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The House of Representatives on Thursday stepped down the consideration of the joint Committees on Finance, Banking and Currency and Aids, Loans and Debts Management’s report on the restructuring of N23.7 trillion of the Ways and Means advances.
The resolution was passed during the Committee of Supply, chaired by the Deputy Speaker, Hon. Idris Wase.
The Committee chaired by Hon. James Faleke had urged the House to consider the report on the Restructuring of Ways and Means Advances and approve the Recommendations therein, which was laid on the 26th of January, 2023.
While soliciting the approval for the restructuring of N23.7 trillion of the Ways and Means advances, the lawmakers also called for the approval of the N1 trillion additional Ways and Means at the tenor of 40 years, moratorium of 3 years and interest of 9 percent.
Sequel to the absence of the Chairman, the House Committee on Finance, the House resolved to step down the consideration of the report.
Also at plenary, the House received the report of the Ad-hoc Committee on recovery of outstanding debts owed by Oil and Gas Companies in Nigeria, which was laid by the Deputy Majority Whip, Hon. Nkeiruka Onyejeocha.
In the same vein, the House received the report of the Committee on Public Accounts on the Auditor General’s the Federation Annual Report for the year ended 31 December 2015 and on the Financial Statement of the Accountant–General of the Federation for the year ended 31 December 2015.
Chairman, House Committee on Public Accounts, Hon. Wole Oke also laid the reports on the Auditor General’s for the Federation Annual Report for the years ended 31 December 2017 as well as the 2018 fiscal year for consideration.
During the plenary proceedings, the House passed through Second Reading a bill that seeks to establish Donor Agencies Regulatory Commission.
In his lead debate, Hon. Unyime Idem commended donor agencies who have continued to provide aid to Nigerians in such important sectors as healthcare delivery and poverty alleviation, however, stressed the need to account for the finances coming into the country and how they are expended by receiving agencies and bodies.
However, Hon. Ossau Nicholas Ossai who spoke against the bill stated that money from donors is granted to different agencies and for different purposes, and over-regulation may constitute bureaucratic bottlenecks between agencies.
On his part, Hon. Uzoma Nkem-Abonta stressed the vagueness of the facts in the Bill such as it claiming it has no financial implications for Nigeria.
While stressing that the Bill, if passed will bring retrogression to the Nigerian economy, the former Chairman of, the House Committee on Public Petitions wondered how the Bill will want to regulate donor agencies under the United Nations, which he argued may scare the Donor Agencies away from Nigeria.
On his part, Hon. Chinyere Igwe stated that the Bill is against the natural rights of Civil Society Organizations and should not be supported by members.
Towing the same path of opposing the bill, Hon. Wole Oke observed that there are already government platforms that deal with what the Bill seeks to achieve and that if passed, the Bill will cause duplication of functions of agencies.
He also stated that the government of the day has always tried to promote the fact that donations to the nation are critical even as a means of contributing to the budget.
In his remarks, Speaker, Hon. Femi Gbajabiamila opined that the proposed Bill seeks to cure such issues as tracking funds coming in and what such funds are used for.
He maintained that even the Donors will be happy to see that their donations are used for what they were purposed for.
On his part, Deputy Speaker, Hon. Ahmed Idris argued that some shady actions of some agencies that benefit from these funds contribute to factors that ensure problems persist for such funds to keep coming in.
While commending some sincere NGOs, he however stressed the need to have a regulatory policy to ensure sanity in the acquisition and utilization of such funds.
Also venting his support for the bill, Hon. Ahmed Jaha who noted that the actions of some Civil Society Organizations fall just a shy short of criminality called on these agencies to make their accounts public.
While noting that the duplication of activities of these agencies tends to fool international donors, he called for the effective regulation of these agencies.
Despite the stiff opposition against the bill, the bill was passed through Second Reading and referred to the House Committee on Civil Society for further legislative action.
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