Fresh facts emerging from the ongoing battle at the Federal High Court between Ndi Okereke-Onyuike, the embattled former Director General of the Nigerian Stock Exchange (NSE) and the Securities & Exchange Commission (SEC) indicate that Okereke-Onyuike may have obtained her appointment at the Exchange on false pretext.

Following investigations carried out by the SEC, there is evidence now in public domain to show that the ousted NSE boss had lied and misrepresented facts about her qualification and skills to the NSE.

Okereke-Onyuike, whose letter of application (for a job) to the NSE dated November 12, 1981, and addressed to the Director General of the NSE then,  Hayford .I. Alile, highlighted her "fascinating experience" at the New York Stock Exchange (NYSE), also emphasising how the experience gained there proved that she would enjoy working for the NSE.

The letter in question, obtained by BusinessDay and currently in the records of the court as Exhibit AO1, reads: "The securities industry has always been a fascinating experience for me, and my being part of the New York Stock Exchange has proved to me that I would enjoy working in the NSE more than in any other organisation in Nigeria…."

She went on to refer the addressee to some attached documents, consisting of a Curriculum Vitae, and an inventory of General business, non-business & data processing skills, which she referred to in her application as an "inventory of my general business and technical skills", stating further that these "skills" meant that she would fit into any area of the organisation.

Forming a part of the document was a description of her employment at the New York Stock Exchange (NYSE), her position as Exchange Services Manager & Systems Analyst, as well as her job description; a position she claimed she had held from December 1976 until the date of her formal job application to the NSE, November 12, 1981.

On the basis of her "inventory of business and technical skills" in the securities industry, the NSE offered Ndi Okereke-Onyuike a job as a Manager on January 4, 1983 which she accepted via a formal letter dated February 21, 1983. She was eventually appointed Director-General and Chief Executive Officer of the Exchange in 2000.

However, with the commencement of investigation into the circumstances surrounding the employment of the ousted DG, a declaration has been made by the NYSE, refuting all claims by  Okereke -Onyuike that she had worked at the NYSE.

The sworn affidavit deposed to by the Chief Counsel, Litigation, Legal & Government Affairs, of the NYSE, Andrew D. Richman, which has also been filed alongside the counter-affidavit by the defendant's Counsel and marked Exhibit AO2, revealed that on the request of the United States Securities and Exchange Commission, two separate searches had been conducted - one on October 4, 2010 and another on October 7, 2010 - to determine whether Ndi Okereke-Onyuike ever worked with the NYSE. The findings of both searches led to the discovery that she was never an employee of the New York Stock Exchange or the Securities Industry Automation Corporation (SIAC) at any given time, as she had presented in her letter and documentation (inventory of general business and technical skills) to the NSE.

The affidavit which read in part: "After a diligent search of both electronic and paper files, including files relating to former employees, NYSE staff found no record that Ms. Ndi Okereke-Onyuike ever worked at either SIAC or NYSE", was signed by Andrew D. Richman on October 8, 2010.

Okereke-Onyuike will be called on to explain these emerging facts surrounding her qualification and employment if the application to cross-examine her made by the defendant's counsel, Babatunde J. Fagbohunlu, SAN, on December 21, 2010, is granted by the court at the resumed hearing on February 8, 2010.

It would be recalled that Okereke-Onyuike had been removed as Director General of the Nigerian Stock Exchange by SEC via a notice dated 4th August, 2010, and a subsequent letter dated August 5, 2010, amidst allegations of impropriety and mismanagement of funds.

The embattled former DG had promptly run to the court to challenge her removal by the Commission. In her originating summons, she had asked the court to declare, amongst other things, that the defendant had no power to terminate her appointment or remove her from office; stating that the process was carried out without compliance to the relevant laws; was in violation of the Investment and Securities Act (ISA), and in breach of her rights to fair hearing; thereby rendering it illegal, null and void.

In her written address, she had also pointed out that the Commission lacked the capacity to terminate her appointment, as her employer was the NSE and not the SEC.

However, in the latest development of this suit, the NSE, through its Counsel, Yemi Osinbajo, SAN, has asked to be joined as a defendant in the suit on the grounds that the reliefs sought by the plaintiff will have direct consequences on the operations of the NSE

Ụ dnt kw what else 2 say.prof.onyuke is an icon.a wel known acada woman.a lecturer of repute.

I know she is an icon. U probably don't know her as much as I do! But a reputable newspaper is saying ussec and nyse have disowned her! Just posting the info! Don't shoot the messenger

The question comes to mind, "Why was it not discovered that Okereke-Onyiuke faked her qualification before she was appointed for such a top position?" Why is it that we ridicule ourselves in all we do? We have only succeeded in washing our dirty linen in public. Its high time we learn to do things right.

@ Najalyn & Ikennahill

Whatever her achievements, does that remove that she lied to get her employment at the NSE? Must these people lie just because they were abroad and need to get an upper hand over their fellow applicants who maybe never left these shores?. Its symptomatic of these been-tos, Toronto, Chicago etc.

The other point is she went to court to upturn her dismissal to save her face and when you come to equity, come with clean hands. No doubts, she and her ego are the cause of the problems besetting the capital market and indeed the country. You guys should grow beyond this ethnic disorientation.

She proved herself a thief in the job, so why couldn't she be a liar 30 years ago?

@ OP,

While not holding brief for Okereke onyiuke, we know that Zik was accused of not having a P.hd by Dele Barnes Giwa and should therefore be addressed as a "mister".

This smirks of a smear campaign. It is not out of place to lie on ur CV and neither is it a crime.

But Nigeria is a country full og unnecessary noise.

Must she work for NYSE as to be qualified to head or work for Nigerian Stock Exchange (NSE) and the Securities & Exchange Commission (SEC)? The level of inferior mentality constantly displayed by Nigerian is disgracefully alarming. The people who serve as directors at Japanese and Chinese stock exchange sectors never set feet in USA.

RoadStar:

This smirks of a smear campaign. It is not out of place to lie on your CV and neither is it a crime.

But Nigeria is a country full og unnecessary noise.

Are you fúcking kidding me? She was responsible for the country's stock exchange, you muppet!. . . this is nothing but fraud, she should be going to jail!. .  a care worker got a jail term in the UK for lying on her CV that she had A levels when she actually did not.

It's disgusting that supposedly smart people don't see a big deal in this, with this kind of mentality, whoever is talking about a better Nigeria is clearly delusional!

RoadStar:

This smirks of a smear campaign. It is not out of place to lie on your CV and neither is it a crime.

But Nigeria is a country full og unnecessary noise.

This is how you legitimatize mediocrity by sacrificing excellence at the alta of nepotism. On account of tribal affiliations, you close your mind and eyes to the evil that is inherent in allowing a fraud to serve at the highest level of the decision making body in the nations capital market. This is very very sad.

It is not out of place to lie on your CV and neither is it a crime.

the hallmarks of a failed generation.

Emeagwali first, now Okereke-Onyiuke, who next?