The Senate sang a new tune on Friday when it reacted to the decision of the Board of the Securities and Exchange Commission to approve the 2013 budget of the commission without recourse to the National Assembly.
The board approved the budget, ignoring the joint resolution of the Senate and the House of Representatives demanding the sacking of the Director-General of the commission, Ms. Arunmah Oteh, on the grounds that she was not qualified to be appointed as the DG.
The resolution was later incorporated in the 2013 Appropriation Bill passed by both chambers on December 20, 2012.
Clause 10 of the bill disallowed SEC from making any expenditure this year without the prior authorisation of the National Assembly.
