And while it may have been eclipsed by political matters, the finance and audit reform bill - perhaps the most important piece of legislation was tabled which will seriously limit government's ability to make loans and its ability to hide loans. The prime minister called it a landmark piece of legislation.
Hon. Said Musa,
"...will overhaul the administration of the public service providing greater accountability and transparency in the management of government financing. This bill when enacted will place a ceiling on government's borrowings requiring the approval of this national assembly for any loan in excess of $10 million. It further provides the total amount of amount which may be borrowed or raised by the government at any one time shall not exceed 10% of the GDP. The powers and duties of the financial oversight bodies such as the auditor general and the contract general, are being expanded to provide greater checks and balances for governance. The system of tendering for goods and services is being clearly defined to ensure more open government. The bill requires the government before disposing or selling of any public assets, with a value of or about $2 million to first obtain the written consent of the contractor general and the approval of the national assembly. The sale or lease of any national land in excess of 500 acres or any caye by government shall first be authorized by resolution of the national assembly. In short this bill when enacted strengthens the power of the legislature, reduces the power of the executive, and provides for a more and open effective system of good governance."