* Says About N486 Million Was Spent In The Last Accounting Year
*Gives Reason Why Stamp And Seal Expires
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President of the Nigerian Bar Association has debunked the news that the sum of N1.5 billion has been spent so far by his administration. The NBA President made this statement while speaking at the Annual General Meeting of the Association.
According to him, there was no money to spend when they got into office as there were liabilities inherited of over N500 million. He noted that the Bar practice fee collected by his administration so far is about N750 – N770 million, and that the revenue is not even up to N1 billion.
Speaking further, he also said that N450 million of the said amount is in a fixed deposit account. He thus urged members to review the quarterly statement of accounts to confirm these figures. Speaking on financial prudence and accountability, he stated that 10% Bar practice fee has been remitted to branches. He added that this is to show that their word remain their bond, even in the face of inherited liabilities of about N500 million. He also said that about N486 million was spent in the last accounting year, and that N550 million is in fixed deposit as at the time the report is being given.
On member’s welfare, he said that the story of kidnapping and murder of members have been a huge concern to this administration. He noted that they have constantly called families of deceased members to console them. He added that this is done not as a matter of duty but because it is the right thing to do. Speaking on the 2019-2020 plans, he stressed that it is basically to: focus more on them Young lawyers, establishment of the Young Lawyers Forum, also the Women’s Forum to be put together by next week; and the consolidation of Reforms and Gains of 2018-2019. He also listed the amendment of the NBA constitution and the fact that NBA speaks up on topical issues more frequently. He also assured members of the restoration of insurance policy for NBA members.
Paul Usoro, SAN, also assured member of the bar that the current administration will conduct a credible and outstanding election by 2020. The NBA President also spoke on fast-tracking the application of stamp and seal. According to him, a total of 45,069 stamp and seal application was received during the period. This issue was raised following the issue of delay in receiving stamp and seal when applied for.
A member from Umuahia branch, Ifeyinwa, asked how the NBA can make stamp and seal not to have an expiring date. He raised this issue with respect to the fact that stamp and seal get expired though not exhausted. Responding to the question, the NBA president said that the reason for the expiration of the bar stamp and seal is because it is a statutory provision that makes it annually; it is necessary because it checkmates quacks, and that if a lawyer passes on, anyone can take it if it does not expire.
The NBA president also paid a special tribute to all past NBA presidents who have been very supportive to this administration, as well as the past General Secretaries, and NEC members for consistently supporting NBA. He also thanked Branch chairmen for helping to make his work very easy.
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