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Acting President Yemi Osinbajo has stated reasons why he declined assent to four bills amended by the National Assembly.
The lawmaker on Wednesday threatened to override Osinbajo’s veto on the four bills.
Osinbajo’s four letters to the National Assembly were read at both chambers by the Senate President Bukola Saraki and House of Representatives Speaker Yakubu Dogara.
The bills rejected are Agricultural Credit Guarantee Scheme Fund (Amendment) Bill 2016, Currency Conversion (Freezing orders) amendment bill, 2016, Dangerous Drugs (Amendment) Bill, 2016 and National Lottery (Amendment), Bill 2016.
Osinbajo said he withheld assent to Agricultural Credit Gurantee Scheme fund because, “of the concerns surrounding board composition, funding arrangements, limitation of liability of funds, and proposals to increase levels of uncollateralised loans from N5,000 to N250,000”.
The acting President said he rejected the Currency conversion bill in view of the concern regarding the modalities for the communication of asset forfeiture orders.
On the dangerous drugs bill, Osinbajo said certain words and phrases utilised in the draft bill may be inconsistent with the Principal Act.
He said he withheld assent to the National Lottery amendment bill, following the existence of pending legal challenge to the competence of the National Assembly to legislate on the subject matter
The lawmaker on Wednesday threatened to override Osinbajo’s veto on the four bills.
Osinbajo’s four letters to the National Assembly were read at both chambers by the Senate President Bukola Saraki and House of Representatives Speaker Yakubu Dogara.
The bills rejected are Agricultural Credit Guarantee Scheme Fund (Amendment) Bill 2016, Currency Conversion (Freezing orders) amendment bill, 2016, Dangerous Drugs (Amendment) Bill, 2016 and National Lottery (Amendment), Bill 2016.
Osinbajo said he withheld assent to Agricultural Credit Gurantee Scheme fund because, “of the concerns surrounding board composition, funding arrangements, limitation of liability of funds, and proposals to increase levels of uncollateralised loans from N5,000 to N250,000”.
The acting President said he rejected the Currency conversion bill in view of the concern regarding the modalities for the communication of asset forfeiture orders.
On the dangerous drugs bill, Osinbajo said certain words and phrases utilised in the draft bill may be inconsistent with the Principal Act.
He said he withheld assent to the National Lottery amendment bill, following the existence of pending legal challenge to the competence of the National Assembly to legislate on the subject matter
