Former Director General, Nigerian Stock Exchange (NSE), Ndi Okereke-Onyiuke, is blaming erstwhile President and Chairman of the Council, Aliko Dangote, for the inability of her management to present the audited accounts for 2009.

Mrs Okereke-Onyiuke’s declaration was contained in her response to the memo issued by the Director General, Securities & Exchange Commission (SEC), Arunma Oteh, in the wake of recent allegations of corporate governance lapses levelled against her by Mr Dangote, which were considered detrimental to investors’ interest.

Mr Dangote, in a petition, had alleged that the Exchange under her leadership was not only insolvent, but may face bankruptcy as well as be unable to meet its financial obligations.

But Okereke-Onyiuke, in her response to the SEC memo obtained by NEXT yesterday in Abuja, dismissed the allegations as a confirmation of her suspicion that Dangote was “bent on destroying the Exchange following the ruling of the Federal High Court nullifying his acclamation as the President and Chairman of the Council of the Nigerian Stock Exchange.”

A Federal High Court in Lagos had annulled Mr Dangote’s election as President of the NSE following its ruling in the legal case instituted against him by aggrieved shareholders in the wake of allegations of manipulation of the shares of African Petroleum PLC in the Stock Exchange two years ago.

According to the former Director-General, Mr Dangote was mischievous with his allegations of insolvency of the Exchange, considering that as a member of the NSE Council at the time the accounts were considered and approved, he never brought any of the allegations to the attention of the Council for discussion or investigation.

Blame to Accenture

On why the management of the Exchange was unable to produce, for consideration of the Finance and General Purpose Committee of the Council, the interim financial statement for the first and second quarters of 2010, the former NSE boss said that though the first quarter and half-year accounts were prepared and filed with the SEC by May 13 and July 27 respectively, Mr Dangote should be held responsible for why the Council could not meet to consider them.

“As a member of the Finance and General Purpose Committee, the petitioner (Dangote) should be in a better position to give reasons as to why the Finance and General Purpose Committee of the Council could not meet to consider the accounts. This is obvious, because of the court judgment against him,” she said.

On the outstanding indebtedness of the Exchange to Accenture Consultancy, Mrs Okereke-Oyiuke blamed the company for creating the payment difficulties for themselves, saying they “completely avoided (NSE) management in the drive to generate more business for themselves under questionable and uncompetitive manner by dealing directly with Alhaji Dangote as if he is the Chief Executive Officer of the Exchange.”

Accenture, she pointed out, “was foisted on the Exchange without subjecting them to due process or competitive bidding process”, adding that “no other consultancy firm was invited to submit a proposal to the Exchange for a project valued at N212 million, out of which a total of N166 million was paid, with the last payment of N60 million done on June 15, 2010.”

On insinuations that she planned to perpetuate herself in office, Mrs Okereke Onyiuke denied any such ambition.

http://234next.com/csp/cms/sites/Next/News/5616349-147/story.csp

when will this ugly woman shut up

vicknesh:

when will this ugly woman shut up

Somebody is responding to an allegation levied against her and you are asking her to shut up.

vicknesh:

when will this ugly woman shut up

I wonder when you will shut up.

vicknesh:

when will this ugly woman shut up

How do you define who is ugly?
Please discuss the issue and not the facial appearance.

I think she has the right to come out and defend the allegations levied against her I dont think their is any need to call her names yet lets wait and see how far she will go defending herself and clear her name.

it is only the dead who can't defend themseves, she is alive hale and healthy so therefore
LET HER SPEAK

THEY SAY BIRDS OF A FEATHER FLOCK TOGETHER, I GUESS A BETRAYAL OF SOUGHT IS HAPPENING, THEY BOTH SHARE THE GOOD TIMES TOGETHER AND NOW THEY ARE TRADING ACCUSING FINGERS, WHY CAN'T BOTH OF THEM COME OUT WITH THIS ALLEGATIONS SINCE, TIME WILL TELL WHO THE LIARS IS. i HOPE THAT THE TWO GLADIATORS OR ELEPLANTS IF I MAY YOU USE THE WORD HAS NOT ALREADY JEOPARDISE THE ACTIVITIES OF THE STOCK EXCHANGE FOR THEIR OWN SELFISH INTEREST

As 4 me make dy go luk bush dy are d same anybody way dn enter aso rock see am run she dy yah wat hisss

These people and their funny games

http://lekanbaruwa.

Is this an audit of SEC or Dangote's company?

when will this ugly woman shut up


please can u download ur picture and lets see how fine u are