Capital market probe not a trial session, says new panel

El-sudi-1THE newly-inaugurated Ibrahim El-Sudi-led ad-hoc committee to investigate the collapse of the Nigerian capital market has said its public hearing would not be a trial or judgment passing session but one that would adhere strictly to all parliamentary investigative principles and tenets in executing its mandate.

El-Sudi, in a statement issued in Abuja at the weekend, made it clear that the investigation was not a trial of anybody but a fact- finding exercise to unravel the causes of the woes that bedevilled the Nigerian capital market and almost brought it to its knees.

The lawmaker called on every stakeholder in the capital market to put aside all controversies and sentiments regarding the aborted investigative exercise carried out by the Herman Hembe-led House Committee on Capital Market and approach the fresh public hearing with very open and objective mind.

He stated: “Regardless of issues that led to change of guards in this exercise, we are calling on every stakeholder to the fresh hearing to come with very open mind. It is not a trial nor is it an attempt to witch-hunt or victimise anybody but to ensure that the capital market is brought back to life.”

The ad-hoc committee chairman assured that the panel would be independent in its investigation, which he said, would pay great respect to the principles of fairness, equity, justice and freedom of expression.

According to El-Sudi, the most important issue is that the House of Representatives was desirous of reviving the capital market through this investigation.

“What is important is that at the end of this investigation, the desire of the House of Representatives that the Nigerian capital market bounces back to life and even stronger to the admiration of both international and local stakeholders is realised. Indeed, we need to bring market and this is what we intend to achieve with this exercise,” it stated.

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