The Akwa Ibom State House of Assembly has passed Debt Management Bill into Law.
The bill, numbered 225 with the title – A Bill for a Law to Provide for the Establishment of Debt Management Office and other Matters Connected therewith – was on Tuesday, February 18, 2020 read the third time and passed into Law.
The bill which was sponsored by the Member representing Ikot Abasi State Constituency, Rt. Hon Uduak Odudoh, was presented to the House through a report by Odudoh who also serves as Chairman, House Committee on Appropriations and Finance.
The House after deliberation of the report through a clause by clause amendments witnessed subsequent adoption by members of the House and Chairman of the Committee of the whole, Rt. Hon. Aniekan Bassey, who read the bill the third time and passed into Law.
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It could be recalled that the lead sponsor of the bill, Rt. Hon Odudoh, among other members of the House had during second reading noted that the bill when assented to by the Governor, will ensure proper accountability and transparency in the financial management of the State.
The lawmakers had said that the law will provide a credible framework for the debt of the State to be managed even as the State will earn some funds from the international community when the law is upheld.
