The lawmaker representing Ogu Bolo constituency in the Rivers State House of Assembly, Hon Evans Bapakaye Bipi, has accused the previous administration of Rt Hon Chibuike Rotimi Amaechi of looting all monies from the reserved funds of the State.
Hon Bipi who at plenary on Tuesday (yesterday) rose in defense of the scrapping of the law setting up the funds said:
“the former administration siphoned all the savings from the fund, so which funds are we reserving. The intention was to enrich themselves and not Rivers people”
He wanted the law immediately repealed to give way for development.
In his argument, the majority leader of the house, Hon Martin Amaewhule said it was necessary to repeal the law which was passed in 2008 and its amendment done in 2014., because it was no longer in tandem with current realities.
Recall that part of the law stipulates that a certain amount of N1bn should be saved monthly in the Reserved Funds from the Federal Allocation “for the rainy days”.
Amaewhule described the law as obsolete, noting: “Mr Speaker, in the face of biting recession, with the difficulties faced by the state in generating IGR, this law could no longer stand, and when a law becomes obsolete, it is the duty of the executive to call for the repeal of such law”
“My people of Obio Akpor constituency 1 have taken a cursory look at this law and we have come to the conclusion that it is not in the best interest of the people”
“you cannot ask a man that has not eaten to save, if we do not repeal this law now, it would hamper the good intentions of the government”
“the only way for us to allow the governor to go ahead with his good works is to keep this law in the cooler”
He had a soul mate in Hon Christian Ahiakwo who argued that the law was not good for the now.
“Mr speaker nobody should talk of the rainy day when the rainy day is here, it (the law) may have served the purpose at that time, but not now”
“we are talking of the sum of N1bn to be removed from the Federal Allocation, Mr Speaker, how much is the Federal Allocation that we are saving N1bn from it”
Others who spoke in favour of the bill to repeal the Reserved Fund law of 2008 and its Amendment of 2014 were Hon Enemi George and Hon Farah Dagogo.
Speaker of the House, Rt Hon Ikuini Owaji Ibani committed the bill to the committee on public accounts to summit its report within two weeks.
