An Appeal Court sitting in Lagos yesterday dismissed the appeal filed by the Nigeria Security and Exchange Commission (SEC) against the ruling of Justice Mohammed Idris.
The ruling had nullified the removal of Ndidi Okereke-Onyiuke as the Director General of SEC, even as the court ordered the Commission to pay the former DG the sum of N500 million.
The lower court had in its judgment also declared the removal as irrational and hasty, adding that the removal did not complied with the precedents.
But in its notice of appeal, SEC maintained that Okereke-Onyiuke’s sack was in line with the statutory powers to protect the Nigerian Stock Exchange (NSE), the interest of the public and the Nigerian economy, and urged the court to set aside the judgment.
She had said that she was done with the NSE, having tendered her resignation letter before her sack, adding that she harbours no grudge against her former employer.
She added that she was neither seeking to be reinstated nor did she intend to disrupt the on-going efforts by the interim management to reorganise and restructure the stock market.
Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.
Write a comment