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.

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