Nigeria reinstates head of stock market regulator
ABUJA, Nigeria (AP) — Nigeria has reinstated the head of the regulator of Africa's second-largest stock market who had been under investigation over a fund mismanagement allegation.
The secretary to the Nigerian government, Anyim Pius Anyim, said in a statement obtained by The Associated Press on Thursday that the director general of the Securities and Exchange Commission, Arunma Oteh, had been recalled from "compulsory leave."
The commission's board of directors asked Oteh to step down a month ago while independent auditors investigated the source and spending of funds for a commission event held last year.
Anyim's letter signed Tuesday said their report had not "indicted her of fraud or any criminal breach." However, some "administrative procedures were not thoroughly observed."
The suspension had threatened the reputation of Oteh, widely seen as a reformist.
