The House of Representatives yesterday barred the Federal Government from financing the Securities and Exchange Commission (SEC) in 2013.
The House had in July this year adopted the report of its adhoc committee on the "near collapse" of the Nigerian capital market chaired by Rep. Ibrahim Tukur El-Sudi (PDP, Taraba) which called for the sacking of Director General of the commission, Ms. Arunma Oteh, over gross misconduct.
However, Oteh, who was earlier sent on compulsory leave by the government, was recalled back to her post in the wake of the consideration of the capital market probe report in July.
On resumption from two months annual recess, the House passed another resolution giving President Goodluck Jonathan 14 days ultimatum to sack Oteh.
"This means that the commission will not be able to pay salaries and embark on some expenditure as from January next year if Oteh remains the DG," said House Chief Whip Rep. Ishaka Mohammed Bawa (PDP, Taraba).
Oteh got entangled in a verbal brawl with the chairman of the House Committee on Capital Market and Institutions, Rep. Herman Hembe (PDP, Benue), when she accused him of soliciting N44 million bribe from her ahead of the botched investigation. Hembe however, denied the allegations.
