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December 1, 2017

THE GUARDIAN NG

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Reps quiz CBN, PenCom, DMO over alleged capital market breaches

Central Bank of NigeriaBegin amendment of investment and securities act
Following alleged breaches in the nation’s capital market, the House of Representatives Committee on Capital Market and Institutions yesterday, quizzed the Central Bank of Nigeria (CBN), Pensions Commission (PenCom) and Debt Management Office (DMO) to determine their efforts in the protection of shareholders’ investments.
Chairman of the House committee, Tajudeen Yusuf, said the exercise was in response to complaints of irregularities and reports indicating that “whilst some of the companies took advantage of investors naivety, others were involved in outright sleeze and scam. “
At the opening of a two-day hearing of the committee on bonds, securities and private placements between 2001 and 2016 and Bill for an Act to amend the Investments and Securities Act, 2007, Yusuf requested officials of the invited organizations to synergize towards restoring investors’ confidence in the capital market.

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December 1, 2017

THE GUARDIAN NG

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