her low understanding of the capital market with her rough ride even as she insisted that she legally remains the DG of NSE.

Oteh had on Monday while addressing the Committee reeled out how Onyiuke’s financial recklessness contributed in no small measure to the near crash of the market. She said the report of the Risk and Disciplinary committee showed how the ex-NSE boss spent a whooping N180 million to buy Rolex wrist watches, N1.3 billion on foreign trips among others.

Meanwhile, the stage appears set again for another round of war between the mudslinging SEC DG and House of Reps panel as the Chairman of the newly constituted panel, Hon Ibrahim Tukur El-Sudi today accused Oteh of arrogance and trying to sabotage the work of the new panel. He therefore summoned her to appear before it tomorrow or face arrest.

El-Sudi was reacting to a letter by Oteh requesting the committee to allow her respond to their questions in writing rather than appear before it today adding that she needed to attend the National Economic Management Team(NEMT)meeting chaired by President Goodluck Jonathan.

”I write to inform you that I am unable to attended the public hearing today because I will be attending the National Economic Management Team meeting chaired by the President, His Excellency Dr Goodluck Ebele Jonathan(GCFR)”, she had stated in her letter.
But the committee chairman dismissed the letter insisting that Oteh must appear before it and clear some grey areas regarding her handling of the recovery effort of the market. He claimed that the DG’s letter had an aura of arrogance, an affront he said would not be permitted.

“Arunma Oteh is hereby ordered to appear before this committee by 10am tomorrow. she should come with all relevant materials, otherwise we will invoke relevant provisions”, El-Sudi had declared.

While trying to explain her role in the poor shape of the capital market, Onyiuke accused Oteh of willfully engaging in baseless allegations just to cover up her inefficiency. Although she admitted that her regime bought some wrist watches she said that they were used for the long service award organized by NSE.

[/b]

Kei!!!
When two SINGLE, 'fat' Igbo women fight. . .THE FOREST WILL SUFFER!

80 million naira hotel bill in 8mths on SEC and a house in the same abuja. food bill ?
Very very prudent person

afam4eva: I think this personal have a hidden vendetta against this woman. What exactly is there grouse with her?

I don't think so. Her role in the un-ceremonous dismissal of Ndi Onyiuke as NSE boss is what is haunting her. Me thinks she's only getting a dose of her own medicine. Karma is a wicked woman!

Anybody that can get under the legislooters skin like this has my blessing! Go Oteh Go!!!

the woman was externally brought in to sanitize the rotten sec but she has been greeted by envious incompetent staff that were expected to be promoted to that position.you cant expect less. i was shocked the day i was listening to one of sec's former comissioner or whatever speaking as if he did nt have a clue about the workings in capital mkt on the heat of otehs saga. though he accepted that what was going on there was pure manipulation by quoted companies and their sec cronnies

The biittch should be thrown out quickly. I support this Senate resolution abeg. See how she has been prancing around Abuja with the smug self-assurance of a woman that has been sucking the president's prick.

The erstwhile House of Reps Chairman of Committee on Capital Markets (Hembe) has long been relieved of his chairmanship, tried in the courts, and subjected to humiliating media insults - just because he exposed this woman's violation of public service best practices and regulations. Why is she still there as SEC DG? If Hembe had to go, then she also has to go. Her continued stay as SEC DG is an affront to the National Assembly. It is almost like saying that any slut is more powerful than the National Assembly if she has bedroom 'connections' in the presidency.

Why are these Legislators disturbing this woman? Make dem leave her na! Seems her presence is discomforting some people.I tire for NASS members o!

pro01: The biittch should be thrown out quickly. I support this Senate resolution abeg. See how she has been prancing around Abuja with the smug self-assurance of a woman that has been sucking the president's prick.

The erstwhile House of Reps Chairman of Committee on Capital Markets (Hembe) has long been relieved of his chairmanship, tried in the courts, and subjected to humiliating media insults - just because he exposed this woman's violation of public service best practices and regulations. Why is she still there as SEC DG? If Hembe had to go, then she also has to go. Her continued stay as SEC DG is an affront to the National Assembly. It is almost like saying that any slut is more powerful than the National Assembly if she has bedroom 'connections' in the presidency.

While you're entitled to your comments, it reeks of hatred and most importantly,lacks self thought and restraint. Why in NL's name will she be sucking on his prick? Isn't this stupidity of the highest order? Where is your show of decency? If NASS has anything on her, they know the right channel to do so. After all, in a "DEMOCRATIC SOCIETY", they would have taken necessary legislative step to remove her i.e., but they have nothing on her other than HOT AIR... Abeg calm down jor, and STOP blowing hot air like they're doing

The want her to go ny force

about time

pro01: The biittch should be thrown out quickly. I support this Senate resolution abeg. See how she has been prancing around Abuja with the smug self-assurance of a woman that has been sucking the president's prick.

The erstwhile House of Reps Chairman of Committee on Capital Markets (Hembe) has long been relieved of his chairmanship, tried in the courts, and subjected to humiliating media insults - just because he exposed this woman's violation of public service best practices and regulations. Why is she still there as SEC DG? If Hembe had to go, then she also has to go. Her continued stay as SEC DG is an affront to the National Assembly. It is almost like saying that any slut is more powerful than the National Assembly if she has bedroom 'connections' in the presidency.

Bros, I don't seem to understand your grouse with the woman. Are you saying that because she refused to give bribe to Hembe and his cohorts she has committed an offence? Damn it! You must be one of those feeding fat on the rot (corruption) in the Nigerian system.Wake up! Like already pointed out by a member above, the Nigerian Stock Market is on the march to boom again. You better go and buy your shares now and profit from the able leadership of this Lady.

Who gives a 4k?

It is a good thing they call to order the executives anytime, but i do not see any credibility in the present Mark's led senate. They should go and borrow a leaf from The Hero (Ken Nnamani) led-senate so as to revive their lost glory. Sorry for the little digress; senator Ken Nnamani is one of the greatest senate president we have had so far in this country. You will not hear his name because in Nigeria, we celebrate mediocre instead.

PROUD-IGBO:
Is it the same capital market that has been recording gains in recent weeks?

WHAT GAIN? WHEN OUR HONORABLE SENATORS ARE NOT GETTING THE USUAL CHUACHUA AND YOU CALL IT GAIN? WE MUST GO BACK TO OUR OLD SYSTEM, CHOP I CHOP

I doubt if the so called Honourable knows the nitty-gritty and the workings of the capital market, a market that was already in comatose prior to the coming of Oteh, no rocket science approach can bring the desired change over night.

Apart from a poor working relationship with the staffs, Oteh, in my opinion is not faring badly and operators in the capital market will acknowledge this. I'm talking as an insider.