Bill For Law For Management Of Anambra State Assembly Funds Scales Second Reading

A bill for a law to provide for the management of funds of the Anambra
State House of Assembly has scaled second reading in the State House
of Assembly.

The bill is being sponsored by the Majority Leader, Dr. Nnamdi Okafor
and twenty nine others.

House of Assembly Correspondent, Chukwuemeka Modilim was there and reports that the Anambra State Legislative Funds Management Bill 2020, seeks to provide for the Management of Funds accruing to the State House of Assembly from the consolidated Revenue Fund of the State in order to ensure accountability, transparency, effectiveness and efficiency in the utilization of the funds.

Leading the debate on the bill, the Majority Leader, Dr Okafor
explained that the bill when passed will enable the House manage its
capital and recurrent expenditures in accordance with the provisions
of the law.

On his part, the Chairman, House Committee on Information and Culture,
Honourable Okechukwu Okoye described the bill as the best thing that
has happened to the House as it will enable it discharge its duties
creditably.
The Member representing Anambra East Constituency, Honourable Obinna
Emeneka who noted that since the inception of democracy in Nigeria,
State legislature has been yearning for financial autonomy in order to
function effectively maintained that the bill will reposition the
legislature in Anambra State.
The Member representing Orumba North Constituency, Honourable Emeka
Aforka and his Idemili North counterpart, Honourable Ifeanyi Chiekwu
said that the bill is the only legal instrument that will help the
State House of Assembly attain full financial autonomy, just as the
member representing Onitsha South Constituency One, Honourable Uzoma
Elih described it as one that will create synergy among the three arms
of government and encourage full separation of powers.
The Speaker of the House, Right Hoonurable Uche Okafor, assured that
the House will look at the bill critically and give it accelerated
hearing.
Later the bill was referred to House Committees on House Services,
Finance and Appropriation to do further work on it and report back to
the House.
Supporting motion for adjournment, the member representing Anaocha
Constituency Two, Honourable Ejike Okechukwu commended the speaker and
members of the House for their condolences on the sudden demise of his
mentor, the late Dr Anthony Enukeme, Onowu Neni.
CHUKWUEMEKA MODILIM/DNCA/ABUCHI/AMADI 17/6/2020

Shareholders of African Export-Import Bank Afreximbank have
re-appointed an Anambra born, Professor Benedict Oramah as President
of the Pan-African multilateral financial institution for a second
five-year term.

The decision was announced, in Cairo Egypt following Afreximbank’s
twenty-seventh Annual General Meeting of Shareholders which was held
by circulation of resolutions due to the COVID-19 pandemic situation.

In an acceptance statement released shortly thereafter, Professor
Oramah told Shareholders that the Bank’s ultimate goal under his
second term in office is the realization of Africa’s strategic
ambition to create an integrated market.

He added that African Continental Free Trade Agreement will drive the
industrialization of Africa, support the emergence of regional value
chains, turn Africa’s creative and cultural assets into engines of
growth, grow jobs for the continent’s youth, convey respect to
Africans wherever they may be and better prepare the continent to
compete more effectively in the global Markets.

Professor Oramah re-affirmed commitment that with the support of the
relevant shareholders, the Bank will remain well capitalized
throughout his term of office and beyond, assuring of continuous
efforts to diversify sources of equity to include the Markets while
ensuring that the Bank’s development focus remains unchanged.

Professor Oramah who assumed the position of President and Chairman
Board of Directors of Afreximbank on the twenty-first September 2015,
is an Indigene of Nnokwa in Idemili South Local Government Area.

The African Export-Import Bank which is a Pan-African multilateral
financial institution with the mandate of financing and promoting
intra-and extra-African trade was established in October 1993 and is
owned by African governments, the African Development Bank and other
African multilateral financial institutions as well as African and
non-African public and private investors.