The decision of the National Assembly not to approve any allocation to the Securities and Exchange Commission in the 2013 budget has been described as an act that has sent a wrong signal to investors in the stock market.
The Lead Director, Centre for Social Justice, Mr. Eze Onyekpere, stated this on Monday in Abuja during a press briefing on the 2013 Federal Government's budget amendment bill.
The amendment bill was sent by President Goodluck Jonathan to the lawmakers following a disagreement over how some items were treated in the original proposal.
Jonathan had in the amendment bill requested that some clauses, which seemed to suggest that the National Assembly was encroaching on the duties of the Executive, be deleted or modified.
Some sections of the 2013 Appropriation Act, which Jonathan is seeking amendments to, are clause 6(ii), clause 9, clause 7, and clause 10.
Clause 6(ii) inserted by the National Assembly stipulates that the Accountant-General of the Federation must forward to the National Assembly details of funds released to government agencies immediately such are released.
Similarly, clause 9 demands all accounting officers of ministries, departments and agencies of government, which control expenditure, to furnish the assembly on quarterly basis with detailed information on internally generated revenue of the agencies.
