President Muhammadu Buhari has signed into law two significant bills passed by the National Assembly, making them part of the Federation’s laws.
The Climate Change Act arose from a measure submitted by a member of the House of Representatives, Sam Onuigbo, and calls for the mainstreaming of climate change activities as well as the establishment of a National Council on Climate Change.
It also prepares the way for environmental and economic accounting, as well as a drive for the country’s net-zero emission timeline plan.
The Asset Management Corporation of Nigeria (Amendment) Act amends the AMCON Act No.4, 2010.
It extends the term of the Resolution Cost Fund and gives the corporation access to the Special Tribunal established by the Banks and other Financial Institutions Act 2020, which gives the corporation the authority “to take possession, manage, foreclose or sell, transfer, assign or otherwise deal with the asset or property used as security for eligible bank assets and related matters.’’
This, in effect, will assist AMCON in making recovery and debtors in meeting their bank commitments.
The president gave his approval to the laws on Wednesday, just before meeting with US Secretary of State Antony Blinken at the State House in Abuja.