(1). Senate passes bill to establish Nigerian Safety Investigation Bureau (2). Senate begins move to amend 35-yr old BEDA Act
PRESS STATEMENT
Senate passes bill to establish Nigerian Safety Investigation Bureau
The Senate, on Tuesday, February 15, 2022 passed the Nigerian Safety Investigation Bureau (Establishment) Bill, 2021.
The passage of the bill was sequel to the consideration of a report by the Committee on Aviation.
The chamber, midway through consideration of the Committee’s report on the bill last week, stepped it down due to a “mix-up” observed by the lawmakers during plenary.
However, Chairman of the Committee, Senator Smart Adeyemi (Kogi West), in his presentation on Tuesday, said the bill seeks to provide an effective and institutional framework for the prevention, regulation and administration of safety investigation of transportation occurrences in Nigeria, and anywhere Nigerian interest is involved or the transportation vehicle is a Nigerian carrier.
“Also, the purpose of the bill is to enable investigative activities and promote safety through the conduct of transparent, independent and objective investigations in all cases of accident involving any of the current mode of transport in the country”, Adeyemi said.
He noted that the bill’s passage and assent into law would, amongst others, facilitate quick investigation of accidents, create much safer environment and reduce death rates across the country.
The Nigerian Safety Investigation Bureau (Establishment) Bill, 2022, was passed after a clause-by-clause consideration by the Committee of the Whole.
Signed:
Dr. Ezrel Tabiowo, FAI, FIMC, CMC, FCP, Fsca
Special Assistant (Press)
To President of the Senate
Tuesday, February 15, 2022.
PRESS STATEMENT
Senate begins move to amend 35-yr old BEDA Act
…wants bankers, stock brokers, pension administrators to declare assets
The Senate on a Tuesday considered a bill seeking to amend the 35-year old Bank Employees Declaration of Assets (BEDA) Act 1986.
“The Bill For An Act To Amend The Bank Employees (Declaration of Assets) Act CAP B1 Laws of The Federation 2010 And For Other Related Matters 2022 (SB. 900)” was sponsored by Senator Sani Musa (Niger East).
Sponsor of the bill, in his lead debate, said the BEDA Act came into force 35 years ago on the 26th of September, 1986.
He, however, observed that with the creation of the Code of Conduct Bureau, which came into effect 13 years after the BEDA Act, the provisions in the latter have been overtaken by the 1999 Constitution as amended.
He recalled that on 16th March, 2021, the Economic and Financial Crimes Commission (EFCC) announced that all employees of financial institutions (including banks) in Nigeria must declare their assets before 1st June, 2021, in line with the provisions of the BEDA Act 1986.
Accordingly, Senator Musa stated that the bill when passed and signed into law, would make it mandatory for financial institutions, pension fund administrators, insurance firms and stock brokers and their employees to declare their assets.
According to him, it would also provide the required framework to monitor the financial activities of employees of banks and pension administrators to ensure that their lifestyle reflects their earnings.
He added that doing so would discourage the employees from engaging in corrupt practices.
“This bill seeks to extend the application of the Act to employees of other financial institutions which have emerged as key players in the Nigerian financial sector over the years, i.e. pension funds agencies, insurance firms, stock brokers”, Senator Musa said.
The lawmaker explained that the bill also seeks to unburden the office of the Secretary to the Government of the Federation of the responsibility of keeping records of declared assets by Nigeria Customs and bank workers, and transferring same to the regulator of each industry.
The bill after scaling second reading during plenary was referred by the Senate President, Ahmad Lawan, to the Committee on Banking, Insurance and other Financial Institutions.
The Committee was given four weeks to report back to the chamber.
In a related development, two bills seeking to establish the National Institute for Education Planning and Administration; and Federal College of Education Okobo, Akwa-Ibom State, have both passed second reading in the Senate.
The bills were sponsored by Senators Patrick Akinyelure (Ondo Central) and Akon Eyakenyi (Akwa-Ibom South), respectively.
The bills after consideration were referred by the Senate President to the Committee on Establishment and Public Service Matters; and Tertiary Institutions and TETFUND to report back in four weeks.
Signed:
Dr. Ezrel Tabiowo, FAI, FIMC, CMC, FCP, Fsca
Special Assistant (Press)
To President of the Senate
Tuesday, February 15, 2022.