The Senate Committee Chairman on Capital Market Senator Osita Izunaso,OFR during a pre hearing session with regulatory agencies such as SEC, BPE and FCCPC made a significant move to halt the sale of Lafarge Cement Plc to Chinese investors.
Senator Izunaso stated that the Senate is concerned on the implication of the transaction (sale of Lafarge Cement Plc to Chinese Investors) on Nigeria’s national security, economic independence and strategic assets.
Speaking further through the disclosed news gotten from his social media page, he stated that they have called on the Federal Government of Nigeria led by His Excellency President Bola Ahmed Tinubu to stop the sale of the Lafarge Cement PLC to the named investors from China.
He noted further that the Senate will continue to exercise oversight functions to ensure that the economic future of Nigeria is not compromised, especially in the Committee where he is the Chairman, to ensure that all capital market activities align with Nigeria’s national interest.