Scorned by lawmakers, despised by workers but discharged by the Federal government from any criminal breaches, Arunma Oteh, the Director General of the Security and Exchange Commission (SEC) has demonstrated  uncommon guts which set her apart as an amazon made up of a stainer stuff.

A play back of the drama that ensued at the public hearing organsied by the House Ad Hoc Committee which probed the near collapse of the capital market under the chairmanship of Herman Hembe no doubt defines Arunma Oteh as quint essential technocrat.

She had the temerity to accuse the chairman of asking for gratification from her which she refused to give. She therefore, queries the competence o the chairman and expressed fear that justice may elude her under such situation.

Consequent upon these accusations, the committee chairman opted to “step aside,” and surrendered himself to the Economic and Financial Crime Commission (EFCC) for investigations.

However, disturbed by the plethora of accusations against this amazon by her contemporaries at SEC, the board of the commission placed her on suspension and hired a renown firm, Price Water Coopers Limited to probe the alleged “questionable” handling of the fund realized from “Project 50”, an event the commission organized in 2011.

Arunma Oteh, DG. SEC returns

Even while the investigation by the firm was on-going, the lawmakers made satire on her and SEC workers sang a dirge on Arunma Oteh who only wants to work with order, peace, moderation and patience never recoiling before weariness or difficulties.

At a point, the Minister of Finance, Dr. Ngozi Okonjo-Iweala who is the Supervising Minister in charge of the commission urged Nigerians to exercise patience pending the outcome of the investigation by Price Water Cooper.

And at last, Arunma was exonerated by the firm of any criminal breaches. Against this backdrop, the Federal government, in its wisdom through a letter by the Secretary to the Government of the Federation (SGF), Anyim Pius Anyim, said she was neither indicted for fraud nor criminal charges in any firm except for only some administrative lapses which were not enough to sustain the suspension order.

This position by the Federal Government sparked a fresh crisis at SEC, as the workers like bullfrogs went on rampage over her recall to resume duty.

Again, the Finance Minister, Okonjo-Iweala, in a visit to the commission, enjoined the workers to accept Oteh back, adding that her recall was based on the findings and recommendations of independent auditors and her recall followed due process.

But the House of Representatives would not accept such explanation. The lawmakers in their report which was debated and adopted barely 24 hours after the Federal Government recalled Oteh from suspension slammed on her on June 12 by the Board of SEC insisted the suspension be sustained.

Also, the report of the House Ad Hoc Committee, led by Mr. Ibrahim El Sudi specifically stated that the embattled Director-General appointment violated sections of the Investment and Security Act 2007 in that she did not have 15 years experience in the Nigerian capital market as required.

Worse still, the lawmakers listed the recall of Arunma Oteh as Director-General of SEC as one of the reasons President Goodluck Jonathan must be impeached. Hear him: “We all felt insulted that the President also recalled the Director General of the Security and Exchange Commission (SEC), Ms. Arunma Oteh inspite of issues surrounding her tenure.”

From all indications, it has become obvious that there are people who do not want Arunma Oteh back in SEC inspite of her intimidating credentials because of the pecuniary interest they represent in the system. Although, for the lawmakers it may not be out of place to assume that they are seeking a pound of flesh following the accusation of bribery Arunma made publicly against the first Ad Hoc House Committee Chairman, Herman Hembe. For the lawmakers, an injury to one is an injury to others.

It will be recalled that before Arunma Oteh mounted the podium of SEC board, a lot was written and said about the commission. For most Nigerians, the nomenclature of the commission was changed to Security and Exchange Corruption consequent upon the colossal loss of money to the stock market by investors whose only hope of survival then depended largely on daily returns on their investment on stocks.

Quite aware of the inherent problems threatening the operations of the market, Oteh, upon assumption of duty introduced some radical reforms which helped to checkmate leakages in the porous system. Unknown to those behind the stagnation of the commission, this amazon has already trained her hands for war and her fingers for battle as she indeed fought like a wounded lion against those who had devised dubious means of manipulating the system to the detriment of the market.

However, it may not be out of place to deduce that Oteh’s detractors are within the commission. It was on record that most senior personnel of the commission were angling for Oteh’s job when the position was vacant. Such persons who are still in the system may certainly not want Oteh to make any appreciable impact. Any positive effort towards reformation of the commission may be misinterpreted.

Furthermore, as part of the pull her down syndrome, this group of persons may as well have sponsored the mass protest by workers of the commission following her recall by the Federal Government.

Although Arunma Oteh was scorned by the lawmakers and despised by the workers,  she still demonstrates pure intention to serve her fatherland, detaching from herself vain complacency in success and having always before her the fact that she must render  an account  to the work of public good.

Those after her  talked emptily of Arunma Oteh, gathering slanderous gossip to terminate her impeccable disposition but just as one of the pillars that adorn the corners of the executive temple, the D-G is bound to flourish like a palm tree planted by the riverside  that cannot be moved.

But like a mother that she is, Arunma must bury the hatchet to move forward. She must disappoint her detractors and embrace the workers with an open mind in order to make meaningful headway in the commission which is riddled with series of crisis.