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Why We Intervened In Finance Minister, DG SEC Conflict – Dogara
By Our Correspondent
Speaker of the House of Representatives, Hon Yakubu Dogara, has explained that the House decided to intervene in the conflict between the minister of Finance and the suspended director general of Security and Exchange Commission in order to protect the capital market’s integrity, improve public perception of the sub-sector, boost investors confidence, build trust and encourage primary investment.
He also added that the House of Representatives is determined to unravel what led to the conflict, with a view to resolving and finding reasonable solutions geared towards achieving positive impact on the Capital Market and national economy.
Speaking at a public hearing organised by the committee on Capital Market at the National Assembly, the Speaker said it is important to provide a conducive environment for the capital market to contribute massively to the nation’s economic growth and development now that there has been a downside in Nigeria’s economy.
He also noted the importance of integrity and perception to the growth of Capital Market and the economy, saying no investor will be interested in putting funds in a Market that is fraught with instability, confusion, crisis and bickering, no matter how well the package may look.
He said, “The House of Representatives, and indeed the National Assembly have been pro-active on various fronts, in meeting and realising legislative actions geared towards boosting the Capital Market and Nigerian economy.
As a Legislature, we are not unmindful of the importance of perception in the Capital Market. Similarly, integrity is very paramount to the growth of Capital Market and the economy. Regardless of the juicy package put together by stakeholders, however, no investor will be interested in putting funds in a Market that is fraught with instability, confusion, crisis and bickering.
“It is as a result of these and our firm commitment to protect market integrity, improve public perception of the sub-sector, boost investors confidence, build trust and encourage primary investment in the Capital Market that the House of Representatives resolved to intervene in this matter.
“As a Parliament, we strongly believe that the downslide in Nigeria’s economy provides the best opportunity for the Capital Market to fill this gap by taking the lead in contributing massively to economic growth and development.
“However, this lofty ideals and objectives cannot be realised in an atmosphere of strife, discord, mistrust and disconnect between and amongst key functionaries of the Capital Market and national economy.”
He reiterated that the House of Representatives is determined to always support operators, stakeholders and regulators in achieving their respective goals and objectives in order to help them contribute positively to driving Nigeria’s economy .
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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I am writing to felicitate with Your Excellency, Atku Abubakar, GCON, former Vice-President of Nigeria (Zege Mule u Tiv & Wazirin Adamawa)
on the occasion of your 79th birthday anniversary.
I join your teeming admirers globally in celebrating you on this special day, an adorable Statesman and my Boss.
I recall with nostalgia, how countless generations have benefited from your generosity, wealth of experience and benevolence including being my key benefactor even as a young lawyer for my professional success.
Your Excellency, may your special day be filled with grandeur befitting your illustrious career.
I wish you continued success, prosperity, and an unending stream of accolades.
It takes a remarkable kind of fortitude to remain active in public life well into one’s golden years. Your dedication and patriotism remain truly exceptional.
May you enjoy a day of reflection on your many years of fruitful service to humanity. It is my prayer that God Almighty grants you many more healthy, fruitful, and fulfilling years ahead, and continues to endow you with wisdom, strength, and the grace to keep contributing to our nation-building.
Happy Birthday, Your Excellency.
Michael Kaase Aondoakaa SAN.
Former Attorney General of the Federation and Minister of Justice
TAU reaffirms commitment to globally competitive learning
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