Nigeria Content Online

A Federal High
Court in Lagos on Monday adjourned till December 21 further hearing in
the case filed by a former Director-General of the Nigerian Stock
Exchange (NSE), Ndi Okereke-Onyuike.

Mrs. Okereke-Onyuike is challenging her removal as NSE Director-General by the Securities and Exchange Commission (SEC).

She wants the court to void her sack and to declare that SEC lacked the authority to terminate her appointment.

The former NSE boss
equally wants an order of perpetual injunction restraining SEC and its
agents from implementing the letter announcing her removal from office.
She is also seeking N3 billion as compensation.

Mrs.
Okereke-Onyiuke contended that her removal from office was part of an
elaborate design orchestrated by SEC to humiliate her.

She said that SEC
failed to avail her the opportunity to react to allegations levelled
against her before announcing her removal on August 4.

At the resumed
hearing on the matter on Monday, Yemi Osibanjo announced his appearance
for NSE on the grounds that his client was interested in the case.

“We have filed an
application before the court asking to be joined as defendant in the
matter,” he said. He contended that the NSE was a necessary party to
the suit because the outcome of the suit would likely affect its legal
interest, internal policy and organisation.

Counsel to
Okereke-Onyuike, Dapo Olanipekun, however, asked the court for an
adjournment to enable him to file his response to NSE’s application.