Five top officials of the Nigerian Stock Exchange allegedly shared N1.13bn productivity allowance between 2006 and 2008, findings by forensic auditors appointed by the Securities and Exchange Commission to audit the accounts of the Exchange have revealed.
A copy of the auditors’ report, obtained by our correspondents on Monday, alleged that the immediate past Director-General, NSE, Prof. Ndi Okereke-Onyiuke, was paid N592.55m in the three years, representing 52 per cent of the total amount shared.
The former DG was alleged to have collected N58.10m, N334.45m and N200m in 2006, 2007 and 2008, respectively, the report, prepared by KPMG and Aluko Oyebode and Co, said.
It added that a former Assistant Director-General of the Exchange, Alhaji Musa Elakama, was given N309m in the three-year period, amounting to 27 per cent of the total surplus shared.
According to the auditors, a former General Manager, NSE, Mrs. Yinka Idowu, allegedly got a total of N103.22m under the payment, categorised as ”Total Productivity/Surplus Sharing Paid to Management,” between 2006 and 2008.
Another former General Manager of the Exchange, Mr. Henry Onyekuru, was said to have been paid N108.6m, while the Secretary to the Council, Mrs. Josephine Igbinosun, allegedly got N21m in the review period. Staff members were also paid N1.2bn and N720m in 2007 and 2009, respectively, the report said.
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