Wednesday 18 July 2012

BREAKING NEWS: Federal Government Reinstates Arunma Oteh As SEC DG


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According to Premium Times reports, the Federal Government has recalled the suspended Director -General through a circular; SGF.2/S.9/C.13/454 dated July 17 and signed by the Secretary to the Government of the Federation, Anyim Pius Anyim. Mr. Anyim said Ms Oteh was been reinstated after an audit of the commission failed to indict her in any way. He however cautioned her for some administrative lapses identified by the auditors.


The circular reads:
 
"Please refer to the decision of the Board of Securities and Exchange Commission (SEC) to send you on compulsory leave in order to enable SEC's external auditors-the Price Water Coopers Limited (PWC), to examine the records of the Commission's transactions covering SEC project 50 which you supervised.
 
"I am to note that Government has studied the report submitted by the external auditors and you are neither indicted for fraud nor criminal breach in any form. However, some administrative lapses were reported, particularly, in cases where administrative procedures were not thoroughly observed.
 
"The purpose of this letter is to recall you from your leave and to caution that you must henceforth endeavour to diligently observe all extant rules and administrative procedures in the conduct of all official transactions".

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