House Of Representatives Probe Collapse Of Nigeria's Capital Market

Worried by the deteriorating state of Nigeria’s capital market, House of Representatives, yesterday, directed its Committee on Capital Market and Institutions to carry out a thorough investigation to identify the sector’s latent and manifest problems.

Yesterday’s decision of the House followed a motion by chairman of the House Committee on Capital Markets and Institutions, Herman Hembe, who lamented that the anticipated economic growth in the country would remain a mirage if the capital market remained in its comatose state.


Hembe, who brought the motion under matter of urgent national importance, noted that although the capital market was the backbone of the economy of any nation, the capital market in Nigeria had continued to witness downward slide in the last four years.

He warned that for the projected economic growth envisioned by President Goodluck Jonathan, during his budget presentation, to be realised, “it is imperative that we work assiduously to get the capital market back to its desirable heights.”

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