By Kauthar Anumba-Khaleel, Abuja
The House of Representatives yesterday urged President Muhammadu Buhari to constitute a board for the Security Exchange Commission (SEC) as soon as possible.
This as it also called for the appointment of Executive Commissioners to fill the vacant position in the commission.
The resolution was contained in a motion calling for Reconstitution of the Board of Security and Exchange Commission and Appoint Executive Commissioners”, sponsored by Hon. Tajudeen Yusuf.
Leading the debate, Tajudeen said the absence of a board for two year has negatively impacted on the commission saying, the current situation has slowed down the general operations and hindered its duties as regulator of the Capital Market.
“The non-constitution of the board for two years now is posing both regulatory and reputational challenges to SEC, creating delays in approvals from the supervising ministry of Finance, causing non-formalisation of broad economic, financial, operational and administrative guidelines and targets of the commission.
“The absence of Executive Commissioners, who are saddled with responsibilities to assist the Director-General in the day to day management and administration of the commission has increased the workload of the Director-General and this has slowed down certain operations which require promptness”, Yusuf said.
It would be recall that the Federal Government dissolved the commission’s board on 16 July 2015.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from LEADERSHIP Nigeria Newspapers. Contact: firstname.lastname@example.org
- COVER STORIES6 hours ago
INEC Rolls Out Voting Pattern For 2019 Polls
- AGRICULTURE19 hours ago
FG, Ban Maize Importation- Farmers
- NEWS6 hours ago
Alleged Fraud: Court Orders Service On Oshiomhole, EFCC
- NEWS22 hours ago
Bauchi: APC Wins Toro Federal Constituency By-election
- CRIME5 hours ago
Gunmen Kidnap 45, Kill One In Zamfara
- NEWS20 hours ago
Fire Destroys 77 Shops In Kano Market
- SPORTS19 hours ago
Gov Okowa Receives Super Eagles On First Int’l Flight To Asaba
- NEWS5 hours ago
Kwara PDP Rejects Rep By-election Results