The Chairman of the House of Representatives Committee on the Capital Market, Hon. Herman Hembe, has resigned his position following the allegations of corrupt practices levelled against him by the Director General of the Stock Exchange Commission, Arunma Oteh.
Hembe tendered his resignation on Tuesday.
He, however, maintained his innocence.
Hembe had after the allegations were levelled that he and members of his committee demanded for N44 million bribe, said he was prepared to subject himself to investigation to establish the truth in the claim by Oteh.
He said his resignation was to allow him to properly defend himself of the allegations made by Oteh on March 15.
An ad-hoc committee to continue the probe of the Capital Market has been set up.
It is to be headed by Hon. Ibrahim El-Sudi from Taraba State.
The ad-hoc committee has 21 days to complete its assignment.