Anxiety as Senate Committee on Capital Market loses two chairmen in one year


The death of Senator Bukar Mustapha (APC) representing Katsina North Senatorial district and Chairman, Senate Committee on Capital Market on Wednesday, 4th April, 2018, is the second in two years that the Committee has lost its chairman.

The late Bukar, though, a first timer, succeeded Senator Isiaka Adeleke, a ranking Senator, who represented Osun West Senatorial district before he died on April 23, 2017.

Both lawmakers died at the age of 63 years and in the same month. While Senator Isiaka Adeleke died on the 23rd April, 2017, Senator Bukar Mustapha died on 4th April, 2018 thus leaving only 19 days interval.

They both have uncompromising commitment to the Committee on Capital market which supervises Securities and Exchange Commission (SEC), a regulatory body under the Federal Ministry of Finance.

DAILY POST could recall its last encounter with Bukar Mustapha when the former Director General of the Securities and Exchange Commission, Mr. Mounir Gwarzo was suspended from office by the Minister of Finance, Mrs Kemi Adeosun over OANDO shares crisis.

In an interview, he granted sometime in January, the late lawmaker condemned the suspension of the SEC DG, while he insisted that due process be followed.

He feared that the nation’s capital market was still volatile given the country’s gradual exit from recession, adding that “instability in that sector would bring instability in the economy.”

An engineer by training, the late Bukar Mustapha had revealed to DAILY POST that subscribers and shareholders of companies who have died left shares behind with cumulative sums of money without claims.

In one of the oversight visits, he discovered that there were manipulation of manual registers detailing the names of shareholders, which according to him, would see to the introduction of electronic register so as to sanitise the capital market of fraudulent practises.

Until early this year that he was virtually unstable in his attendance to sessions for undisclosed reasons, the lawmaker has always participated in all legislative activities, particularly other committees, to which he was a member.

Probed over his incessant absence from plenaries, earlier in the year, his Senior Legislative Aide upon inquiries said, he has been busy about other commitments.

Though, it was unknown the type of illness that killed him, Senators have cautioned themselves on regular medical checks when valedictory session was held in honour of late Senator Ali Wakili who died barely a month ago.

Senator Lanre Tejuosho (APC) representing Ogun Central Senatorial district who is a medical doctor by profession had offered an expert opinion, saying that Nigeria Senators should make themselves available for medical check-up, at least twice in a month.

With the death of Senator Bukar Mustapha, the 8th National Assembly has lost a total of 3 Senators since its inauguration on 9th June, 2015.


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