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Senate approves variation of N31bn in 2009 budget

…approves Oteh as SEC DG

By Emmanuel Aziken $ Inalegwu Shaibu

Abuja—The Senate yesterday approved the variation of N31.038 billion in the 2009 budget out of the approved provisions for eight federal ministries.

Also yesterday, the Senate confirmed the nomination of Ms Arunma Oteh as the new Director General of the Securities and Exchange Commission (SEC) while the nomination of Mr. Ahmed Makele as an executive commissioner was withheld following the latter’s withdrawal from the exercise.

The approval of the virements was upon the report of the Senate Committee on Appropriation and Finance on the virement request presented by President Umaru Yar‘Adua.

Yar‘Adua’s proposal to move funds for road projects in the Federal Ministry of Works, Housing and Urban Development was, however, dropped by the Senate committees upon the submission of the Senate Committee on Works.

The virement request was also seriously objected by senators from the South-South geopolitical zone who protested that the region was unduly disadvantaged by the virement request.

Senators Victor Ndoma-Egba (SAN), the deputy majority leader, Senator Effiong Bob (PDP, Akwa Ibom NorthEast) and Nimi Barigha-Amange (PDP, Bayelsa) in their contributions noted that it was not clear whether their reservations against the movement of funds from the region had been taken care of in the virement.


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