President Muhammadu Buhari has signed the climate change and Asset Management Corporation (AMCON) Amendment bills into law.
The National Assembly passed the two bills recently.
The climate change bill was sponsored by a member of the House of Representatives, Sam Onuigbo.
It provides for, among other things, the mainstreaming of climate change actions and the establishment of a National Council on Climate Change.
The Senior Special Assistant on Media and Publicity to the President, Garba Shehu, who disclosed this in a statement, said the bill also paves the way for environmental and economic accounting.
READ ALSO: EFCC recovers N1.66tr for AMCON
He added that the AMCON (Amendment) Act would replace the AMCON Act No. 4, 2010.
Shehu said: “It 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.
“The Act confers on AMCON 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 fulfill their commitments to banks.”
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