By  Abdulwahab Abdulah
LAGOS—JUSTICE Morenike Obadina of a Lagos High Court, yesterday, restrained the Police, Economic and Financial Crimes Commission, EFCC, and the Securities and Exchange Commission, SEC, from arresting and detaining the sacked Director-General of the Nigerian Stock Exchange, NSE, Professor Ndi Okereke-Onyiuke pending the determination of her suit before the court.

Following the motion ex-parte filed and argued by her counsel, Chief Robert Clarke, SAN, the court ordered that status quo ante be maintained by the respondents pending the hearing of the motion on notice” filed by the former stock broker chief.

Brought as respondents in the suit were the Inspector General of Police, Commissioner of Police, Lagos State; Economic and Financial Crimes Commission, EFCC, and the Securities and Exchange Commission, SEC.

Okereke-Onyiuke went to court sequel to her sudden removal from office as Director-General of the Nigerian Stock Exchange and based on her anticipation that she may be quizzed  by security agencies.

Her action was brought pursuant to Order 4 Rules 3,4 (A), 4(C), (IV) and (V) of the Fundamental Human Rights (Enforcement Procedure) Rules, 2009  and under the inherent jurisdiction of the court.

Justice Obadina also ordered Okereke’s counsel to serve the originating motion on all the respondents who had five days under the Rules to file their responses.

In an 18_paragraph affidavit in support of the motion, deposed to by Okereke_Onyiuke, she averred that since January 4, 1983 she had been in the services of the Nigerian Stock Exchange as manager (researcher) adding, that she was elevated to be the director general and chief executive officer of the Stock Exchange since year 2000.

She argued that on August 4, 2010 at about 6.00 p.m, the fourth respondent (SEC) dumped a letter at her office through the Company Secretary captioned “Notice of Removal of the Director General of the Nigerian Stock Exchange.”

She averred that on the following day, the SEC utilized men of the Nigerian Police and other heavily armed law enforcement agents to prevent her from having access into her office at the Stock Exchange, adding that SEC announced her removal as DG of the Nigerian Stock Exchange to the whole world without recourse to due process.

She noted that “since the dumping of the letter referred above, series of strange faces both in mufti and uniform, strange vehicles either of the Police or EFCC had been parading my residence.”

Okereke-Onyiuke stated that she had received countless unknown calls threatening security of her life, movement, property and to arrest and detain her accordingly, adding that on Saturday, August 5, two black unregistered Highlander Toyota Jeeps paraded her street repeatedly, with their mission unknown.

She maintained that her suit, No FHC/L/CS/963/2010, challenging her removal was still pending before a Federal High Court in Lagos, adding that there were serious threat to her life, movement and properties.

The former NSE boss prayed the court to intervene and protect her fundamental human rights in the interest of justice, especially as no charges had been preferred against her before a court of competent jurisdiction.

Justice Obadina has adjourned the hearing of the motion on notice till August 19, 2010.