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Minister Appoints New SEC DG After Trading Confusion



Nigeria’s Minister of Finance,Kemi Adeosun, has today appointed  Mary Uduk as the new acting Director General of the Nigeria Securities and Exchange Commission (SEC).

Uduk will now be replacing former DG Abdul Zubai who has been redeployed to the external relations department of the ministry of finance.

Zubai was replaced two days after there was confusion between SEC and the Nigerian Stock Exchange (NSE) over the shares of Oando Plc.

The NSE had lifted a temporary ban on the trading of Oando’s shares and suspended it again after three hours of trading.

The agency also later reversed its action, claiming that it acted upon a directive from SEC.


More to follow…

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