Reps reject bill seeking to scrap NSIA

By Christiana Ekpa

The House of Representatives, Thursday rejected a bill that seeks to scrap the Nigeria Social Investment Authority and transfer its functions and assets to the Federal ministry of Finance Incorprated.

Many members of the House who spoke against the second reading of the bill were of the opinion that the agency was carrying out the functions for which it was set up, stressing that what needed to be done was the strengthen it and make it stronger to be able to discharge its mandate.

Deputy Minority Leader, Rep. Toby Okechukwu said the Lagos/Ibadan Expressway, the second Niger Bridge and the Abuja/Kano dua carriage way are projects being handled by the NSIA, stressing that “these are the only projects we can say for sure will be completed”.

Okechukwu argued that repeating and transferring the functions of the agency to the Federal Ministry of Finance will not be doing justice to the agency, adding that the excuse of that it was not being accountable to the National Assembly should not be a reason to repeal a law.

He said “If an agency of government failed to be accountable or respond to calls from the National Assembly, that agency should be sanctioned and if possible, the Head of that agency should be sanctioned.”

Justifying why the law should be repealed and the function transfer to the Ministry of Finance, Sponsor of the bil, Rep. Oluwole Oke said the core mission of the NSIA is to building a savings base for the Nigerian People, enhance the development of Nigeria’s infrastructure and provide stabilisation support in times of economic stress with the core value of discipline, Integrity and Transparency.

He said the Excess Crude Account which was established earlier by former President Olusegun Obasanjo has been in contention with the NSIA and has been a source of tension between the State and Federal Government over its constitutionality and legality.

According to him, the establishment and administration has consistently been fraught with controversies and numerous illegalities, adding that contrary to the core values, it has consistently been that of total disregard for due process, transparency and accountability.

He said the National Assembly should take a final and definite position regarding its establishment, adding that the provisions of Section 162(1) of the Constitution is very clear as to where payments of all revenues of the Federation should be paid into, which is the Federation Account, that belongs to the entire Government of the Federation.