Arumah Oteh, DG Securities Exchange Commission(SEC) has admitted that she conferred unilateral powers on herself and took certain decisions without consulting directors working under her.
This was one of the revelations that came to light when she appeared before the House of Represntative adhoc committee on the capital market Wednesday.
Ms. Oteh was accompained to the hearing by Executive Commissioner, Operations-Daisy Ekineh; the Executive Commissioner, Finance and Accounts-Lawal Sani Stores, the Executive Commissioner, Legal and Enforcement-Charles Udora; and the Director of Human Resources-Useni Dauda.
On the controversial recruitment of some Access bank staff as contract staff for the commission, all the members of the management team stated that, they were not informed of the Ms Oteh’s decision to recruit the two bank staff into the commission on secondment.
Responding to this issue, Mrs Oteh though admitted that she did not consult any of the directors in recruiting contract staff, however insisted that she did not violate any law of the land.
Speaking at the hearing, the Head of the Human Resources of the commission, Mr Daudu said he had written a letter to the DG to inform her that employing contract staff is alien to the commission and that the commission could either regularize the employment of the staff or let them go.
“When the DG resumed duty in SEC, she came along with some staff and then we did advise that those staff have to go through the process of employment. We recommended contract appointment. Approval was given with the aim that later on all those who were employed will be collated and passed on to the execute management for recruitment approval. But till now the board have not discussed the matter,” Mr Daudu said.