The House of Representatives Committee on Corporate Social Responsibility on Tuesday moved to enact laws to sanction offenders.
According to Orogbu, some companies operating in the country have over time violated the law, hence the need for punishment to be melted at them. “I want you as a regulatory body to organize those telecommunication companies where they will be meeting between this parliament and the telecommunication, we gave them the powers to operate in Nigeria so to refuse to honour the invitation of the parliament is a no, no, we take exception to it. The parliament is frowning at it and this is an opportunity to say clearly.
While making a presentation, Mr Wondi Ndanusa who spoke on behalf of the Central Bank of Nigeria, Governor, said that the CBN is in support of the bill, he however raised concerns about the proposed penalty of imprisonment to defaulting companies, said rather than the penalty, it should be persuasive.He further proposed that the SCR should be domiciled in the corporate affairs commission.