Channels Television say the House failed to pay for live transmission of the debate

The ongoing probe of the House of Representatives into the near-collapse of the capital market was stalled on Monday after the House committee investigating the sector failed to secure live television coverage for the hearing.

The adhoc committee on capital market, led by Ibrahim El-Sudi, said there had been a communication break between the committee and Channels Television, which was to beam the session.

“We were supposed to air today’s sitting live, but there was a communication chasm with Channels, hence our inability to carry the probe live,” El-Sudi, adding that the sitting will resume on Wednesday.

However, a staff of the television station, who did not want his name published, said the committee had failed to pay for the transmission after promising to do so over the weekend.

“The committee approached us for live coverage and we agreed and gave them our rate,” he said. “They said they were going to get back since Friday; up till now nothing has been heard.”

The botched sitting was attended by the Minister of State for Finance, Yerima Ngama; a deputy governor of the Central Bank of Nigeria,Kingsley Moghalu; and the Director General of the Security and Exchange Commission (SEC), Arunma Oteh.

The committee’s work has drawn attention since its inauguration as it replaced the House standing committee on capital market, whose members were forced to resign over bribery allegations.

Oteh had accused the Herman Hembe-led committee of soliciting N44 million bribe from SEC; and in return, Hembe claimed the agency had offered to bribe the committee with N30 million.

Since inauguration, the new committee has sought to distance its deliberations from the controversy, and the chairman, El-Sudi has repeatedly pledged transparency and a live telecast is seen by the lawmakers as one avenue to achieve public support.

“Nigerians are interested in knowing what is happening so that confidence can be restored,” he said.

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