SEC debunks rumoured resignation of Acting DG

June 15, 2020
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The Securities and Exchange Commission (SEC) has reacted to the purported resignation of the Acting Director-General, Ms. Mary Uduk that was reported in the media.

This was disclosed in a circular that was released to the members of the public by the commission on Sunday, June 14, 2020.

The capital market regulator denied the resignation of the Acting Director-General while also stating that she is still performing her duties and has not handed over to anyone. In the circular, SEC also refuted claims of plans to organize a sendforth for Uduk, on Monday June 15, 2020.

According to the circular, the capital market regulator said, ‘’The Securities and Exchange Commission’s (the Commission) attention has been drawn to a publication in the media on Sunday, June 14, 2020, wherein the Acting Director-General, Ms. Mary Uduk is purported to have resigned from the Commission and a send forth party slated for Monday, June 15, 2020.’’

‘’The Commission wishes to inform the general public that the Acting Director-General of the SEC, has not resigned her appointment with the Commission, neither has she handed over to anyone.’’

‘’Also, the Commission hereby states that no send forth party is being planned for Ms. Uduk.’’

The commission stated that Ms Uduk just like every other staff of the Commission is waiting for the resumption of the new DG who was recently cleared by the senate.

It can be recalled that on May 19, 2020, President Muhammed Buhari, sent the name of Lamido Yuguda, a former Director at CBN, to the senate, as the new and substantive Director-General of SEC.

This brought to an end, the vacuum that was created following the controversial sack of the former DG, Mounir Gwarzo, by the then Minister for Finance, Kemi Adeosun, over financial misconduct and violation of public service rules.

The senate just like last week confirmed the appointment of the new DG with 3 other executive commissioners.

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