Despite Market Crash! Ndi Okereke-Onyuike Led Selected CEOs to Witness Obama’s Inauguration

Ndi (second from left) during her campaign for Obama presidency

Ndi (second from left) during her campaign for Obama presidency

On 12 January, 2009, the Director-General of the Nigerian Stock Exchange, Prof. Ndi Okereke-Onyiuke, had addressed a press conference where she expressed her frustration with how influential forces in government encumbered her efforts to get the Federal Government to intervene directly to save the fast dwindling fortunes of the Nigerian stock market.

Though the ‘Professor of Capital Market Studies,’ had, in the words of capital market experts, glibly talked of the hope of rejuvenating the stock market, but it seems what was uppermost in the consideration of the Nigerian Stock Exchange DG was the inauguration of Barrack Obama as the 44th President of the United States of America.

Prof. Okereke-Onyuike had, while Obama was campaigning for the office of the US presidency, run into a storm of scandal, when she reportedly invited corporate bodies in the country to pay sums ranging from N275,000 to N2.5 million for an Africa for Obama fund raising dinner for the Obama campaign.

The fund raising dinner was mired in controversy especially after it was made public that the US constitution frowns at funds raised by non-citizens of the United States of America. The uproar attending this became more aggravated when a representative of the Obama campaign wrote to condemn the fund raising effort; this is even as critics of the fund raising dinner in Nigeria had condemned the dinner as an arm twisting venture by the occupier of the high office of a regulatory authority to force the entities within her purview of control to donate money to a cause which relevance, they claimed, holds no significance for the people being made to pay for the fund raising dinner.

The public outcry that attended the fund raising dinner compelled the Economic and Financial Crime Commission to step into the affair and invited the NSE’s DG for questioning. At the end of the EFCC’s investigations, it was decided that the money so raised be refunded to those that paid for the dinner.

However, despite the apparent frustration of her efforts at supporting the Obama’s campaign, latest report indicates that the NSE’s DG had, top on her thoughts, the Obama campaign and the inauguration. Reports have it that soon after addressing the media this past Monday, 12 January, 2009, the Stock Exchange DG led some chief executives of listed companies on the Stock Exchange to the United States to witness Obama inauguration as the President of the United States of America.

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