The second reading of the bill was earlier stepped down pending when copies of details would be made available for senators. The Senate has finally passed the N98.5bn FCT 2024 supplementary appropriation bill which had earlier led to a rowdy session in the Senate due to unavailability of a breakdown to Senators. The bill seeks to consolidate the ongoing projects in the FCT and the six area councils within the territory. It proposed a total...
The FRA 2024 bill has passed for first reading at the House of Representatives The House of Representatives on Wednesday read and passed for the first reading the Fiscal Responsibility Act, (Repeal and Enactment) Bill, 2024 (HB. 1478). It was sponsored by the Deputy Speaker of the House, Rep. Benjamin Okezie Kalu (APC Abia), and Co-Sponsored by the majority leader, Rep. Julius Ihonvbere (APC Edo), Rep. Mansur Manu Soro (PDP Bauchi), Rep. Lawan Ali Shetima...
The proposed legislation presents a significant opportunity to drive economic growth and diversification by creating a conducive environment for investment in gold. The Senate has passed for second reading, a bill for an Act to make provision for the establishment of a Nigeria Gold Reserve Agency. This was sequel to the consideration of a bill sponsored by Senator Natasha Akpoti-Uduaghan (PDP, Kogi Central) during Wednesday’s plenary. The bill seeks a robust framework for the harnessing,...
The Abuja budget bill was stepped down because there were no details of how N98.5billion would be spent on as supplementary appropriation The Senate has stepped down an Abuja supplementary budget bill seeking to approve a N98.5billion expenditure for ongoing projects within Abuja, the Federal Capital Territory (FCT). This was during Wednesday’s plenary session when the Senate Leader, Opeyemi Bamidele (APC, Ekiti Central), sought the chamber to debate the bill and possibly approve it. This...
The state oil company has once again come under negative spotlight as the House of Representatives resolved to probe alleged misuse of frontier exploration funds The House of Representatives has resolved to launch an investigation into the activities of the Nigerian National Petroleum Company Limited (NNPCL) over alleged illegal expenditure of the frontier exploration fund. The investigation, ordered on Wednesday, follows a motion of urgent importance presented by Rep. Billy Osawuru (APC, Edo). Osawuru’s motion...
Senator Zam stressed that a practical answer would be a legislation outlawing open grazing throughout the federation. The Senate has passed for second reading, a bill seeking to ban open grazing and create ranches for herders. This was sequel to the consideration of a bill titled, “A Bill for an act to Establish National Animal Husbandary and Ranches Commission for the Regulation, Management, Preservation and Control of Ranches throughout Nigeria; and for connected purpose, 2024,”...
The apex bank said reports trailing the revocation of the license of Heritage bank were untrue and assured that the Nigerian financial system remains safe, sound and resilient The Central Bank of Nigeria (CBN) has dismissed reports suggesting a plan to revoke the licenses of three additional banks following its regulatory action against Heritage Bank Plc on Monday, June 3, 2024. Acting Director of Corporate Communications of the apex bank, Mrs. Hakama Sidi-Ali, revealed this...
The vitriolic language of Bayo Onanuga, President Tinubu’s media aide, against the Nigeria Labour Congress (NLC) has attracted a right of reply from Anthony Ubani, who lambasts him for a distasteful reference to military rule in disagreeing with a civil protest The arrogance, insensitivity and total lack of democratic reflex of the Tinubu administration and its eagerness to constrict civic spaces has been further evidenced by the indecorous and intolerant language used against organized labour,...
The House of Representatives has assured the safety of depositor’s funds following the revocation of Heritage Bank’s license by CBN. The House of Representatives has assured the public of the safety of depositors’ funds following the Central Bank of Nigeria’s (CBN) decision to revoke Heritage Bank’s license and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as the liquidators as stipulated by the Banks and Other Financial Institutions Act (BOFIA). The House urges the...
After serving 75 days out of the prescribed 90 days, the Senate recalled Ningi, who was suspended on March 12, 2023, for accusing its leadership of fraudulently smuggling projects into the 2024 budget. Senator Abdul Ningi (PDP, Bauchi Central) finally returned to the National Assembly after his suspension, which lasted 75 days instead of 90 days. Senator Ningi seemed excited to be back in the Senate and was among the first legislators to arrive at...
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