CAPITAL MARKET PROBE SCANDAL

by Sunny
(Abuja, Nigeria)

The chairman of the House committee on capital market, Hon Herman Hembe has stepped down and the committee relieved of the probe duties following allegations by the DG SEC that she was being victimized because she refused to offer a bribe of N39 million to the Chairman of the probe committee.

Hon Hembe while stepping down denied the allegation of soliciting for any financial gratification but said instead that it was the DG of SEC, Ms Oteh that tried to induce him with a bribe of N30 million.

The House of rep has set up an Ad hoc committee to complete the probe within 21 days, and also asked the house committee on ethics to investigate the allegation against Hon Hembe.

The Security and Exchange commission in a release yesterday denied that the commission tried to induce to committee.