IMO ASSEMBLY ENACTS LAWS FOR DEBT MANAGEMENT BOARD, REPEALS AUDIT LAW
•AS MEMBERS PASS BILL FOR ESTABLISHMENT OF STATE, LGA AUDITOR-GENERAL’S OFFICES
Honorable Members of the Imo State House of Assembly on Tuesday, June 29, 2021 passed two bills into Law.
The ninth House, led by the Speaker, Rt. Hon. Paul Emeziem gave an accelerated hearing and eventual passage of the two different bills into Law, awaiting for the State Governor’s assent.
The first bill is titled, “A bill for a Law to provide for the establishment of the Imo State Debt Management Office and for other related matters”.
The Law, according to the document may be cited as the Imo State Debt Management
Office (Establishment) Law, 2021, made up of seventeen pages.
Part of it states that both Consolidated Debt Service Account, dedicated as saving account from which public debt repayment obligations of the State will be fulfilled, and the Consolidated Revenue Fund of the State were all captured.
The total revenue and assets of the Government maintained in an account by that name, including all statutory allocations from the Consolidated Revenue Fund of the Federation and all internally generated revenue are said to be strictly protected in the Law.
Presenting the bills respectively, the Deputy Majority Leader of the House and Member representing Ehime Mbano State Constituency, Hon. Barr. Emeka Nduka disclosed that the first bill is basically aimed at regulating Government borrowing.
Hon. Nduka posited that it would also checkmate thoroughly, how Government of Imo State, and her successive Governors will henceforth borrow money, when to borrow and how to offset each loan gotten.
He maintained that the said bill is for the progress of the State and her development.
“There will be a database of entries in respect to any debt or loan the State borrows. The government will be able to explain strongly reasons it should borrow”.
The Ehime Mbano Legislator however extolled the State Governor, Senator Hope Uzodinma for being keen in making sure that transparency, accountability and due process tops the chart of his administration.
Furthermore, Nduka asserted that although every State in the Country borrows money for development, that of Imo State won’t be different, hence the deep thought of the Legislative House to streamline the policy by passing the bill into Law.
Contributing to the debate, the Deputy Speaker, who represents Nwangele Constituency, Rt. Hon. Amara Iwuanyanwu described the bill as a wonderful one, geared towards protecting the interest of the State.
He recalled that in absence of the Law, the State do not have a database of debts incurred by previous administrations, which Governor Hope Uzodinma is keen at ensuring that such scenario doesn’t occur again.
However, some of the functions of the Office when established include the following;
To issue, on behalf of the State, such Instruments as the State may desire to 1ssue; Borrow on behalf of the Government, from any individual or institutional bodies;
Maintain a reliable database of all instruments issued, loans taken or guaranteed by the Government or any of its agency, and all contingent liabilities related to it; Prepare and submit to the Government, a forecast of loan service obligations for each financial year; Prepare and implement a plan for the efficient management of the State’s debt obligations at sustainable levels compatible with desired economic activities for growth and development, and participate in negotiations aimed at realizing those objectives.
Other functions of the debt management office as contained in the Law are;
To verify and service debts guaranteed or taken directly by the Government; To reconcile and where applicable service debts taken by Local Governments where such debts are authorized and guaranteed by the Government; Set guidelines for managing Government financial risks and financial exposure with respect to all loans and instruments; To advise the Government on the restructuring and refinancing of all debt obligations.
In a related development, the House also passed a Law to repeal the Imo State Audit Law No.17 of 2016 and enact a Law to provide for the establishment of the Audit
Service Board, Offices of the Auditor-General for the State and
Auditor-General for Local Governments for the purposes of ensuring and guaranteeing transparency and accountability in the use of public funds and for other related matters.
The bill is a seventy-one page bill.
Leading the debate also, the Deputy Majority Leader, Hon. Emeka Nduka said the
Imo State Audit Law No.17 of 2016 was repealed, and new Law enacted to accommodate all relevant clauses that were skipped in the old law.
He pointed out that the new Law is more clearer, stressing that the major objective is to ensure transparency and accountability in both the State and Local Government Service of Imo State.
Nduka opined that there would be no financial rascality as it will be fully regulated through the new Board to be established under the Law.
“We repealed the old Law and established a new Audit law. It will be more clearer and transparent, to regulate both State and LGAs through the Board, in the aspect of spending every money meant for each purpose.
As laudable as the Law is, it regulates the way and means of spending of our money”.
“The Governor is a transparent man, so he believes and moves on the right part towards accountability and transparency as well”.
The two bills received a robust debate, support and contributions of the Members to warrant for its speedy passage.
DEPUTY SPEAKER, AMARA IWUANYANWU EXTOLS UZODINMA ON YOUTH EMPOWERMENT
•CHARGES BENEFICIARIES ON PRODUCTIVITY
Deputy Speaker of Imo State House of Assembly, Rt. Hon. Amara Chyna Iwuanyanwu has extolled Governor Hope Uzodinma’s love for humanity, especially towards Imo Youths.
This was contained in his speech at the Dan Anyiam Stadium, Owerri, last week Friday, June 26, 2021 during the flag off of the 15,000 youth empowerment program by the Governor.
Rt. Hon. Amara Iwuanyanwu represents Nwangele State Constituency, and doubles as the House Committee Chairman on Youths, Sports and Entrepreneurial Skills.
He described the act as “one in a million”, the mother of all empowerments recorded in the history of Imo State.
In appreciation to the Governor for having the vision, Rt. Hon. Iwuanyanwu started by reminding all that he is the youngest Deputy Speaker in the Federal Republic of Nigeria as at today because of the platform provided by the Shared Prosperity Government and APC in Imo State.
He therefore averred, “Your Excellency, onbehalf of the youth of Imo State, we want to say thank you for using us to start up economic activity in the entire State”.
“Today, you are empowering 15,000 youths, by tomorrow, 15,000 businesses will be started in the entire State”.
“Despite the challenges that have come, you have remained undaunted, you have remained focused, and that remains inspiration to us the youths. You will continue to inspire us”.
“Your Excellency today, you have remembered the youths, and I want to assure you that a time will come when the youths of Imo State will remember you and pay you back”.
The Deputy Speaker stated that with the two hundred and fifty thousand naira (#250,000) empowerment package, thousands of Imo youths have been taken away from the streets, who would be currently engaged in meaningful gesture.
He added that Uzodimma has taken a proactive step in solving Imo Security challenges by strategically empowering the youths with start-up capital who are expected to venture into their respective line of businesses.
Iwuanyanwu pointed out that the empowerment would also cushion the effects orchestrated by the Covid-19 pandemic, which took a toll on the flesh of many families. Stressing that through the gesture, many families will be revived.
Governor Uzodinma was further commended for his milestone in teaching Imo youths how to fish, rather than being fed. Hon. Amara Iwuanyanwu submitted that the current economic growth has gone beyond ‘white collar’ jobs, pointing out that Small Medium Enterprises, as well as Skills and entrepreneurial knowledge are great source of survival.
To that effect, he maintained that the youths who were taught on different skills would soon become ‘masters’, and in turn be an asset to the State.
However, Iwuanyanwu called on the people to lend a keen support to Governor Uzodinma, buttressing that he has done well in both infrastructure, empowerment and economic development.
For the beneficiaries, the mouthpiece of Nwangele in the State Legislature urged them to be focused and take the opportunity seriously.
He charged them on productivity, resilience and resourcefulness, and to say ‘no’ to crimes, criminality and violence.
IMO PASAN APPRECIATE FG, STATE GOVT OVER LEGISLATIVE AUTONOMY
The Paliamantary Staff Association of Nigeria (PASAN) lmo State chapter through her Chairman, Comrade Victor Nnadi has thanked Mr President, Mohammadu Buhari on the executive order 10 for the passage of Legislative Autonomy for all the Houses of Assembly across the 36 States of the federation.
Speaking to Journalists in Owerri, the State capital on Tuesday 29th June, 2021, Comrade Nnadi noted that the Association, started her strike action on 22nd of March, 2021, and was called off in June 2021.
He said that the purpose for the strike was to draw the attention of the Government of the day towards issues bordering on Staff salaries, reduction and delay in payment.
He added that the law was signed in 2017 which needed little amendment for the Autonomy to come to be, but added that the motion moved by the Deputy Speaker, Rt. Hon. Amara Chyna Iwuanyawu was a commendable one for the fast tracking of the project.
Comrade Nnadi seized the opportunity to appreciate the President and the Governor of lmo state, Senator Hope Uzodinma for their roles in ensuring that the Executive order is actuallized, and Autonomy of the House of Assembly fully implemented.
Comrd Nnadi extolled the Executive and members of PASAN for their patience and approach in handling the issue.
“We are grateful for the promises that the minister of Labour, Chief Chris Ngige made towards the Independence of the House of Assemblies.
PASAN helmsman in the State reiterated that Governors were given 45 weeks to make the order of the president to be a law by giving Autonomy to the Houses of Assembly which Imo has already begun.
However, Comrade Nnadi maintained that all the monies owned them be paid to enable them live fine and function effectively in peace.
