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...
Despite initially gearing up for a significant strike to pressure the government, organized labour called off the nationwide strike just 24 hours in, opting for a five-day pause. The Organized Labour has suspended its nationwide strike for five days to facilitate uninterrupted meetings with the tripartite committee on the new national minimum wage. This announcement was made by the President of the Trade Union Congress (TUC), Festus Osifo, on Tuesday in Abuja, following a joint...
While Nigerians groan over labour unionists’ shutdown of the national grid, the Senate focused on several issues that need to be resolved in the proposed new minimum wage. The nation has been in total blackout for over 24 hours amidst the ongoing labour strikes. Given the cost of alternative sources of energy, businesses and citizens have called for an end to the hardships caused by the persisting power outage. However, while it was expected that...
After four hours of deliberations in a closed-door meeting, all efforts made by the FG and NASS leadership to stop the planned indefinite nationwide strike by organised labour failed. Labour unions have decided to go ahead with their strike action as planned despite the intervention by the President of the Senate, Godswill Akpabio and the Speaker of the House of Representatives, Rep. Tajudeen Abbas. At the meeting, stakeholders noting that the position of Organised Labour...
Akpabio and Abbas to mediate between the federal government, NLC and TUC to avert Monday’s nationwide Labour strike The leadership of the National Assembly has announced its intention to mediate between the Federal Government and Organised Labour to prevent an indefinite nationwide strike set to begin on Monday, June 3, 2024. This was revealed in a joint statement on Sunday by Senator Yemi Adaramodu, Senate Spokesman and Rep. Akin Rotimi, Jr. House Spokesman. They urged...
Part of a document of the drafted regional government bill went viral on social media on Friday. According to the document it is expected to be passed into law before October 1, 2024. In the spirit of returning to the Old National Anthem, Dr Akin Fapohunda, a retired director with the federal civil service, has drafted the bill seeking a return to the regional government in Nigeria as it was in 1963. Part of a document...
How can you tell me that NIPC generated N2.89 billion and on record, you spent N3.15 billion we asked, where did you get the money and who gave you the authority to spend above the budget? The House of Representatives Committee on Finance has raised concerns over the financial operations of the National Investment Promotion Commission (NIPC) after the agency reported an expenditure of N3.15 billion despite submitting a revenue of N2.89 billion for the...
Rep members shared divergent views at the special joint session of the Senate and House making 25 years of unbroken democracy In a joint session held on Wednesday, members of Nigeria’s House of Representatives expressed divergent views on the achievements and challenges of the country’s 25 years of uninterrupted democracy. The session highlighted contrasting perspectives on the state of the nation and its democratic journey. Rep. Julius Ihonbvere (APC Edo), the Leader of the House,...
Reps blow hot move to probe CBN’s retrenchment of 600 employees including directors, with almost all staff members in the Governor’s Directorate being terminated. On Wednesday, the House of Representatives resolved to investigate the conditions surrounding the recent dismissal of approximately 600 employees from the Central Bank of Nigeria (CBN). This was a sequel to a motion of urgent public importance moved by Rep. Jonathan Gbefwi (SDP, Nasarawa), during a plenary session on Wednesday. It could...
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