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The Federal Government inaugurated on June 3 the boards of five regulatory agencies in the health sector. Seventy two persons took oath to serve diligently on the boards of the Community Health Practitioners Registration Board of Nigeria (CHPRBN), Health Records Officers Registration Board of Nigeria (HRORBN), Medical Laboratory Science Council of Nigeria (MLSCN), Medical Rehabilitation Therapists (Reg) Board of Nigeria (MRTBN) and Optometrists and Dispensing Opticians Registration Board of Nigeria (ODORBN). Their appointments come at a time when decisions of regulators underscore their significance and highlight the imperative of having competent regulatory bodies in the country.
Regulatory bodies are some of the often-overlooked institutions within the panoply of government but with outsize importance to the economy and society. They carry out their function in the background. They manifest only when the situation demands. When they do, they take decisions whose impact reverberates across personal, corporate and institutional lives for many years. The implications of such decisions could range from the financial to the personal and professional.
Breach of an innocuous rule by MTN and the dynamics of the season led the Nigerian Communications Commission to impose a humungous fine on MTN Nigeria Communications that threatened the existence of that leading foreign investor and trade relations between Nigeria and South Africa. It delayed the listing of MTN on the bourse as well as sent signals that may not be positive to other investors. Regulatory action.
Regulatory action is currently at the heart of the matter of Oando Nigeria Plc and the Nigerian Stock Exchange. A leading indigenous oil and gas firm, Oando has raised issues about the approach of the Securities and Exchange Commission, its fairness and the appropriateness of the strictures the regulator imposed on it. It is playing out in the courts, of law and … Read More...