Bill to establish Assets Management Agency passes second reading

Reps Bill

Image result for Nigerian Assets Management Bill passes second readingA bill for an Act to establish and regulate the Nigerian Assets Management Agency has scaled second reading in the House of Representatives.

The bill hopes to establish a body that will be charged with the responsibility of managing all government assets, including those seized by federal security bodies.

The bill sponsored by Representative Jones Onyereri, seeks to address the threat to the economy, by providing managerial services to law enforcement agencies in relation to property seized, which are connected with designated criminal offences.

The lawmakers say it’s in view of recent happenings in the country, especially cases of forfeiture in courts conducted by the Economic And Financial Crimes Commission, which has involved properties worth billions from individuals across the country.

The bill did not go down well with a lawmaker who pointed out that the passage of the bill will only amount to the duplication of responsibilities of the Asset Management Corporation Of Nigeria (AMCON).

The bill was referred to the House committee on Banking and currency, for referral.

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