Not satisfied with the treatment of the Nigerian stock market operators as sacred cows in the country's recent financial crisis, Governor of the Central Bank of Nigeria (CBN), Lamido Sanusi, Friday in Abuja called for the extension of the on-going investigation of the banking sector to the stock market

He said for a deeper result, the investigation must extend to the stock exchange, Central Bank and Securities and Exchange Commission (SEC).

Sanusi, who spoke at the African stock exchanges' conference in Abuja last Friday, said that the investigation should also include the Federal Executive Council (FEC) which comprises ministers and government aides, and political parties.

He said that corporate governance can't be effective without the issue of corruption being addressed.

Meanwhile, indications emerged last Friday that the Federal Government would soon start operating a commodities exchange.

Speaking at the African stock exchanges conference in Abuja last Friday, director general Nigerian Stock Exchange (NSE), Dr. Ndi Okereke-Onyiuke, said the proposed commodity exchange will be based either in Abuja, or the northern city of Kano. She did not however provide the exact date for the creation of the bourse.

She said African nations should also be encouraged to start commodity exchanges of their own to help develop their economies.

"We suggest that all African heads of state at their next meeting should pass a resolution to direct all African countries to establish not only stock exchanges, but also commodities exchanges to help develop African economies," she said.

The conference is looking at ways of finding "stimulus packages" to revive African stock exchanges, she said, without elaborating.