In line with its quest to become financially autonomous , the Oyo State House of Assembly has passed the Oyo State Legislature Funds Management Bill, 2020 into Law.
The bill was passed after the presentation of the report of the House Committee on Public Account, Finance and Appropriation read by its Chairman, Hon Akeem Mustapha (Kajola State Constituency).
The Law is to provide for the management and administration of the finances of the House by the Legislature without having to go cap in hand to the Executive arm.
This will enable the Legislature to carry out its own projects and allocate resources where and when necessary.
While commenting on the passage of the Oyo State Legislative Funds Management Bill, 2020 into Law, the Speaker Oyo State House of Assembly, Hon Adebo Ogundoyin said the lack of financial autonomy for the State Legislature has been a long standing issue.
Hon Ogundoyin explained that the Legislature will not be highly efficient and effective if its finances are tied directly and completely to the Executive arm of Government.
” The Legislative arm of Government will not truly serve as check and balance to the Executive arm if it doesn’t have financial autonomy. It will enhance legislative business and strengthen our democracy. This will fast track the activities of the Legislature and advance its course.
” However the fear in some quarters that there must be financial discipline even by the Legislatures has been taken care of as there are some sections in the Law that have made provisions for adequate mechanism to check mismanagement and misappropriation of funds. ” The Speaker added.
He expressed optimism that with the cordial working relationship existing between the Executive and the Legislative arm in Oyo State, the Governor will assent to the law.
According to him, the passage of the Bill is another landmark achievement for the 9th Oyo State House of Assembly.