17 January 2013

Nigeria: SEC - NBA Flays NASS' Refusal to Approve Budgetary Allocation

Photo: Vanguard
Budget 2013

NIGERIAN Bar Association, NBA, Wednesday, condemned the refusal of the National Assembly, to approve budgetary appropriation for Securities and Exchange Commission, SEC, for year 2013 budget because of the face-off between members of the House of Representatives and Director-General of SEC, Ms. Arunma Oteh.

It will be recalled that the House of Representatives failed to invite Ms.Oteh to defend her appropriation for approval in this year's budget and consequently demanded her sack as a condition to approving the Commission's budget.

NBA President, Mr Okey Wali, SAN, told newsmen at the association's secretariat, that the National Assembly was empowered by the constitution to make laws for the peace, order and good governance of the country, arguing that the Assembly should deal with institutions and not individuals in the performance of their duties for the benefit of Nigerians.

Wali faulted the lawmakers'demand for the sack of Oteh before they can approve funds for SEC describing same as interference in the functions of the executive arm of government. While arguing that the lawmakers should not interfere in the functions of the executive, he described their action as unconstitutional and inconsistent with democratic principles.

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