Oyo State House of Assembly has passed into law, a bill for the Oyo State Bonds, Notes and other Securities Issuance, 2013.

    The house during its plenary presided over by the Speaker, Honourable Monsurat Sunmonu passed the bill after the consideration of a report of the House Committee on Public Accounts, Finance and Appropriation presented by the Committee Chairman, Honourable Olusegun Olaleye.

     In her remark after the consideration and passage of the bill, the Speaker, Honourable Sunmonu commended the committeee for doing a thorough job.

    She added that the lawmakers in the 7th Assembly is cognisance of the fact that they are representatives of the citizen of the State, hence, the need to scrutinize the expenses of government to ensure prudency and accountability.

    Briefing the press on the essence of the bill, the Chairman House Committee on Public Account, Finance and Appropriation, Honourable Olusegun Olaleye said the bill is not a new one at the House had given it a nod early in the year.

    Honourable Olaleye said the new law is to ensure prudent management of the bond since it is a tax payer money the government is seeking to use for the infrastructural development of the State.

    According to him, the new law will avail the government to have a powerful Debt Management Agency that will manage both the income and expenditure of the fund.

   The new law will also give the House of Assembly the power to receive a quarterly report from the State Commissioner of Finance on how the fund is being managed, saying this will give an opportunity for checks and balances and make the lawmakers true representatives of the Citizenry.

   Meanwhile, the Minority Leader of the House of Assembly, Honourable Rafiu Adekunle implored the State Government to see that every zone in the State benefited from the projects the funds is aimed to provide.

   Also at the plenary, the House confirmed the appointment of Honourable Olatunbosun Wasiu as the Transition Chairman of Olorunsogo Local Government of the State following an earlier request by the State Governor to confirm the appointment.

   Dr. Busari Adebisi, Chairman State Universal Basic Education Board (SUBEB) has been invited to appear before the house.

   4 bills, Oyo State Minberal Development Agency 2013, Oyo State Signage and Advertisement Agency (Amendment) Bill,2013, Oyo State Inland Fisheries Bill, 2013 and Oyo State Commercial Vehicles and Transport Operators (Enumeration and Administation) Bill, 2013 passed through fisrt reading.