Shareholders under the aegis of the Progressive Shareholders of Nigeria have called for the resignation of the Director-General, Securities and Exchange Commission, Ms. Arunma Oteh, in view of the startling revelations on misappropriation of funds.

Reacting on behalf of the group, their National Chairman, Mr. Boniface Okezie, said the act setting up SEC made it its duty to protect the interest of the shareholders but lamented that the contrary had been the case.

Okezie said that the issues arising from the investigation by the House of Representatives of the Nigerian Capital Market were disheartening, saying Oteh should resign immediately.

He said that while investors at the stock market had been losing money daily without hope, the lavish use of money presumably meant for strengthening the structure of the market was being revealed.

He said, “What has SEC been doing with the subvention it gets yearly from the Federal Government to create a structure that would guarantee a future for investors?”

Source: Punch/Bosede Olusola-Obasa