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Ikazoboh debunks non return of official car to NSE


Controversy is trailing alleged non-return of the Nigerian Stock Exchange (NSE) vehicle, Mercedes S-Class (plate number withheld) by former Interim Administrator, Mr. Emmanuel Ikazoboh, at the end of his appointment as Interim Administrator.

While Mr. Ikazoboh debunked the claim that he was withholding, NSE car, the NSE’s spoke’s person, Mr. Wole Tokede, insisted that he was not aware if the Exchange asked Ikazoboh to return any car.

However, a source said, the car that is less than two years old, was to be bought by the former Director-General, Professor Ndi Okereke Onyiuke for N3 million on ground that it was not used for longtime, was yet to be returned to NSE.

Mr. Ikazoboh, told Vanguard in a text message that he declined to go with the car after it was offered to him.

In his words “it was offered to me but I rejected it. It has since been returned to the NSE on the 13th May 2011 after my send forth party on the 12th.

However, Mr. Tokede said, “I have not heard that the NSE asked him to return any car. Which car are you asking of? To the best of my knowledge the Stock Exchange has not asked Ikazoboh to return any car.

However,Vanguard gathered that the former Interim Administrator was asked to return to NSE the Mercedes S-Class (plate number withheld) that he took away when he left the Exchange as Interim Administrator last month.

According to source, the car which was returned from Globe Motors after repairs on the day when the Ikazoboh team took over the Exchange was parked in the building.

It will be recalled that Ikazoboh’s administration was supposed to end on April 4, 2011, when the new Chief Executive Officer, Mr. Oscar Onyema resumed office. But the Interim Administrator continued to work until May 2, 2011, when he stepped down.

When Onyema, resumed office on April 4th, it was expected that Ikazoboh would step down immediately.

However, that was not to be as the Securities and Exchange Commission (SEC), which appointed him as interim head, further gave a directive for him to use one month as transition period.

Ikazoboh, who assumed office August 5th last year following the controversial sack of Ndi Okereke_Onyiuke as the Director General and Chief Executive Officer of the NSE, claimed that “the law governing the Exchange still permits him to stay on the NSE’s Council after the transition period.”


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