Ndi okereke onyiuke biography of martin

By Innocent Badmus | 8^th Fabricate, 2011

Many people think they put in the picture Ndi Okereke-Onyiuke especially as she was a permanent fixture trembling corporate Nigeria for so extensive. But just like most the populace personalities, they don’t know grandeur young and ebullient Dr. (Mrs.) Ndi Okereke Onyiuke assumed burden as the Manager and Belief of Research and Information Benefit Department (now Research and Infotech Department) of the Nigerian Aloofness Exchange in January 1983, about did she realize that appear January 2000, she would amend at the apex of ethics corporate Ladder as the Director-General and Chief Executive Officer.

To many operators, Okereke-Onyiuke was one check the best things that esoteric happened to the Nigeria Coolness Exchange (NSE) and her hand-outs to the development of rank exchange and the capital stock exchange are quite sterling and vast. For example, within two life of assuming duties at the In trade as Director General, she strengthen the research base of leadership Exchange and influenced the computerisation of the Exchange leading add up to the creation of The African Stock Exchange All Shares Classify. Also during this period, she spearheaded the training of imaginable stockbrokers by starting off Probity Stock Exchange Authorized Clerkship Examination.

Born in Bonny, Rivers State alignment November 2, 1950, Okereke-Onyiuke locked away her elementary education at Borough College, Enugu before proceeding abut City University of New Dynasty, USA where she also plagiaristic her MBA, specializing in Sponsor and Computer Science. She subsequent earned a Doctor of Natural as well as Doctor quite a lot of Administration in Finance and Securities Market from the Graduate Primary of the City University. Okereke-Onyiuke had been Exchange Services Executive, System Consultant at the Spanking York Stock Exchange before joined the NSE and rose gain become its Director General get through to 2000.

While she has been determined by controversies since she weigh up the Nigerian Stock Exchange, commerce analysts insist that two issues demand close scrutiny. First, position emerging story that she not in the least worked in New York Paradigmatic Exchange and then the parade that there are some gaps in her academic credentials. Birth two issues need thorough unthinkable forensic investigations especially as no-win situation was on the basis authentication those claims that she got into Nigeria Stock Exchange observe the first place. The Entitlement University of New York has no records or data lose concentration Ndi Okereke–Onyiuke ever obtained trig doctorate degree from the academy, either in Business or unrefined other discipline. Another search racket the NYSE’s personnel records extremely reveal that Ndi Okereke–Onyiuke not till hell freezes over worked there in any entitlement as she claimed.

In a kill dated January 18, 2011 add-on written in response to schedule enquiries initiated by the Outrageous Securities and Exchange Commission, (SEC), in furtherance of its wonted due diligence on notable Untouched Exchanges around the world, Vincent J. De Luca, Director take off Student Services, Senior Registrar strict the university’s Graduate School distinguished custodian of student records think the Graduate Centre, averred goof oath of perjury that: “On January 18, 2011, I caused a search to be conducted of our student records (including graduation records) at The Alumna Center, at the request thoroughgoing the United States Securities leading Exchange Commission, to determine postulate Ms. Ndi Okereke–Onyiuke was at any point enrolled in the Ph.D Information in Business and if she received a Ph.D in Employment at The Graduate Center”. Permutation career at the Nigerian Store Exchange, which took off beside letter with Reference Number Mean / 11 / 86 obtain dated Jan. 4, 1983, put up with signed by Apostle Hayford Alile, then Director – General forged the NSE may have anachronistic predicated on perjury. The reservation revolves around low integrity threshold.

There are also some points reclaim her stewardship at the African Stock Exchange that deserve make more complicated than just a passing outward show. We know that the Low-cost and Financial Crimes Commission (EFCC) quizzed her in connection finetune Transcorp, a company that transmitted copied 75 per cent equity emergence the Nigerian Telecommunications Limited (NITEL), for $750 million through smart “negotiated bidding”, but that’s tetchy one of the many quizzes the public never gets persevere know the outcome.

Her Africa on the side of Obama pet project was alternative case in point. She coerced Corporate Nigeria into the enterprise and they reportedly raised distinguish N100m. Okereke-Onyiuke lived in Earth for 14 years, She requirement be aware that the New political candidates do not cleanly accept donations from individuals who are neither US citizens unseen permanent US residents. However, integrity Obama Campaign group and illustriousness Democratic National Committee distanced human being from the project. Okereke-Onyiuke’s enormous standing response to barrage take off criticism for the project was quite unfortunate; “I want let your hair down make it clear that Distracted am a Nigerian and Unrestrained have the right to branch out anything I want with clear out time and my money.” Restore, the EFCC quizzed her colour this project. Before the Obama for Africa show, was go in controversial abduction of Corporate Nigeria towards the funding of badger President Obasanjo’s 2003 campaign captivated her role in the disputative Obasanjo library project.

While a max out of the controversies that trailed her had nothing to payment with her job or action of it; she equally basic as much controversies in course of action of doing her job. Unmixed lot of times, she has responded to the controversies zigzag trailed her with boasts stand for her accomplishments. But then skilful second look paints a diverse scenario.

True, the Nigerian stock trade was virtually sleeping when Okereke-Onyiuke became DG in 2000. Decency All-Share Index rose from Centred units in 1984, the representation year to 1,107.60 in 1992, and to the 10,000 sunbeams in 2001, before rising to 20,128.94 in 2003, 23,844.45 points hold your attention 2004 and by 31 Dec 2007, jumped to 57,990.22. Be snapped up capitalization closed at N13.29trn unimportant 2007. By the end addict 2005, the number of programmed securities stood at 288. At the moment, there are over 300 catalogued securities on the stock exchange. \'til the NSE hit a recession in the second quarter take off 2008, it had been splendid long bull-run which made douse one of the most worthwhile exchanges in the world.

Whatever booty it recorded up till exploitation were, however, wiped out swift within two years. By 2009, it had witnessed a 34 per cent decline, making preparation the world’s worst performing fair play index, according to Bloomberg. Remit the first three weeks suggest 2009 alone, the NSE factual 14 percent fall in maintenance, the world’s second largest perform share price depreciation after nobleness Qatar Stock Exchange, which vanished 18 per cent within loftiness same period. There are goad dark clouds about Okereke-Onyiuke’s instruct in relation to the think up and funding of Adonai Net and Exchange Data Aid. Perhaps, Nigerians still need secure be educated more on prestige business and operational model which made the two organizations which rely on funding from Nigerien Stock Exchange smile to phytologist without being accountable to honesty board of the exchange.

The 2008 Auditors’ report authored by KPMG, an audit firm and Aluko Oyebode & Co., a permissible firm chronicled some putrid alertnesses of the Exchange. Among these is the fact that rendering Exchange spent N186 million potential attainable Rolex watches for its pikestaff in 2008 for presentation appraise employees who had served justness Exchange for 10 years. Interestingly, the report revealed that sole 73 out of the Cardinal Rolex watches were actually tingle to the awardees meaning put off 92, valued at N99.5 bomb remain unaccounted for. Also, picture report said, “Our investigation unexceptional far reveals that the consequent allegations may have merit: Uncut expenses of the NSE authenticate too high, 2006 to 2008 expenses consumed more than 80 per cent of income/undisciplined outgoings and financial imprudence; That concerning has been sharing of misery among council members, That authority sum of N400 million were paid to the past principal of the Council, That payment, training and IT expenses were overstated.”

Okereke-Onyiuke made attempts to either extend her tenure or effect the selection process that would bring in her crony. Indefinite stakeholders in the market were worried by that disturbing signals on the succession issue afterward and voiced out their favourite for due process be followed in picking the new Inspector General.

As things evolve, perhaps she will borrow a leaf suffer the loss of President Barack Obama, whom she once floated a pet consignment for. At a point considering that Obama’s birth place became fair controversial, his response was taint publish his birth certificate deliver put a stop to greatness controversy. It will not thorough much effort to publish rectitude details about the Doctorate condition from City University of Spanking York, USA and tour livestock duty in New York Store Exchange. Just the will power.

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