Repeal Of Reserved Fund Law, Imperative – Bipi

The Chief Whip of the Rivers State House of Assembly, Hon. Evans Bipi, says the need to repeal the State’s Reserved Fund Law No. 2 of 2008 is sequel to the massive looting of the state’s reserved fund by the administration of former Governor Chibuike Rotimi Amaechi .
Bipi, who stated this during the debate on the Rivers State Reserved Fund Repeal Bill 2017 at the Assembly’s plenary session in Port Harcourt, Tuesday, narrated how the former administration siphoned all the savings from the reserved fund to enrich themselves and fund the All Progressives Congress (APC) in the 2015 general elections in the country.
He stressed the need for the immediate repeal of the law to give way for the development of the state.
Also speaking, the Leader of the House, Hon. Martin Amaewhule said the prevailing economic recession in the country has made it imperative to repeal the law which was passed in 2008.
“In the face of the current recession and dwindling federal allocations to the state, this law can no longer stand the test of time. And when a law becomes obsolete, it is the duty of the executive to call for its repeal”, he explained.
Maintaining that the law is not in the best interest of the Rivers people, Amaewhule said that it must be repealed to facilitate the development of the state.
Speaking in similar vein, the lawmaker representing Ogba/Egbema/Ndoni Constituency 1, Hon. Christian Ahiakwo argued that since the previous administration could not save for the rainy days with the fund, the law must be repealed.
He called for immediate repeal of the law “to allow Governor Nyesom Wike to go ahead with his good works than to continue keeping the money in a fruitless saving”.
The Speaker of the House, Rt. Hon. Ikuinyi Ibani, consequently committed the bill to the Committee on Public Accounts for further action.
Meanwhile, the Rivers State Reserved Fund Repeal of 2017 Bill has passed the second reading at the plenary session in the House.
Speaker of the House, Rt. Hon. Ibani committed the bill to the Committee of Public Appropriation after debates on the bill.

Enoch Epelle