SEC queries Okereke-Onyuike over bank debts – The Nation
August 20, 2009 by tim
The Securities and Exchange Commission (SEC) yesterday queried Director-General (DG) of the Nigerian Stock Exchange (NSE) Prof. Ndi Okereke-Onyiuke over her involvement in some debts owed two of the five troubled banks.
She has seven days to respond.
Besides, SEC suspended any top executive of the banks, who is a member of the NSE Council.
These decisions were taken at SEC’s Board meeting in Lagos.
Ousted Vice Chairman/Group Chief Executive of Intercontinental Bank Plc Erastus Akingbola is the second vice president of the NSE council.
On Monday, the DG said Akingbola held office as an individual and could only be removed from council, if indicted by the court.
In an advertorial published in some newspapers yesterday by the Central Bank of Nigeria (CBN), Mrs Okereke-Onyiuke was named as a director of Transnational Corporation of Nigeria (TRANSCORP), which is owing Union Bank Plc and Intercontinental N30.863billion and N3.594billion.
