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Oteh To Be Redeployed To Sovereign Wealth Fund - Politics - Nairaland

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Why Gen. Olukolade, Marylin Ogar Should Be Redeployed To Borno State / Orji Heads Sovereign Wealth Fund / At Last, Gej Agrees To Sovereign National Conference. (1) (2) (3) (4)

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Oteh To Be Redeployed To Sovereign Wealth Fund by free2ryhme: 8:40am On Dec 24, 2012



The face-off between the Presidency and the National Assembly over the Director General of the Securities and Exchange Commission (SEC), Ms Arunma Oteh, may have come to a head, at the weekend with a soft landing for her. The Presidency is set to redeploy her to the new Sovereign Wealth Fund (SWF), Daily Sun learnt. Her stay at the commission has strained the understanding and relations between both arms of government, with the latter consistently demanding her sack, and refusing to do business with SEC, under her leadership.

The Senate Committee on Capital Market recently walked out the SEC team that came for budget defence. This was quickly followed with the National Assembly, passing the budget with a zero allocation to the commission. A top National Assembly source, however, confided in Daily Sun that the allocation to SEC was merely withdrawn and kept out of the books, pending compliance with demands for her sack, and would be promptly facilitated for a new leadership at the commission.

“The money for SEC was budgeted for, but kept out. When a new director general is engaged, it will be availed for the new person,” the source said. The Presidency was, however, aware of the dangers in spending unbudgeted funds and was not keen on falling prey to charges of constitutional abuses. Recently, President Goodluck Jonathan at a meeting with the leadership of the National Assembly at the Aso Rock villa, sought for a special understanding in the passage of N168.7 billion spent unbudgeted funds.

At the parley, which also had his Chief of Staff, Chief Mike Oghiadome in attendance, the National Assembly leaders tasked Jonathan on the need for mutuality in their relationship, reiterating the need to comply with the House of Representatives resolution to sack Oteh. They were told that ‘something was being done about it’. As part of the rapprochement, the Minister of Finance, Dr. Ngozi Okonjo-Iweala was confidentially enjoined to source for a fitting soft landing for her, in a manner that would not hurt the pride and esteem of the Presidency. Following the new understanding,

Oteh was reprimanded over her outburst at the walk out of her team by the Senate Committee on Capital Matters. Consequently, she and officials of the commission did not react to the zero allocation to the commission in the 2013 budget. Meanwhile, the Presidency is set to recruit a replacement, who has, at least, 15 years experience in capital market operations in line with the demands of the National Assembly and the Capital Market Act. Oteh, who previously worked abroad at the Africa Development Bank (ADB), was said to boast of only 10 years experience in the finance sector, before assuming office at the helm of SEC.




http://sunnewsonline.com/new/national/sec-face-off-presidency-set-to-redeploy-oteh/
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by miteolu(m): 11:43am On Dec 24, 2012
Principle of In to In
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by Abujafood: 11:44am On Dec 24, 2012
National Assembly members ought to be ashamed of themselves!

6 Likes

Re: Oteh To Be Redeployed To Sovereign Wealth Fund by Oluwalala(m): 11:46am On Dec 24, 2012
All na propaganda, she's to b outrightly sacked!
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by Billyonaire: 11:51am On Dec 24, 2012
Compromise is welcomed, but I think the Legislatures are rather emotional, sentimental, egotistic and have magnified utter disregard for professionalism in their demand for a replacement. I notice that mafioso hates intelligence with a passion, they can do a way with any person who outsmarts them in intelligence. Am I saying our legislatures are legalized mafioso ? Yes, you can quote me.

4 Likes

Re: Oteh To Be Redeployed To Sovereign Wealth Fund by blink182(m): 11:52am On Dec 24, 2012
This woman is definitely phucking the right people.
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by kenlash: 11:54am On Dec 24, 2012
Dis NASS Ppl just hhate her wif passion. I'm stl wondering wat is dia motive. Dey Hate ppl that can stand up to Dem. God help us all.
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by k2039(m): 11:54am On Dec 24, 2012
Cronyism and nepotism one of Nigerias biggest problem
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by Afam4eva(m): 11:56am On Dec 24, 2012
What's really the problem the reps have with this woman. Is it because she exposed Hembe?

1 Like

Re: Oteh To Be Redeployed To Sovereign Wealth Fund by tizblink(m): 11:56am On Dec 24, 2012
hmmn!buh don't understand why the NASS want her fired abi na sacked*thinking*
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by Arysexy(m): 12:00pm On Dec 24, 2012
Bunch of animal legislooters! is d Budget of SEC Arumma's personal budget? Shame to those animals we call lawmakers! Their personal ego is being considered first instead of national interest? So If GEJ insists Oteh will Stay they will deprive Nigeria of her Budget for SEC? Bunch of nitwits!
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by esere826: 12:02pm On Dec 24, 2012
afam4eva: What's really the problem the reps have with this woman. Is it because she exposed Hembe?

I guess that is the reason
our lawmakers are big babies
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by 234GT: 12:14pm On Dec 24, 2012
Ko dara lati maa fi eran dindin so ologbo. Meaning: Asking a cat to watch over your fried meat is not good.
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by miiraaj: 12:16pm On Dec 24, 2012
What's happening? I thought Oteh and Hembe are supposed to be in prison? Oooops! This is Nigeria.
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by Yomieluv(m): 12:27pm On Dec 24, 2012
Seems these people are kind of in a cult,they can't probe each other at all.
This woman ought to be in prison,wonder why she can't spend xmas in kiriki.
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by mkoabiola: 12:45pm On Dec 24, 2012
Ds woman de open kitty cat for d cabals in power.
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by shaibolo: 12:49pm On Dec 24, 2012
This woman is refusing to be cowed by these legislooters and they are not able to deal with such audacity. Na wa o. We are watching.
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by iv4fb: 12:54pm On Dec 24, 2012
clash of the titans.

1 Like

Re: Oteh To Be Redeployed To Sovereign Wealth Fund by Pain: 1:01pm On Dec 24, 2012
Recycling Garbage. What else do u expect from Goofluck aka Garbage Joe?
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by sonyoung: 1:02pm On Dec 24, 2012
yet another failure of GEJ, he can't openly say NO to ds legislooters, age is not an issue in employment,what GEJ would ve ask himself is,has this woman really work/done her job well? same error over d sack of Azazi b4 killing him
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by Series22(m): 1:04pm On Dec 24, 2012
Kitty-Cat
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by shizzle11(m): 1:06pm On Dec 24, 2012
Abujafood: National Assembly members ought to be ashamed of themselves!

Exactly! They are a bunch of hypocrites and nonentities
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by taharqa: 1:18pm On Dec 24, 2012
afam4eva: What's really the problem the reps have with this woman. Is it because she exposed Hembe?
YEA....and the manner she exposd him. Hv u seen d video?
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by taharqa: 1:21pm On Dec 24, 2012
Yomieluv: Seems these people are kind of in a cult,they can't probe each other at all.
This woman ought to be in prison,wonder why she can't spend xmas in kiriki.
Why shld she be in prison?.... Smtimes, i just dont know what to say to sm of u!!
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by porka: 1:48pm On Dec 24, 2012
Can't she resign?

Is it by force to serve your country?

Susan Rice (btw she was present when MKO Abiola drank that tea) said her nomination hearings would be contentious and gave up.

This Arumah lady has been going from one controversy to another and still there.

Is she so useless outside SEC?

SWF has a CEO already though.

2 Likes

Re: Oteh To Be Redeployed To Sovereign Wealth Fund by danny301: 1:56pm On Dec 24, 2012
When some of you keep on saying you don't know why the NASS wants Oteh sacked it shows our level of insincerity in this country...... The NASS stated clearly that the Director of SEC is suppose to have 15 years working experience in the financial institution and that Oteh has just 10 years experience and as far as i know nobody has disputed that constructively yet,instead all we hear is people calling the NASS all sorts of names........... Am not for the the NASS per-say neither do i have anything against the person of Oteh but i feel no single individual is worth causing disharmony btw the legislative and the executive arms of govt to the detriment of all Nigerians..... If Oteh is the only problem btw Mr. President and and the NASS then it's a only wise for the later to redeploy her, that's maturity and not weakness,after all i didn't see any special thing happening under Oteh' s leadership in SEC that cannot happen under some else.

1 Like

Re: Oteh To Be Redeployed To Sovereign Wealth Fund by danny301: 2:10pm On Dec 24, 2012
sonyoung: yet another failure of GEJ, he can't openly say NO to ds legislooters, age is not an issue in employment,what GEJ would ve ask himself is,has this woman really work/done her job well? same error over d sack of Azazi b4 killing him

Age is not an issue, right? That's how you people go about talking about everything including the ones you know nothing about..... SEC came by an act (law) and the act by which it came to be states that the Director must have 15 years working experience in the financial institution and here you are boldly yet ignorantly saying "age is not an issue in employment" just because you want to make comment.

1 Like

Re: Oteh To Be Redeployed To Sovereign Wealth Fund by glamourhampers: 2:12pm On Dec 24, 2012
is that a promotion for her or the contrary
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by tutu1: 2:21pm On Dec 24, 2012
Nigeria always putting things under the carpet. What happened to Eteh scandal so no one was charged with corruption? Its business as usual. As for national assembly I dont see them taking the same srious approuch towards more importatn issues eg 1 the state of Nigerian police force and security, 2 Curruption and infrastructure. Nawa sha we are finished in this country
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by PROUDIGBO(m): 2:31pm On Dec 24, 2012
Yomieluv: Seems these people are kind of in a cult,they can't probe each other at all.
This woman ought to be in prison,wonder why she can't spend xmas in kiriki.

^^^What did she do that warrants prison......care to tell us Yomi?
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by taharqa: 2:48pm On Dec 24, 2012
danny301:

When some of you keep on saying you don't know why the NASS wants Oteh sacked it shows our level of insincerity in this country...... The NASS stated clearly that the Director of SEC is suppose to have 15 years working experience in the financial institution and that Oteh has just 10 years experience and as far as i know nobody has disputed that constructively yet,instead all we hear is people calling the NASS all sorts of names........... Am not for the the NASS per-say neither do i have anything against the person of Oteh but i feel no single individual is worth causing disharmony btw the legislative and the executive arms of govt to the detriment of all Nigerians..... If Oteh is the only problem btw Mr. President and and the NASS then it's a only wise for the later to redeploy her, that's maturity and not weakness,after all i didn't see any special thing happening under Oteh' s leadership in SEC that cannot happen under some else.
Yea, u are right. Thats d ONLY tin they hv ova her; and Yea, d law shld be follow strictos always. But plz say, who approvd Oteh's appointment in d 1st place? Was it not d same NA? How come they just realisd d law said 15yrs instead of 10 when they made d Confirmation in d 1st place and oh, afta Oteh 'arrogantly' exposd 2 of its membas as corrupt?.... You go figure...
Re: Oteh To Be Redeployed To Sovereign Wealth Fund by utumunta(m): 2:49pm On Dec 24, 2012
afam4eva: What's really the problem the reps have with this woman. Is it because she exposed Hembe?

YES! D NASS is now a mafia establishment & d sicilian code -omerta- is sacrosanct n binding on all d members.
Later sum chaps wl tell us 2 vote buhari cos he's an anti-corruption crusader. Are members of d CPC(a party 'owned' by buhari) nt a party 2 dis? Oteh's sin is exposing Hembe, jus as Otedola exposed fa.g-cro.o.k.
Am beginning 2 believ Abdulrasheed Maina n hz stories of d senate & 109 dwarfs.

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