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Lawan tasks SEC on efficiency, investment drive


Senate President Ahmad Lawan

Senate confirms five RMAFC nominees, withholds one

For Nigeria to attract local and foreign investments, the Securities and Exchange Commission (SEC) must ensure efficiency in the discharge of its duties, Senate President Ahmad Lawan has said

He gave the charge yesterday after the upper legislative chamber confirmed Lamido Yuguda as the commission’s chief executive.


The lawmakers also affirmed Reginald C. Karawusa (Imo); Ibrahim D. Boyi (Katsina) and Obisan T. Joseph (Lagos) as commissioners.

Lawan noted: “The Security and Exchange Commission must be efficient and effective in ensuring that we are able to attract and sustain not only domestic investments but also foreign ones.

“People should bring their money and feel safe with their investments here. This is essential to create a very enabling climate for investors to be attracted and retained here in the country.”

The approvals followed the submission of the report of the Committee on Capital Market chaired by Senator Ibikunle Amosun (APC – Ogun Central) at plenary.


But before the question was put on the nominations, Albert Bassey Akpan, the senator representing Akwa Ibom North-East, had reminded his colleagues of a petition the caucus filed against Yuguda.

The Akwa Ibom legislators had wanted Mary Uduk, acting SEC Director-General, to be confirmed.

Besides, the Red Chamber yesterday sealed the appointment of five of the six nominees forwarded by President Muhammadu Buhari as members of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC).

Chairman of the committee, Senator Olubunmi Adetumbi (APC – Ekiti North), said his panel recommended that the nomination of Emmanuel D. Nwosu be suspended pending security clearance following a complaint against him.


He advised the executive to investigate the bad conduct allegation hanging on the neck of the Imo indigene before further legislative action.

Those who got the green light of the parliamentarians are Salamatu Mohammed Bala (Adamawa); Alfred Egba (Bayelsa); Adamu Shettima Yuguda Dibal (Borno); Oladele Gboyega (Osun); Bello Abubakar Wamakko (Sokoto) and Ahmed Yusuf (Taraba).

Also yesterday, the senators took concrete steps towards protecting rape victims against stigmatisation.

The move followed the consideration of the “Rape and Insurgency of Victims Stigmatisation (Prohibition) Bill 2019 sponsored by Senator Mohammed Sani Musa (Niger East).


The document moves to provide the legal and institutional framework for the re-integration of victims of rape and insurgency in the country.

It raised concern that Nigeria with over 200 million people had no legislation that protects or facilitates care and support for survivors of sexual assaults.

The bill, which received the support of lawmakers, was referred by Lawan to the Senator Opeyemi Bamidele-led Committee on Judiciary, Human Rights and Legal Matters for further legislative work. They are to turn in their report in four weeks.


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Ahmad LawanAPCSEC
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