Prof. Pat Utomi, political economist and entrepreneur said on Wednesday that developments at the probe of the capital market by the House of Representatives were worrisome.
He said in an interview with newsmen in Lagos that the Federal Government should not allow issues raised to be swept under the carpet.
Utomi, the 2011 presidential candidate of the Social Democratic Mega Party, said that the probe outcome reinforced his earlier suggestion that law-making be made a part-time job.
“I have had many friends who have been chief executives or who are still serving as chief executives of parastatals and there is not one who has not said that National Assembly members have not tried to extort money from them.
“So, if you take that as a pattern you therefore give the benefit of the doubt clearly, to the director-general of SEC (Securities and Exchange Commission).
“And there is something about vision and background, they say character is like smoke, it always comes out but character is who you are.
“I have known of the SEC D-G for long time; person of sound intellect, good pedigree, fine career so far at home and abroad.
“I have difficulty believing that she deemed it necessary to bribe the National Assembly members. To what benefit?
Utomi expressed the belief that corruption in the legislature would reduce drastically if members sat on part-time basis.
“This is part of my argument about our not needing this huge legislative branch; it is at huge cost to Nigeria; it’s an introduction of a lot corruption of into Nigeria.
“We need a part-time assembly of serious professional people. You are a lawyer; you are a farmer; you are doing your business; you come together for a couple of hours or couple of days; pass some laws very quickly and go back to the business that you do.”