November 30, 2022

Global News

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AFTERMATH OF PH.D SAGA FORMER NSE DG, OKEREKE ONYIUKE GOES UNDERGROUND!

3 min read

Ndidi Okereke-Onyuike

Ndidi Okereke-Onyuike
Ndidi Okereke-Onyuike
Few years back Golobal News carried a story on the duo of the DG of the Securities and Exchange Commission, Ms. Aruma Oteh and the former DG of the Nigerian Stock Exchange, Professor Ndi Okereke Onyiuke where they were involved in hot exchange of words over their educational qualifications. The war of words involving them took a different dimension as they both resorted to calling each other names back then.

Later, at the House of Representatives public hearing on the collapse of the stock market, the duo allegedly washed their dirty linens in public. Aruma Oteh fired the first salvo when she stated that the former council led by Okereke-Onyuike embarked on wasteful expenditures.

She was quoted to have said that “For instance, the NSE bought a yacht for N37 million and wrote down the book value within one year by recognizing it in the books as a gift presented during its 2008 Long Service Award (LSA), yet there are no records of the beneficiary.

“The Exchange also spent N186 million on 165 Rolex wristwatches as gifts for awardees out of which only 73 were actually presented to the awardees. The outstanding 92 Rolex watches valued at N99.5 million remain unaccounted for.
This happened in previous years.”

But in her own reaction, Okereke-Onyuike said she is no longer in possession of documents needed to exonerate herself from the scandal. She said that she couldn’t present any document to the committee in respect of the allegation made by the SEC director-general, Ms Aruma Oteh on May 7, adding that this was because her office was raided and vital documents carted away by security men on the instruction of Oteh.

The former NSE boss rather said, “There may be some documents you may ask from me which I don’t have, but if you ask the chief executive of the NSE, Mr Oscar Onyema, can bring them to you.” Ndi Okereke-Onyiuke said further that Aruma Oteh was not adequately qualified to head the commission.

She stated that “by the rules, the DG of SEC must have 16 years cognate experience and must be a member of the Stock Exchange so that you will be able to know what you are doing. Okereke-Onyuike also said if the SEC DG boasts of graduating with a first class in UNN and top of her class in Harvard, she is a professor and a teacher in both institutions. “I am a proper professor. It is not an award. You are bragging that you studied in Harvard. You went there to learn, I teach there. If you had first class at UNN, I teach there also,” she said. In her reaction, Oteh said she never claimed what she is not unlike someone whose authenticity of her doctorate degree is in serious contention referring to Okereke-Onyuike who is alleged not to officially hold the title.

It would be recalled that City University of New York recently claimed that Okereke-Onyuike never obtained a doctorate degree from the institution, either in business or any other discipline. In a letter dated January 18, 2011, and written in response to routine initiated by the US Securities and Exchange Commission in further of its regular due diligence on notable Stock Exchanges around the world, Vincent J. De Lucas, director of student services, senior registrar at the university’s graduate school and custodian of students records at the Graduate Centre, averred under oath of perjury that:

“On January 18, 2011, I caused a search to be conducted of our students (including graduation records) at the Graduate Centre at the request of the United States Securities and Exchange Commission, to determine if Ms Ndi Okereke-Onyuike was ever enrolled in business and if she received a PhD in business at the Graduate Centre. “A thorough search of our electronics and paper files for the names, Ndi Leche Okereke, Ndi Okereke-Onyuike and Ndi Lechi Okereke-Onyuike was conducted. No record was found that Ms Ndi Okereke-Onyuike ever enrolled in the PhD programme in business or received a PhD in business at the Graduate Centre.”

However, the situation now is that the bulky madam Okereke Onyiuke has gone underground and is nowhere to be seen on the social radar. She has since stopped attending parties and events even when she is invited. The reason for this is still secretive but Global News belief that the accusation of Oteh may have dented her image and forced her to withdraw into her shell.

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2 min read

UBA Foundation Rings in The Yuletide Season, Lights Up the Lagos Marina Africa’s Global bank, United Bank for Africa, through its Corporate Social Responsibility Arm, the UBA Foundation, on Tuesday, held its annual Christmas Lighting ceremony to mark the start of the festive season. The brilliant Christmas Lights of the UBA Foundation Gardens at the UBA Head Office on the Marina in Lagos, were activated by the bank’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, in a grand ceremony which was witnessed by key management staff and some customers of the bank. Alawuba, who addressed attendees at the ceremony, reiterated that the annual Lighting event is a symbol of hope for the coming year, the future and all the goodness it will bring into people’s lives. Alawuba said, “The UBA Foundation is focused on touching lives and giving back to its host communities. UBA through its foundation, the UBA Foundation desire remains is committed to improving lives in whatever way we can. We want to give back always and this event is quite symbolic as it represents the affinity we have towards our customers, employees and associates as well as our communities.” The CEO of the UBA Foundation, Mrs Bola Atta, said that the Christmas lighting ceremony was important for the Foundation adding: “Today is significant. All over the world, it is known in the advent period as Giving Tuesday. It is a time to give back to those who don’t have enough. It is a time to shine light on others, to give hope and give gifts. Today we gave out a lot of gifts and people were happy as we lit up the Foundation gardens to symbolise joy and hope. We are constantly reminded as an institution, of our promise to continue to touch lives and show kindness. In these difficult times, sharing even a little bit, goes a long way.” The lighting ceremony was attended by UBA staff members and customers who were serenaded with Christmas carols by the UBA Customer Fulfilment Centre’s choir. It ended with a guided tour around the UBA Foundation gardens on the Lagos Marina. Over the years, the UBA Foundation has been very active in creating sustainable development in its host communities and as part of its corporate social responsibility, the Foundation will be feeding tens of thousands of people across Africa during this festive season. UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

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