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As the Senate marked one year in office on June 9 2015, Senator Rafiu Ibrahim representing Kwara South senatorial district has disclosed the number of bills and motions he sponsored in one year.

Senator Ibrahim who is an astute and experienced legislator in the upper chamber of the 8th National Assembly chairs the Senate Committee on Banking, Insurance & other financial institutions and equally belongs to other significant committees that drive the activities of the red chamber.

Some of these motions include Indiscriminate Use And Abuse Of Waivers For Rice Importation, Gross Mismanagement of the Education Tax Fund 2011-2015 and Need to investigate the sale of Bank of Industry shares in WAMCO Nigeria Ltd.

However, the report on the indiscriminate use and abuse of waivers was considered at the floor of the Senate on Tuesday 24th May 2016.

According to him, the motion resolves to strengthen institutional weakness by review of all regular laws, Customs and excise act; Nigeria Export promotion council act; export (incentives and miscellaneous provisions) Act CAP 118 of 1986(as amended by the Act, No 65 of 1992) etc.

“Going forward, the Nigeria Customs service should only accept bank indemnity and not corporate indemnity to avoid future loss of revenue to the government.

“Officials of relevant agencies such as Budget office of the Federation and Federal Ministry of Agriculture & Rural Development that carried out the award of waivers, concessions, grants and pioneer incentives to underserving Companies should be sanctioned.

“The tariff and tariff review Technical committee should be resuscitated to play their statutory role of open and transparent administration of import duty waivers, concession and grants.

“The federal government as a matter of urgency should restructure and streamline the functions and responsibilities of the budget office of the federation in such a way that will prevent it from further abuses and excesses in the import duty waivers, concessions and grant that is transparent,” he said.

Meanwhile, he has sponsored four bills and co-sponsored two. Some of the bills include a bill for an Act to provide legal framework for credit bureau services for other matters connected therewith and a bill for an Act to provide for the establishment of the Nigerian trade and other matters connected therewith which have passed second reading.

Others are Securitization and issuance of asset- backed securities and bill, 2016, Mortgage institutions and allied matter bill, 2016, Federal Mortgage Bank of Nigeria Act, 1993 (repeal and re- enactment bill) 2016 and Electronic Transactions Bills, 2015 (SB.015).

However, the Electronic Transactions Bills, 2015 (SB.015)  was passed by the Senate on Wednesday, December 16, 2016 while Bankruptcy Act No 16 of 1979 Cap B2 LFN 2004 (Repeal and enactment) Bill, 2016 (SB.009) which was referred to the committee on Banking Insurance and other Financial Institution was passed by the Senate on Thursday, May 26, 2016.

The 8th Senate on Thursday, June 9, held a special session to mark one year since its inauguration in 2015. While holding the special session, the senators celebrated the peace and unity that had enveloped the red chamber in spite of the very turbulent and rancorous inauguration and proceedings.

The President of the Senate, Dr Bukola Saraki while making a speech to mark the anniversary of the Senate said that the upper legislative chamber had moved away from division to embrace peace.

He however said that in spite of the seeming great achievements, there were still a lot of things which the Senate ought to have done which was still pending.
4:13 PM

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