Crisis In Onitsha Electronics Market, Chairman, Secretary Bicker

Crisis is brewing at the Onitsha International Electronics Market (OIEM) resulting in the reported suspension of the secretary of the market, Comrade Damian Ogudike. According to the secretary, his suspension was as result of his refusal to endorse plans by the chairman, Mr. Izu Okoye, to change the market’s constitution in his [chairman’s] favour.

Ogudike said that “he (chairman) wants to change the constitution to become the chairman of board of trustees, (BoT) so that, after his tenure, whenever there is vacuum, he will continue in office as chairman pending when an election will be conducted. I said ‘no’ to that and said that he should consult the entire traders to air their view on that issue, and not impose it on the traders through amendment of the constitution. He suspended me and threatened to kill the chief provost general, Chief Ifechukwu Emmanuel Anozie, for supporting me.


He also suspended me for demanding due process in the allocation of shops to prospective buyers and accused me of fraudulently embezzling the proceeds of the shops allocated. However, he was the one that brought the buyers and told them to meet me, claiming that we worked together and that it was just all for formalities. I, however, insisted on due process and that did not go down well with him as he was interested in collecting the money without due process.”

“Because I refused, he brought the assistant secretary and worked with him, accusing me of using a platform, Abia Parliament Forum, to endanger the market.

The truth is that when we wanted to open an account for the OIEM, the bank account officer said that, as a corporate market, we should have an electronic mail (e-mail) address. The chairman said he did not have one and asked me to use my own, which is Abia Parliament Forum. Even when I told him that we had to use that of the traders, he said it did not matter and insisted I should use mine. So, mine was used.”

The secretary also accused the chairman of making a withdrawal without the knowledge of the other signatories to the account, and alleged that he had also placed other executive committee members under close watch with a view to suspending them “if they opened up on his fraudulent activities.”



Contacted, the chairman, Izu Okoye, denied all the allegations levelled against him by the secretary and described them as figments of his [secretary’s] own imagination and a plot to incite the traders against him (chairman) with the intention of causing chaos in the market.

According to the chairman, “he is only diverting attention because what he did is criminal. Exposing the in-flows and out-flows of the market [bank account] to Abia Parliament Forum, coupled with his conspiracy to siphon the sum of N21million stallage fees. These are the reasons he was called upon by the executives/screening committee to answer questions with respect to the alleged issues and he has not come to answer them [on those issues] up till now and they suspended him.

Also, on the alleged change of constitution, it is false. We raised the issue of constitution amendment in the executive but did not go further on it.

On the issue of stallage fees, he collected about N21million and because the buyers were worried over non-allocation after payment to him, we waded in and he started paying them back N300, 000 each until he pays them off,” the chairman said.

On the allegation that he threatened to kill the chief provost general for opposing the change of constitution and his alleged fraudulent role in the stallage financial scam, Okoye said that “the chief provost feels (that), because he is an executive member, he stays in the market up to 8 pm and I said ‘no’ and asked him to leave the market.”

He is running away from 12 people he is owing and the police is looking for him.”

Contacted, the chief provost corroborated the position of the secretary adding that “the chairman said he will kill me for opposing him on change of constitution and the role he played in the stallage financial scam.”

#orientdailynews