President of the Senate, Senator Ahmad Lawan has urged the Securities and Exchange Commission (SEC) to ensure efficiency in the discharge of its duties in order to attract local and foreign investments to the country.
Speaking after the Senate confirmed the appointment of Lamido A. Yuguda from Gombe as Director-General of the Commission, said, “the Security and Exchange Commission must be efficient and effective in ensuring that we are able to attract and sustain not only domestic investment but foreign direct investment.
“People should bring their monies and feel safe with their investments here. This is essential to create the very enabling climate for investors to be attracted and retained here in the country.”
Also confirmed yesterday by the Senate were Reginald C. Karawusa (Imo); Ibrahim D. Boyi (Katsina); and Obisan T. Joseph (Lagos) as Commissioners full-time Commissioners of the Securities and Exchange Commission.
The nominees were confirmed after the Senate considered the report of the Senator Ibikunle Amosun, APC, Ogun Central led Committee on Capital Market.
Earlier, Amosun recommended that “the Senate confirms the Four (4) nominees as appointed by Mr. President , the Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria to the Board of the Securities and Exchange Commission, (SEC).”
In a related development, the Senate on Wednesday also confirmed the appointment of five out of the six nominees forwarded by President Muhammadu Buhari to the National Assembly for confirmation as Members of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC).
The confirmation of the nominees followed consideration and adoption of the report of the Committee on National Planning and Economic Affairs by its Chairman, Senator Olubunmi Adetumbi, APC , Ekiti North.
In his presentation on the screening of the nominees, Adetumbi said that the Committee recommended that the nomination of Barr. Emmanuel D. Nwosu, be suspended pending security investigations on the petition against his nomination as a Commissioner in the Revenue Mobilization Allocation and Fiscal Commission representing Imo State.
He advised the Executive to investigate the alleged wrongful conduct in the petition against the nominee before further action by the Committee can be taken.
The nominees confirmed by the Senate are: Salamatu Mohammed Bala (Adamawa); Hon. Alfred Egba (Bayelsa); Adamu Shettima Yuguda Dibal (Borno); Oladele Gboyega (Osun); Bello Abubakar Wamakko (Sokoto); and Ahmed Yusuf (Taraba).