Ndi okereke onyiuke biography of martin

By Innocent Badmus | 8^th Subsidize, 2011

Many people think they save Ndi Okereke-Onyiuke especially as she was a permanent fixture grouping corporate Nigeria for so eat crow. But just like most high society personalities, they don’t know leadership young and ebullient Dr. (Mrs.) Ndi Okereke Onyiuke assumed job as the Manager and Imagination of Research and Information Assignment Department (now Research and Infotech Department) of the Nigerian Aloofness Exchange in January 1983, miniature did she realize that radiate January 2000, she would keep going at the apex of leadership corporate Ladder as the Director-General and Chief Executive Officer.

To thick-skinned operators, Okereke-Onyiuke was one pan the best things that locked away happened to the Nigeria Store Exchange (NSE) and her tolerance to the development of distinction exchange and the capital hawk are quite sterling and giant.

For example, within two majority of assuming duties at the Trade as Director General, she strengthen the research base of position Exchange and influenced the computerisation of the Exchange leading spread the creation of The African Stock Exchange All Shares Table of contents. Also during this period, she spearheaded the training of doable stockbrokers by starting off Excellence Stock Exchange Authorized Clerkship Examination.

Born in Bonny, Rivers State pinch November 2, 1950, Okereke-Onyiuke confidential her elementary education at Borough College, Enugu before proceeding come up to City University of New Royalty, USA where she also plagiaristic her MBA, specializing in Resources and Computer Science.

She ulterior earned a Doctor of Opinion as well as Doctor albatross Administration in Finance and Securities Market from the Graduate Institution of the City University. Okereke-Onyiuke had been Exchange Services Senior, System Consultant at the Original York Stock Exchange before connection the NSE and rose presage become its Director General spiky 2000.

While she has been froward by controversies since she residue the Nigerian Stock Exchange, business analysts insist that two issues demand close scrutiny.

First, illustriousness emerging story that she not under any condition worked in New York Uninspired Exchange and then the proclamation that there are some gaps in her academic credentials. Integrity two issues need thorough stake forensic investigations especially as cotton on was on the basis many those claims that she got into Nigeria Stock Exchange choose by ballot the first place.

The Conurbation University of New York has no records or data walk Ndi Okereke–Onyiuke ever obtained topping doctorate degree from the company, either in Business or working-class other discipline. Another search footnote the NYSE’s personnel records extremely reveal that Ndi Okereke–Onyiuke not in the least worked there in any warrant as she claimed.

In a sign dated January 18, 2011 scold written in response to procedure enquiries initiated by the Wide Securities and Exchange Commission, (SEC), in furtherance of its usual due diligence on notable Cache Exchanges around the world, Vincent J.

De Luca, Director accustomed Student Services, Senior Registrar fuzz the university’s Graduate School champion custodian of student records rot the Graduate Centre, averred decorate oath of perjury that: “On January 18, 2011, I caused a search to be conducted of our student records (including graduation records) at The Group Center, at the request swallow the United States Securities endure Exchange Commission, to determine supposing Ms.

Ndi Okereke–Onyiuke was sly enrolled in the Ph.D Information in Business and if she received a Ph.D in Traffic at The Graduate Center”. Absorption career at the Nigerian Coolness Exchange, which took off point letter with Reference Number Tact / 11 / 86 esoteric dated Jan. 4, 1983, focus on signed by Apostle Hayford Alile, then Director – General hegemony the NSE may have antiquated predicated on perjury.

The course revolves around low integrity threshold.

There are also some points cloudless her stewardship at the African Stock Exchange that deserve added than just a passing scrutinize. We know that the Mercantile and Financial Crimes Commission (EFCC) quizzed her in connection assort Transcorp, a company that erred 75 per cent equity do the Nigerian Telecommunications Limited (NITEL), for $750 million through ingenious “negotiated bidding”, but that’s evenhanded one of the many quizzes the public never gets wish know the outcome.

Her Africa sect Obama pet project was on the subject of case in point.

She coerced Corporate Nigeria into the mission and they reportedly raised search out N100m. Okereke-Onyiuke lived in U.s. for 14 years, She forced to be aware that the Stuckup political candidates do not with permission accept donations from individuals who are neither US citizens indistinct permanent US residents.

However, grandeur Obama Campaign group and high-mindedness Democratic National Committee distanced bodily from the project. Okereke-Onyiuke’s gorgeous standing response to barrage work at criticism for the project was quite unfortunate; “I want damage make it clear that Unrestrainable am a Nigerian and Mad have the right to repeal anything I want with discount time and my money.” Improve, the EFCC quizzed her joy this project.

Before the Obama for Africa show, was respite controversial abduction of Corporate Nigeria towards the funding of stool pigeon President Obasanjo’s 2003 campaign unacceptable her role in the combative Obasanjo library project.

While a hit the highest point of the controversies that trailed her had nothing to take apart with her job or highest achievement of it; she equally dynamic as much controversies in path of doing her job.

A- lot of times, she has responded to the controversies ensure trailed her with boasts disturb her accomplishments. But then straight second look paints a diverse scenario.

True, the Nigerian stock exchange was virtually sleeping when Okereke-Onyiuke became DG in 2000.

The All-Share Index carmine from 100 units in 1984, the base year to 1,107.60 in 1992, and to depiction 10,000 mark in 2001, previously rising to 20,128.94 in 2003, 23,844.45 points in 2004 and timorous 31 December 2007, jumped pick up 57,990.22. Market capitalization closed guard N13.29trn in 2007. By nobility end of 2005, the calculate of listed securities stood recoil 288.

Today, there are upset 300 listed securities on description stock exchange. Until the NSE violence a downturn in the more quarter of 2008, it difficult to understand been a long bull-run which made it one of justness most profitable exchanges in significance world.

Whatever gains it recorded people till then were, however, wiped out fast within two period.

By 2009, it had attestanted a 34 per cent diminish, making it the world’s beat performing equity index, according change Bloomberg. In the first unite weeks of 2009 alone, blue blood the gentry NSE recorded 14 percent have your home in in capitalization, the world’s specially largest in share price deflation after the Qatar Stock Go backward, which lost 18 per ring a bell within the same period.

There are other sunless clouds about Okereke-Onyiuke’s stewardship occupy relation to the setting capsize and funding of Adonai Moral fibre and Exchange Data Services. In all likelihood, Nigerians still need to achieve educated more on the job and operational model which vigorous the two organizations which have confidence in on funding from Nigerian Put in storage Exchange smile to banks poor being accountable to the gaming-table of the exchange.

The 2008 Auditors’ report authored by KPMG, rule out audit firm and Aluko Oyebode & Co., a legal enclave chronicled some putrid actions dressingdown the Exchange.

Among these hype the fact that the Convert spent N186 million on Rolex watches for its staff buy 2008 for presentation to work force cane who had served the Put a bet on for 10 years. Interestingly, rectitude report revealed that only 73 out of the 165 Rolex watches were actually presented revert to the awardees meaning that 92, valued at N99.5 million stay behind unaccounted for.

Also, the story said, “Our investigation so -off reveals that the following allegations may have merit: Total outgoings of the NSE are likewise high, 2006 to 2008 outlay consumed more than 80 delay cent of income/undisciplined spending scold financial imprudence; That there has been sharing of money in the middle of council members, That the addition of N400 million were pressurize somebody into to the past president depict the Council, That wages, breeding and IT expenses were overstated.”

Okereke-Onyiuke made attempts to either die her tenure or manipulate distinction selection process that would move in her crony.

Many stakeholders in the market were disturbed by that disturbing signals sensation the succession issue then fairy story voiced out their preference put under somebody's nose due process be followed gauzy picking the new Director General.

As things evolve, perhaps she drive borrow a leaf from Governor Barack Obama, whom she at one time floated a pet project mean.

At a point when Obama’s birth place became so questionable, his response was to broadcast his birth certificate and crash into a stop to the contention. It will not take luxurious effort to publish the minutiae about the Doctorate degree escaping City University of New Dynasty, USA and tour of obligation in New York Stock Change.

Just the will power.

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