Presidency, NASS Set To Review Trade Treaties

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An aide to the President of the Senate, Bamidele Omishore says the Presidency and National Assembly are partnering to review treaties and conventions entered into by Nigeria.

Omishore, who is Special Assistant to the Senate President on Foreign Affairs and International Relations, disclosed this to the News Agency of Nigeria (NAN) in Abuja on Sunday.

He said Nigeria entered into several conventions decades ago and that it had become necessary to review some of the treaties to ensure that Nigeria gets the best out of such partnerships.

With reference to illicit financial flows from Nigeria, which is sometimes tied to vague clauses in some of the treaties, Omishore said a review aim at domesticating such treaties would serve the nation’s interest first.

He recalled that the Presidency, in 2017, also alluded to its plans to take a second look at conventions and trade partnerships entered into by Nigeria.

“Nigeria has different treaties and partnerships that we’ve signed with different countries.

“We are now going through all those treaties to see how we can domesticate them to ensure that Nigeria gets the best from every agreement signed with different countries.

“The executive is taking a lead; our 8thSenate is to make sure we provide the legislative framework and the appropriate oversight to make sure the interest of Nigeria is protected at all times,’’ he said.

Omishore recalled that late last year, the executive indicated the intention to review different treaties because times are improving and changing.

“The executive is taking a look at it while the national assembly’s leadership is also looking to see if some of those things favour us or not.

“On the illicit financial flows that are going on, that is definitely being looked at as well.

“The 8th National Assembly is looking to make sure that the illicit transactions are stopped, but government at the same time is creating an environment for businesses to be done with ease.

“Within the next few months, some strong regulations and laws will be proposed and we will move forward through that.’’

Speaking on his role as an assistant on foreign relations, Omishore said his mandate was to assist the President of the Senate in building stronger relationships with the international community. (NAN)

Source:The Nation


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