Last week Buhari signed the executive aimed at restraining owners of assets under investigation access to them.
The president had said the order would help boost his administration’s fight against corruption.
However, at plenary on Wednesday, Nicholas Ossai from Delta state, moved a motion seeking to suspend the order.
Ossai said the executive order, among other things, contradicts the recovery of public property act which vests the federal high court with powers to direct; or prohibit any disposition of properties belonging to persona under investigation.
“The executive order number is similar to the dreaded decree number 2 of 1984 that could be used as an instrument to hunt, traumatize, harass and victimize perceived political opponents,” he said.
Bode Ayorinde from Ondo said the order is against the principles of democracy.
According to him, “we are in a democracy and there is a clear separation of powers, this should not be allowed.”
The house also resolved to invite Abubakar Malami, attorney-general of the federation; and Kefas Magaji, chairman of Nigerian Law Reform Commission, to appear before the house and submit a list of all subsidiary legislation in Nigeria within two weeks
They also resolved to set up an ad hoc committee that will investigate all subsidiary legislation and executive orders in Nigeria.
The motion was sponsored by 27 other lawmakers. They argued that the order usurps the constitutional powers of the national assembly to make laws and also hijacks the powers of the judiciary.
Majority of the lawmakers voted against it when it was put to a voice vote.
In protest, lawmakers of the All Progressives Congress (APC) staged a walkout.
The Peoples Democratic Party (PDP) had kicked against the order, describing it as a descent to fascism.
The opposition party had threatened to file legal action against Buhari.