Reprieve came the way of Arunma Oteh, the suspended Director General of the Nigeria’s Securities and Exchange Commission as she was recalled by the Federal Government on Wednesday.
Street Journal’s findings revealed that Oteh’s recall was contained in a circular SGF.2/S.9/C.13/454 dated 17/ July, 2012 and signed by the Secretary to the Government of the Federation (SGF), Anyim Pius Anyim.
The content of the circular indicated that Oteh was asked to return to her job following the Federal Government’s consideration of the report of the external auditors, Price Water Coopers Limited, which probed the transactions of the Commission which she supervised.
The reports of the auditors absolved her of fraud, though she was blamed for some administrative errors.
The circular reads inter alia “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.”
Street Journal’s findings have revealed that the suspended DG obviously had very strong back up in the corridors of power as she attended a meeting at the Aso Rock Villa, while under suspension.
Meanwhile, workers at the Abuja office of the Securities and Exchange Commission staged a protest to prevent her from resuming. Law enforcement agents were also seen around the office apparently to prevent the situation from degenerating.