Minister of Finance appoints the new Aciting Director-General of SEC

The Nigerian Minister of Finance, Kemi Adeosun, has appointed Mary Uduk as the Acting Director-General of the Securities and Exchange Commission, (SEC).

Uduk’s appointment is governed by the provisions of the Investments and Securities Act, 2007 and the conditions of service applicable to the Director-General of the Commission.

In a letter dated 13th April 2018, Adeosun said that Uduk’s appointment had become important  to ensure effective regulation of the Capital Market.

The Minister of Finance also announced the redisposition of the former acting Director-General of the Commission, Dr Abdul Zubair, to the External Relations Department.

Adeosun further reassigned following Persons: Reginald C. Karawusa – Acting Executive Commissioner, Legal and Enforcement, Isiyaku Tilde – Acting Executive Commissioner, Operations, Henry Roland Adekunle – Acting Executive Commissioner, Corporate Services.

Mrs Uduk joined the Commission in 1986 as an assistant financial analyst.

In the meantime, the new Acting Director-General appointment is coming two days after the confusion between SEC and the Nigerian Stock Exchange (NSE) over the shares Oando Plc.

NSE had lifted the suspension on the trading of Oando’s shares and suspended it again after three hours of trading. The agency later reversed itself, emphasing that it acted based on a directive from SEC.

Comments

Post a Comment

Popular posts from this blog

Beyoncé performs her song with Chimamanda Ngozi Adichie at Coachella festival

Image
The American superstar singer performed at the Coachella festival earlier today with an incredible 2-hour set that made fans gasped for air. During the set, Beyonce brought back her former girl group Destiny’s Child on stage, performed her song with Chimamanda Ngozi Adichie, paid homage to the late Fela Anikulapo-Kuti and did so much more. See photos: Watch some of the videos below: https://twitter.com/_/status/985440637335101440 https://twitter.com/_/status/985445861940518912 https://twitter.com/_/status/985436345429647360
Read more

Buhari establishes new target for production of crude oil

Image
As part of efforts to reposition the country’s oil sector, President Muhammadu Buhari has set new target for the production of crude oil. The president, who was represented on March 14 by Vice President Yemi Osinbajo at the sixth African Petroleum Congress and Exhibition (CAPE VI) in Abuja, revealed that government has started the process of cutting production costs to boost exploration in order to achieve a production level of about 2.8 million barrel per day (mbpd). President Buhari said the quantum leap would be 30% increase of production level of 2.4 mbpd being pursued. “In Nigeria, as part of our strategies to reposition the oil industry, this administration has commenced the process of implementing carefully conceived initiatives, to reduce production costs and encourage efficiencies in oil exploration so as to achieve a 30 per cent increase in daily production levels (to about 2.8mbpd),” he said. The president further disclosed that the country is working on mode to
Read more