The Senate has set a machinery in motion for amendment of the Central Bank of Nigeria ( CBN ) Act 2007, which will among others, make tenureship of Governor of the apex bank, a six year single term as against renewable five years in the extant Act. It also proposes N1trillion recapitalization for commercial banks which presently stands at N100billion. As the Senate moves for sweeping reforms in […]
Senate has confirmed four persons for appointment as members of the National Hajj Commission of Nigeria, (NAHCON). Their confirmation followed adoption of report of the Committee on Foreign Affairs at the Committee of the Whole in Abuja. The report was presented by Chairman of the Committee, Senator Bello Abubakar. Those confirmed are : Jalai Arab (Chairman). Aliyu Abdul-Razak( Commissioner Policy, Personnel and Finance.)Mr.Anofiu Elegushi(Commissioner Operations),Prof. Abubakar Yagawal(Commissioner(Planning and Research). By […]
The Senate Committee on Finance has frowned at N17trillion loss incurred by the country on tax waivers within the last five years. The red chamber consequently urged the Federal Inland Revenue Service ( FIRS) , to suspend the tax waivers as a result of alleged abuse and substitute it with rebating system. Senate's objection to the allegedly abused tax waivers came to the open during the 2024 budget presentation of […]
The Senate has constituted the 1999 Constitution Amendment Committee. President of the Senate, Godswill Akpabio, announced the composition of the committee during plenary in Abuja. Senator Akpabio emphasized the need for the senate to look at some aspects of the constitution to bring it in line with current realities, based on observations that needed to be put in the right direction. He said that the committee, which had one […]
The Senate says the Service Chiefs will be grilled on Wednesday and Thursday this week as a result of the unabating state of insecurity in the country. The red chamber stated this during postponement of the interface between the CBN and the Senate Committee on Banking, Insurance and other Financial Institutions from Tuesday to Friday this week. Chairman of the Committee, Senator Adetokunbo Abiru said the planned interface […]
The Senate Committee on Banking, Insurance and other Financial Institutions has summoned the Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, to appear before it on Tuesday next week on state of the economy and free flow of Naira at the forex market. The Committee Chaired by Senator Adetokunbo Abiru hurriedly met on Wednesday when the Naira plummeted to N1,520 to a US dollar and resolved […]
By Kayode Oyedare President of the Senate, Godswill Akpabio says the Tenth National Assembly will support the Executive for realization of the Renewed Hope Agenda of the current administration. Senator Akpabio while addressing the Methodist Cathedral of Unity Abuja congregation at their Christmas service believes that the country is safe in the hands of President Bola Tinubu. Senator Akpabio maintained that the national assembly will review some obsolete laws to […]
James Itodo The Senate Committee on Information and National Orientation has frowned at meagre allocations proposed for the Ministry of Information and National Orientation in the N27.5trillion 2024 budget. Displeasure of the Senate at the paltry budgetary proposal made for the Ministry was further fueled by clear cut vision of its Minister, Alhaji Mohammed Idris Malagi rolled out for implementation in 2024 before members of the committee during budget defence […]
By James Itodo Senate has urged the executive to ensure allocation of at least 10 per cent of total annual budget revenue to agricultural production. Chairman, Senate Committee on Agriculture Production, Services and Rural Development Senator Salihu Mustapha stated this during the joint budget defence session of the Ministry of Agriculture and Food Security. Mustapha said the Senate and House Committees on Agriculture Production, Services and Rural Development were […]
