The lower house of the National assembly, the House of Representatives sub-committee on capital market, regulation and compliance is currently probing capital market operations in the country.
The probe is aimed at restoring investors’ confidence in the market.
As reported, the probe is following petitions on alleged sharp practices in the sector and the Tony Nwulu-led committee has invited at least 100 public liability companies to defend their operations.
The list of the 100 public liability companies invited will be made public later.
According to TheCable, ‘ the committee is requesting the corporate governance status, assets valuation and other vital information from the companies.’ This is just to ensure that they are in compliance with the extant laws.