President Muhammadu Buhari on Thursday signed the Climate Change bill and the Asset Management Corporation of Nigeria (Amendment) Act into law.
According to Premimum Times, this was revealed by the president’s spokesperson, Garba Shehu.
The Climate Change bill, which was sponsored by Sam Onuigbo, a member of the House of Representatives paves the way for environmental and economic accounting and a push for a net zero emission deadline plan in the country.
The bill provides the mainstreaming of climate change actions and the establishment of a National Council on Climate Change.
According to Shehu, the AMCOM Act provides for the extension of the tenor of the Resolution Cost Fund and grants access to the Special Tribunal established by the Banks and other Financial Institutions Act 2020, which confers on the corporation the power “to take possession, manage, foreclose or sell, transfer, assign or otherwise deal with the asset or property used as security for eligible bank assets and related matters.
“This, in effect, will help AMCON make recoveries and for debtors to fulfil their commitments to banks.”
