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.