SEC DG IS SENT ON COMPULSORY LEAVE

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Reports from various news sources indicate the embattled Director General of the Securities and Exchange Commission, Arunma Oteh has been sent on compulsory level by the Board of SEC. Ironically just under a month ago she returned un-opposed as chairperson of the African/Middle East Regional Committee (AMERC) at the annual conference of the International Organisation of Securities Commissions (IOSCO) which took place in Beijing China.

I’m not sure there is any provision in the SEC Act that gives the board the powers to send the DG on compulsory leave. It will be interesting to see how this unfolds