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‘Replacement of SEC’s acting DG unfair, continued marginalisation of South’


Representative of Etinan/Nsit Ibom/Nsit Ubium Federal Constituency and Chairman, House of Representatives Committee on Judiciary, Onofiok Luke, has faulted President Muhammadu Buhari’s proposal for the replacement of Acting Director-General of the Security and Exchange Commission (SEC), Mary Uduk.

In a statement by his Press Secretary, Aniekan Udofia in Uyo yesterday, Luke, who is former Speaker of the Akwa Ibom State House of Assembly, said that in the spirit of federal character and merit, Uduk should have been confirmed as substantive DG of the SEC two years after her appointment rather than being replaced.

However, he acknowledged that although it was the President’s prerogative decision to drop, appoint or replace Federal Government officials, he noted that such appointment(s) must be seen to be fair and just and in compliance with the federal character principle.


He, therefore, insisted that Uduk’s replacement as substantive DG of the commission was unfair, unjust and contrary to the principle of federal character, adding that Uduk’s record in restoring investors’ confidence in the nation’s capital market would have been a strong reason she should have been confirmed as substantive DG of the commission.

“Replacing her at a time of global economic instability was unnecessary, especially when her experience and competence in the market would have served the nation’s best interest.

“Federal Government’s proposal should worry every patriotic and detribalised Nigerians that the replacement of Uduk signals continued marginalisation of some sections of the country, especially the South-South and South-East,” he said.

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