Following his confirmation as the new Director General of the Securities and Exchange Commission (SEC), the Senate yesterday charged the new DG, Lamido Yakubu, and the newly appointed commissioners to ensure efficiency in the discharge of their duties in order to attract local and foreign investments into the country.
The Senate President, Ahmed Lawan, gave the charge yesterday in his remarks after the upper chamber confirmed the appointment of Yuguda as Director General of the Commission while Reginald Karawusa; Ibrahim Boyi, and Obisan Joseph were also confirmed as full time commissioners.
The confirmation of the nominees was sequel to the ratification of the report of the Committee on Capital Market which 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).”
Speaking after the nominees were confirmed, the Senate President 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”, the lawmaker added. In a related development, the Senate 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. Reacting to the confirmation of Yuguda and the commissioners, an investment analyst, Emmanuel Oluwasola, described the lawmakers’ prompt consideration of the nominees as a welcomed development, urging the new appointees “to immediate begin to consolidate on the former Acting DG’s achievements, particularly by initiating measures to attract foreign direct investors to the economy.”
