Friday, September 23, 2016

Senators oppose Saraki on sale of assets, demand TSA review, true federalism

        Senators on Thursday opposed their President, Bukola Saraki, kicking against the call for the sale of some national asset.

       Mr. Saraki had yesterday joined the call by some Nigerian elite for the federal government to sell some assets to raise funds to help the country out of recession. Many of the senators who contributed as the debate on the recession in the country continued in the Senate, blamed the elite, including some lawmakers, for the economic problems of the nation.
      Some called for the restructuring of Nigeria’s federalism while others called for a review of some fiscal policies, including the Single Treasury Account (TSA).
Leading the debate, Deputy Leader of the Senate, Bala Na’Allah, called on the government to reconsider its policy on TSA and its policy on domiciliary accounts. He admitted that though the intention for making the policies may have been germane, they were unfortunately affecting the economy adversely.
      He said that the TSA policy had stifled the banks and as such, money was no longer circulating in the economy through loans, mortgages and other means.

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