The Disciplinary Committee of the National Council of the Nigerian Stock Exchange has summoned Mr. Victor Ogiemwonyi, Mr. Mathew Ojo, Mr. Alex Adeusi, Mr. Fisayo Jassey-Jabarr and Partnership Securities Limited, a dealing member of the NSE, to appear before it to answer for allegations of fraud.

The appearance of the aforementioned persons is scheduled for November 14 at the NSE building in Lagos, according to a document obtained by our correspondent on Tuesday.

The Exchange said the summons was for the purpose of hearing a complaint by Mr. Arnold Ekpe against Partnership Securities Limited and Ogiemwonyi for misappropriation of proceeds of shares; and complaint against Ojo, Adeusi and Jassey-Jabarr regarding their actions, which allegedly assisted/facilitated Partnership Securities and Ogiemwonyi to misappropriate the proceeds of the sale of Ekpe’s shares.

According to the NSE, there will be a hearing on the life ban of Ogiemwonyi and the cancellation of the certificate of registration of Partnership Securities Limited by the Securities and Exchange Commission; and the suspension of Adeusi for a period of five years from engaging in any capital market activities in the Nigerian capital market by SEC.

The document signed by the council’s secretary, Mojisola Adeola, read in part, “At the hearing, Mr. Victor Ogiemwonyi, Mr. Mathew Sunday Ojo, Mr. Alex Adeusi, and Mr. Fisayo Ibrahim Jassey-Jabarr, and Partnership Securities Limited will be required to give reasons why disciplinary action should not be taken against them.

“Any documents they wish to rely upon during the hearing should be provided to the Nigerian Stock Exchange by noon on Tuesday, November 7, 2017.

“Kindly note that the chief executive officer or any director and/or official of Partnership Securities Limited may attend this hearing. Note further that in the event of a failure to honour this invitation, the committee shall proceed with the hearing and make such decisions and issue such directives as it deems fit.”