Friday, July 20, 2012 / NASS Resolution No (HR70/2012)
The El-Sudi led Ad-Hoc committee of the National Assembly set up to investigate the near collapse of the Nigerian Capital Market and make recommendations to it has submitted its report, herewith published.
Some of the recommendations have elicited reactions from the capital market community as regards completeness, coverage and context.
These recommendations contained therein were however tabled for discussion at the plenary session of the house yesterday, Thursday, July 19, 2012.
In adopting the 38 recommendations, the House, presided over by Speaker Aminu Tambuwal, stood consideration of four recommendations and instead mandated the Ad Hoc Committee to interface with the Chairman of the Committee on Banking and Currency, Hon. Jones Onyeriri, to iron out crucial grey areas before making recommendations.
The deferred recommendations bordered on the legality of the nationalised banks, the N620bn bailout of banks by CBN, and the acquisition of Intercontinental Bank by Access Bank Plc.
Source: Proshare
