From Ndubuisi Orji, Abuja
House of Representatives has rejected a bill seeking to scrap the Nigeria Sovereign Investment Authority (NSIA) with all its fund transferred to the federation account.
The bill also sought to transfer the management of all investments made by NSIA to the Ministry of Finance Incorporated.
The proposed legislation entitled: “A bill for an act to repeal NSIA (Establishment ETC) Act 2012 and for related matters,” was sponsored by Chairman, House Committee on Public Accounts (PAC), Oluwole Oke.
Oke, in his lead debate, said the Central Bank of Nigeria (CBN) is already performing some of NSIA functions and that there is need to repeal the act, establishing the authority.
“One of our decisions in 2011 is to set up a body, called NSIA to, among other things, manage, save resources for Nigerians. Some of these functions are already being performed by CBN. Aside that, the point I am making today, which I want the parliament to look at, is whether this decision of ours to set up this body conforms with Section 162 of the constitution of the Federal Republic of Nigeria,” the lawmaker said.
However, some of the lawmakers, who contributed to the debate, kicked against the bill, noting that the NSIA was set up to help the country save for the rainy day and should not be scrapped.
One of the lawmakers, Lynda Ikpeazu, in her contribution, said the House must understand the purpose for establishment of the NSIA, especially as it does not offend any law.
“The sponsor made a reference to Section 162 of the constitution. But when you look at 162(3,4), you will find out that this parliament set up this fund. Now that’s not to say we can’t repeal; but what I am saying is that it doesn’t offend it,” Ikpeazu said.
Also, yesterday, the House rejected a bill seeking to regulate international studies for children of public officials.
The proposed legislation, with the title, “A bill for an act to regulate international studies for wards and children of Nigerian public officials, to strengthen indigenous institutions, provide efficient educational services for national development and for related matters,” was sponsored by Sergius Ogun.
Ogun, in his lead debate, said the aim of the bill was to stop public officials from sponsoring the education of their children abroad with public fund.
This, he said, would also help to reduce brain drain in the education sector among other benefits.
“The bill does not prevent public officers or private citizens from sending their children/wards for studies abroad, it only seeks to ensure a public officer who desires to send his/her child/ward abroad, does not divert public funds to so do.
“Thus, such public servant must first show that he/she has the legitimate means to sponsor his/her child/ward on such foreign education trip.
“The bill will help in fostering the development of our educational institutions as it will instil accountability and seriousness into public servants, at all levels, who are saddled with the responsibility of implementing the policies and programmes of government,” he said.
However, majority of lawmakers opposed the bill, saying it would amount to an infringement on the right of public officials to decide where their children are educated.
Deputy Minority Leader, Toby Okechukwu, while speaking against the bill, said the House should be able to ascertain the real solution to the problem in the education sector.
Okechukwu said: “My challenge, essentially, is within the realm that makes it look like all public officers that have their children overseas are corrupt and are doing so through public funds.
“We have sent a number of our public officers to other jurisdictions as public servants. We have ambassadors, we have people who are in the diplomatic corps, who ordinarily, in the course of their duty, would be occasioned to have their children’s school oversees.
“Secondly, is it likely that children schooling overseas is the reason our educational institutions are not working effectively? We must make a distinction between hiring competent people who should man offices, who is responsible based on knowledge as against legislating for things that may not cure the problem.”