By Ifeoluwa Odunayo
The House of Representatives has cautioned the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, against attempting to suspend any law enacted by the National Assembly.
House spokesman Akintunde Rotimi, responding to the minister’s remarks at a stakeholders’ meeting, made it clear that the Financial Reporting Council Act 2023 remains legally binding unless formally amended by lawmakers.
Rotimi stressed that only the National Assembly has the constitutional authority to make, amend, or repeal laws.
He advised the minister to follow due process by seeking an amendment rather than making unilateral declarations.
Reaffirming Nigeria’s commitment to constitutional democracy, the House warned against actions that could create legal uncertainty.
Lawmakers also instructed the Financial Reporting Council to continue enforcing the law, ensuring stability in the regulatory environment for businesses.
