Tuesday, May 8, 2012

Shocking Revelations at the Capital Market Probe

 Ndi Okereke-Onyiuke; ex-DG, SEC
Arunma Oteh; DG,SEC

".............For instance, the NSE bought a yacht for N37 million and wrote down the book value within one year by recognising it in the books as a gift presented during its 2008 Long Service Award, yet there are no records of the beneficiary."- Ms. Aruma Oteh, Director-General, SEC

"........the Exchange also spent N186 million on 165 Rolex wrist watches as gifts for awardees of which only 73 were actually presented to the awardees.
The outstanding 92 Rolex watches valued at N99.5 million remain unaccounted for........."
"One of the notable fraudulent transactions include the reclassification of N1.3 billion originally expended on business travels."
Ogbele ooooooooooo!!!!!!!!!!!!!!! These people have sold us!!!!!!

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