29 June 2012

Nigeria: CBN, SEC Delaying Capital Market Report - El-Sudi

Refusal of the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC) and the Assets Management Corporation of Nigeria (AMCON) to avail the House of Representatives adhoc committee investigating the near collapse of the Nigerian Capital Market with some vital documents is responsible for the delay in submission of the report, Committee Chair Rep. Ibrahim Tukur El-Sudi (PDP, Taraba) has said.

Speaking to newsmen in Abuja, El-Sudi said they had written to the three agencies to make available the documents and forensic reports on the nationalisation of some banks but that the CBN has refused to provide the documents.

He threatened to evoke relevant provisions of the 1999 Constitution and the Legislative Houses powers charge CBN Governor Sanusi Lamido Sanusi for contempt of parliament.

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