5 July 2012

Nigeria: Tambuwal's Absence Delays Capital Market Probe Report

Absence of some key Principal Officers of the House of Representatives from Nigeria is responsible for the delay in the official submission of the report of the House ad hoc committee investigation into the "near collapse" of the capital market, House spokesman Zakari Mohammed, has said.

The House had last week promised that the report would be presented to the House in plenary this week but Mohammed informed newsmen yesterday that the presentation could not be done because it cannot be presented unless the body of principal officers are briefed on it.

Speaker Tambuwal is attending a weeklong meeting of the Commonwealth Parliament in South Africa and his deputy Emeka Ihedioha has been presiding over plenary sittings of the House since.

Last Thursday, committee chairman Rep. Ibrahim Tukur El-Sudi (PDP, Taraba) displayed the copy of the report to journalists, saying that the report was ready for presentation but for refusal of the Central Bank of Nigeria (CBN), Assets Management Corporation of Nigeria (AMCON) and the Securities and Exchange Commission (SEC) to submit some vital documents and information regarding the forensic audit of some commercial banks, the nationalisation of the banks as well as Project 50 celebration.

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