Blogging from New Delhi, India (will post more about this later). I have to break my no-blogging mode after reading about Okereke-Onyiuke appointment as TransCorp’s chairman.
TransCorp is a Nigerian government sponsored/facilitated mega-corporation headed by few hand-picked directors. The company became listed on the Nigerian stock Exchange (NSE) several months ago.
The last time I checked, Okereke-Onyiuke was the Director-General of the NSE, and I have every reason to believe she is still the heading the NSE. I wonder if her appointment isn’t in conflict with her role as the adminstrator of the Nigerian stock exchange. By virtue of her appointment as the NSE administrator, is it proper to have her double as a company chairman, given the recent controversies of TransCorp?
What wouldn’t make sense anywhere else would apparently make a lot of sense in Nigeria.
December 16, 2006 at 7:04 pm
Perhaps she is honest enough and strong-willed enough to rescue TransCorp, but if so it appears she will need to be replaced as Director-General of NSE. She might be able to keep both jobs as long as she recused herself from NSE decisions that affected TransCorp. I cannot imagine one person actually running both in an effective manner, however.
December 17, 2006 at 5:24 am