Business
Capital Market Panel Resumes Hearing, April 10
The House of Representatives’ Ad-hoc Committee investigating the collapse of the Nigerian Capital Market has fixed April 10 for a fresh public hearing on the capital market.
Rep. Ibrahim El-sudi (PDP-Taraba), Chairman of the committee, stated this while addressing newsmen in Abuja on Tuesday .
He said that the committee would source for its own facts irrespective of whatever facts must have been submitted to the Herman Hembe-led House Committee on Capital Market.
El-sudi said the committee would ask all stakeholders to submit fresh memoranda to enable the committee commence the investigation in earnest.
It would be recalled that the House on March 20, constituted an eight-member ad hoc committee to continue with the public hearing on the near collapse of the capital market.
The committee chairman, Rep. Herman Hembe and his members stepped down after an allegation of bribery was leveled against them by the Director-General of SEC, Ms Arunma Oteh.
El-sudi said the delay in the commencement of the public hearing arose from the fact that many stakeholders might not be available during the Easter break.
He called on every stakeholder in the Capital Market to put aside all controversies and sentiments regarding the aborted investigative exercise carried out by the Herman Hembe-led House Committee on Capital Market.
“Regardless of issues that led to change of guards in this exercise, we are calling on every stakeholder to the fresh hearing to come with very open mind.
“ It is not a trial nor is it an attempt to witch-hunt or victimise anybody but to ensure that the Capital Market is brought back to life,” he said.
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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