Vice President Yemi Osinbajo, SAN, has warned his supporters against insulting or abusing APC National Leader and former Governor of Lagos State, Asiwaju Bola Ahmed Tinubu.
Osinbajo served as Attorney General and Commissioner for Justice in Lagos under Tinubu and the duo are eyeing the APC 2023 presidential ticket, which has elicited exchanges between their supporters.
Sources close to the VP said Osinbajo is against anyone abusing Tinubu and has therefore warned his supporters:
“Even if his supporters abuse my mother, don’t retaliate. On no account must he be insulted or denigrated.”
Also, sources have revealed that a major plank of Osinbajo’s support base is the northern emirs, who consider Osinbajo to have demonstrated uncommon loyalty to President Muhammadu Buhari.
Meanwhile, the House of Reps on Thursday, January 20, debated a bill stating that illegal promoters and operators of Ponzi/Pyramids Schemes in Nigeria are to get a 10-year jail term.
The Reps bill will also make the Securities and Exchange Commission (SEC) the apex regulatory body for the Nigerian Capital market.
Sponsored by Hon. Babangida Ibrahim (APC, Katsina), the bill essentially seeks to repeal the Investment and Securities Act, 2007 and enact the Investments and Securities Bill to establish Securities and Exchange Commission (SEC) as the highest regulatory body in the nation’s capital market.
The bill which passed for second reading during Reps plenary will enable SEC to properly regulate the capital market, ensure capital formation, protect the market to ensure capital formation, protect investors, maintain fair, efficient, and transparent market and reduce systematic risks when passed into law.
Speaking during the debate, Ibrahim said “the Bill prohibits Ponzi/Pyramid Schemes as well as other illegal investment schemes and prescribes a jail term of not less than 10 years for promoters of such schemes. The Commission would also be empowered to shut down such prohibited investment schemes.
“We are enhancing provisions relating to efficient regulation of investment scheme. Recently they is a lot of complaints by Nigerians to the extent of the FG itself; but some embargo on us accounts on Ponzi schemes. So as of the time of signing the current act; the Ponzi scheme was not in existence in Nigeria. So we have to put some regulations to monitor them.