News

Reps Commences Process To Amend CIPSMN Act 2007

Published

4 months ago

July 16, 2024

By Gloria Ikibah

The House of Representatives has started the process of amendment of “A Bill For an Act To Amend The Chartered Institute of Purchasing And Supply Management of Nigeria Act, 2007 To be In Tandem With What Obtains In Procurement Professional Practice Across The Globe And For Related Matters ( HR. 346/2924)”.

Declaring the session open, Speaker Tajudeen Abbas, said the public hearing reinforces the dedication of the House to an open, participatory and consultative parliament as enumerated significantly in the Legislative Agenda and demonstrated in the recent open NASS Week organized to interface with the masses of our country.

The Speaker who was represented by the House Leader, Rep. Julius Ihonvbare, said that public hearing is a key legislative process put in place by the parliament to provide relevant stakeholders and other members of the public a robust window to be part of the parliamentary practice. In so doing, your views, feelings and aspirations are captured in the legislative framework to guarantee better legal outputs.

He said: “Effective procurement and supply processes play a vital role in economic growth and development and essentially provoke efficient public service delivery, hence the need to reform the Chartered Institute of Purchase and Supply Management to modernize the profession in line with global standard practice to stimulate enhanced proficiency on the part of the practitioners and to foster greater positive results in public and private governance”.

Giving his submission the Bureau for Public Procurement (BPP) asked the House not to pass the bill seeking to amend the Chartered Institute of Purchasing and Supply Management of Nigeria, as the amendment being sought will largely bring the institute in conflict with the mandate of the Bureau.

Representative of the Director General of BPP, who is the Director of Civil Infrastructure, Nasir Bello said allowing the amendment being sought by the bill will bring the institute in conflict with the mandate of the Bureau.

Bello said having reviewed the Bill, the Bureau, is of the view that allowing the amendment to section 1(c) which seeks to “(c) providing training, education and examination of persons desiring to become professional procures as well as procurement auditors according to the provisions of the Act whether in Nigeria or abroad” will bring it in conflict with section 5(k) of the Public Procurement Act.

In addition, he said amending section 12 as contained in the amendment bill will also bring it in conflict with global standards and the provision of the Procurement Act, adding that the institute should rather focus on its primary role in relation to purchasing procurement, store, materials, warehouse, logistics management or procurement chain management in Nigeria and other parts of the world.

He said: “It should not be allowed to delve into function functions of the Bureau in relation to procurement and Public procurement in particular. In carrying out its mandate as stipulated in Section 5 (k) of the PPA, the Bureau has several higher institutions of learning handling courses on Procurement. The institute may change its name but the scope of its mandate should remain, as it is contained in its extant law.

“Notwithstanding the foregoing, should the House be inclined towards allowing the proposed amendment (without the Bureau necessarily conceding). The Bureau wishes to draw attention to the provision of Section 5(s) of the PPA which vests in the Bureau as the Regulator of Public Procurement in Nigeria, the mandate to co-ordinate relevant training programs to build institutional capacity”.

The Director further stated that the provision of the intended training by the Institute, especially in the area of Public Procurement, must be co-ordinated by the Bureau, as the regulatory Agency for Public procurement in Nigeria.

According to him, the PPA, 2007 allows the National Council on Public Procurement and the Bureau of Public Procurement as the Regulatory Authorities responsible for the monitoring and oversight of Public Procurement, harmonizing the existing Government policies and practices by regulating, setting standards and developing the Legal framework and professional capacity for Public Procurement in Nigeria; and other related matters.

Bello explained that the Act is to remove all impediments that had hitherto prevented effective and efficient management of public procurement in Nigeria including the private sector, adding that some of the major impediments included lack of competition and transparency, non-publication of contract opportunities, non-prior disclosure of rules to be used in the selection process, lack of standard bidding documents and setting practice guidelines for procurement practitioners, allow free entry and exist and align with global best practices in line with the UNCITRAL Model Law through multi- stakeholder engagement.

He added that the world has moved onto specialization and sector-based professionalization of public procurement. We now have within the same country or across different continents provisions for specialized services and their co-existence.

Earlier in his remarks, the Chairman, House Committee on Public Procurement, Rep. Unyime Idem said the bill is priority bill because of the important role it has played in shaping professionals in the field of purchasing and supply chain management in Nigeria and the development of high standard professional skill, ability and integrity among all those engaged in procurement practice.

He said the House committee was committed on Public Procurement to upholding the legal and institutional framework for the enthronement of transparency, accountability, value for money and efficiency in the procurement of works, goods and services within Ministries, Departments, Agencies, and Parastatals as stipulated in the Public Procurement Act, 2007.

He said Strict adherence and due process compliance with the PPA, 2007 is mandatory for all MDAs, to avoid legal repercussions and ensure the efficient and ethical utilization of public resources.

Ends

News

Before final liquidation, NDIC set to auction Heritage bank properties

Published

1 hour ago

November 14, 2024

Naijablitznews

In a bid to ensure timely declaration of liquidation dividends to uninsured depositors of the failed Heritage Bank (In-Liquidation), the Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of auctioning the landed properties and chattels of the defunct bank.

According to the Corporation, this exercise is in line with its statutory powers as the Liquidator of failed banks under section 62 (1)(d) of the NDIC Act, 2023, noting that; “This is another follow-up action sequel to the disposal of physical assets and chattels belonging to the defunct bank at its leased locations nationwide”.

This was contained in a statement signed by the Director, Communication and Public Affairs Department, Bashir A.

Therefore, the auction of the landed assets shall be by competitive bidding in sealed bids scheduled to take place at the six (6) selected locations of the Corporation across the country, for the affected 36 branches of the failed bank beginning from Wednesday 4th December 2024.
“Buyers who wish to participate in the auction are expected to follow laid down guidelines purposely aimed at ensuring transparency, fair competition, equity, and accountability to enable recovery of commensurate values from the exercise. This is critical for the payment of liquidation dividends to eligible claimants.

The Corporation shall give preference to financial institutions who are willing to buy at the highest auctioned value to allow for the continuation of provision of banking services to the Nigerian public at the designated locations”, adding; “This is desirable towards bolstering financial inclusion as envisaged by the financial system regulatory authorities.

“However, Corporate bodies and Private individuals willing to compete are equally eligible to compete in the process without prejudice, the auction shall be open and competitive to all bidders.

Furthermore, bidders will be allowed to inspect the properties and chattels across all locations one week before the date of disposal.”

Importantly too, the statement said; “All interested parties are to make available 10% bid security of the value of their sealed bids to be dropped in the bid box provided at the specific centre out of the six locations of the Corporation as contained in the published advertisements.

“All interested bidders are advised to submit their bids only at the designated NDIC offices covering their choices amongst Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt.”

Meanwhile, the Corporation has vowed that there would be no hiding place for debtors of the defunct Heritage Bank whose financial obligation portfolio is in the region of over N700 billion.

News

Naira slumps in parallel market

Published

3 hours ago

November 14, 2024

Naijablitznews

The Naira experienced a slight depreciation yesterday, slipping to N1,740 per dollar in the parallel market compared to its previous rate of N1,735 per dollar on Tuesday.

According to data from FMDQ, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market (NAFEM) strengthened, rising to N1,645.4 per dollar from Tuesday’s rate of N1,689.88 per dollar. This marks an appreciation of N44.48 for the Naira.

The market also saw a significant increase in dollar trading activity, with turnover climbing by 122.5 percent to reach $236.84 million, up from $106.44 million the previous day.

As a result, the gap between the parallel market and the NAFEM exchange rate widened, now standing at N94.6 per dollar, up from N45.12 per dollar recorded on Tuesday.