Akwa-Ibom senators make U-turn on Yuguda’s nomination as SEC DG

Senators Bassey Akpan, Christopher Ekpenyong and Akon Eyakenyi representing Akwa-Ibom North East, North West and South in the National Assembly, have withdrawn a petition challenging President Muhammadu Buhari’s nomination of Mr. Lamido Yuguda as the Director General of Securities and Exchange Commission, SEC.

The People’s Democratic Party, PDP lawmakers had challenged Yuguda’s nomination on grounds that the President refused to nominate Mary Uduk from Akwa-Ibom State, who was already serving as Acting Director-General at the commission.

In a report of the Senate Committee on Ethics, Privileges and Public Petitions, the lawmakers had sought the intervention of the upper legislative chamber to ensure that the people of Akwa-Ibom State were not further marginalized in matters of federal appointments.

Chairman of the committee, Senator Ayo Akinyelure explained in his explanation that the three senators, found it “disheartening that Mary Uduk who was eminently qualified to be appointed DG, SEC, having represented Nigeria at the regional and international bodies such as the West African Capital Market Integration Council (WACMIC) and currently on the board of the International Organization of the Securities Commission (IOSCO), the international standards setter for securities regulation, was neither listed as DH nor as a full-time Commissioner.”

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He, however, said following a move by the committee to investigate the concerns raised by the lawmakers in the petition to the Senate, the Petitioners and Respondents met and resolved the matter.

According to Akinyelure, the resolution between both parties, subsequently led to the withdrawal of the petition by the three lawmakers from Akwa-Ibom State led by Senator Albert Bassey Akpan.

In his contribution, Senator Sam Egwu (PDP Ebonyi North), called on the federal government to consider Akwa-Ibom in future appointments in view of the withdrawal of the petition.

Adamu Bulkachuwa (APC Bauchi North), on his part said the consideration of the report of the Ethics Committee was not necessary as the petitioners had withdrawn the petition.

The Senate President, Dr. Ahmad Lawan, however, observed that there was a procedural issue which made it mandatory for the Committee to submit a report to the Senate despite the decision by the petitioners to withdraw the petition in the first place.

Accordingly, the Senate while adopting a resolution by Senator James Manager (PDP – Delta South), resolved that, “Consequent upon the withdrawal of the petition by the petitioner, the matter is hereby taken and withdrawal approved.”