The Senate yesterday considered and passed for second reading a bill seeking to amend the Economic and Financial Crimes Commission (EFCC) Act.
Also yesterday, the Red Chamber agreed to debate the cash withdrawal limits announced recently by the Central Bank of Nigeria (CBN) today.
The proposed legislation seeking to amend the EFCC Act would make it difficult for the president to sack the head of the anti-graft agency without legislative approval.
The bill was sponsored by Senator Chukwuka Utazi (PDP, Enugu).
The bill seeks to ensure that the appointment and removal of the EFCC's chairman would be subject to the confirmation of the Senate.
The bill also seeks to amend the commission's establishment Act to restrict non-EFCC staff from heading the anti-agency.
Leading the debate, Utazi said the proposed amendment was to bring EFCC in conformity with other anti-graft agencies by guaranteeing security of tenure for the commission's chairman.
He said, "For other anti-graft agencies created through the legislative instrumentality, before and later, that is, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Nigerian Financial Intelligence Unit (NFIU), the National Assembly ensured that the headship had security of tenure by ensuring that their appointments and removal, as the case may be, were subject to the confirmation of the Senate.
"That was not the case with the EFCC. Therefore, in this proposed amendment, it is intended to bring the EFCC in conformity with the other two anti-graft agencies of government. This will engender optimal performance by the Commission of the very important mandate assigned to it."
On barring non-EFCC staff from heading the commission, Utazi said the amendment would enhance professionalism in the service of the anti-graft agency.
Abdurasheed Bawa is the first EFCC staff to be appointed as the chairman of the anti-graft agency. Others who had served as the commission's chiefs were appointed from outside of EFCC.
Utazi said President Muhammadu Buhari's action to appoint the EFCC chairman from within was commendable and needed to be backed by law to guarantee tenure security.
He said, "President Muhammadu Buhari has carved his name and administration in gold by this very singular action, and posterity will never forget him.
"All that is required of this parliament is to endorse this executive action by amending the EFCC Establishment Act to restrict non-trained EFCC staff from headship of the Commission, going forward. This will enhance professionalism in the service of this anti-graft agency."
Also, the Senate at plenary yesterday passed the 2023 budget of the Nigerian Communications Commission following the presentation of the Committee on Communications.
The NCC 2023 budget was N559,080,711,000.00 made up of total recurrent expenditure of N86. 7 billion, capital expenditure of N5. 2 billion and special projects of N35 billion.
The commission was expected to transfer N416 billion out of the projected revenue to the Consolidated Revenue Fund.
The red chamber also passed the Universal Service Provision Fund 2023 budget of N16 billion.
It was made up of N2. 4 billion recurrent expenditure; N124.8 billion capital expenditure and projects expenditure of N13. 4 billion.
Senate Debates CBN Withdrawal Limit Policy Today
Meanwhile, the Senate yesterday agreed to debate the CBN's cash withdrawal limits today.
The apex bank had limited maximum cash withdrawal limit for individuals to N100,000 and corporate bodies to N500,000 per week.
The Senate President, Ahmad Lawan, disclosed this during plenary, following a point of order by the Senator representing Ekiti North Senatorial District, Olubunmi Adetunmbi.
The Senator drew the attention of his colleagues to the absence of the Chairman of the Committee on Banking, Insurance, And Other Financial Institutions, Senator Uba Sani, from the chamber.
Adetunmbi, who is also a member of the Committee, said the panel Chairman was billed to present the report of the screening exercise conducted for the two CBN Deputy Governor-nominees - Mrs Aishat Ahmad, and Mr. Edward Lametek Adamu.
Both Ahmad and Adamu, were recently reappointed by President Muhammadu Buhari who requested the Senate's screening and confirmation for their second and final tenure at the apex bank
Ahmad, who is the CBN Deputy Governor on Financial System Stability , had explained details of the policy to the panel during the screening last week Friday, when she and her colleague, appeared for screening.
Details of the explanation given by the CBN Chief was to be presented for debate alongside the screening exercise yesterday by the senators.
However, Adetunmbi said the debate could not take place again because the Panel Chairman, who is the All Progressives Congress Governorship candidate for Kaduna State, Senator Uba Sani was in his state for the party's presidential campaign rally.
Adetumbi said, "Exactly a week ago the senate resolved that the committee on banking and financial institutions should come forth today to report on the enquiries that it was mandated to make of the new policy of the Central Bank on the withdrawal limit.
"The committee was specifically mandated to interrogate these issues based on the concern that was expressed in the chamber, with the two deputy governors that were coming for clearance.
"This took place on Thursday last week. Two candidates came for clearance and the issues were thoroughly looked into especially in the opening remarks of the chairman.
"He specifically reported that the senate the they made the two deputy governors to elaborate on the issue the rationale behind this policy in view of the massive public reaction to that policy.
"The deputy governors gave elaborate explanation and the committee also requested for further evidence in terms of documented reports that were that will enable the committee to fully understand the issues behind this policy during the plenary appropriately.
"Unfortunately the report is not ready today because the chairman of the committee is busy on political assignment where has will receive very special politicians in the presidential he is coming tomorrow to present the formal report of the committee," he stated.
Adetunmbi's explanation did not go down well with the Senator representing the Bauchi North Senatorial District, Adamu Bulkachuwa.
The Senator said the fact that the panel didn't submit its report should not stop the Senate Debate on the CBN Nara withdrawal limit policy.
He said, "We should not allow this thing to be swept under the carpet, it is a very serious issue and Nigerians are waiting to see what the Senate will do like the House or Representatives.
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"The House of Representatives have asked the Governor of the Central Bank to stay action on this, leaving it till tomorrow is giving him another and another excuse and I urge this Senate to discuss this thing today. "
The Senate President ruled Bulkachuwa out of order and insisted that the matter would be debated today.
Lawan said, "I don't think it is fair to say we are sweeping the matter under the carpet. To sweep something under the carpet in my understanding means to avoid it.
"Nobody here suggest by action or inaction that we are avoiding discussion on this matter.
"I think it is appropriate to give the Chairman of the Committee opportunity to come and present his report personally and Senator Adetumbi is a member of the Banking Committee.
"The Vice of the Committee who is the Chief Whip is here and they are all in attendance.
"They have something to tell us. The Chairman want to present the report himself and when he does that, we will be better informed and we can take appropriate action.
"Tomorrow is less than 24 hours by the grace of God. Please distinguished Senator Adamu Bulkachuwa, I want you to be present so that if there is anything that you want all of us to know even as all of us here feel strong about this.
"If we are going to debate it, let's do that on the basis of information because that is when we can argue it and say no, stop it because of superior argument. So, let's not doubt our sincerity here. "
