The final act of WRC 2023 comprises both the new and revised provisions of the radio regulations, which, put together, benefits Nigeria Nigeria has joined the rest of the world in endorsing the revised provisions of the radio regulations, which contain the outcome of agreements on agendas put forward by signatories to the international treaty governing the use of the radio-frequency spectrum and satellite orbits This happened at the just concluded World Radiocommunications Conference...
The representatives fear the escalating conflict between the navy and pipeline security firms contracted by the NNPCL could defeat the move to check oil theft in the delta The House of Representatives has resolved to wade into the increasing confrontation between the Nigerian Navy and private security firms contracted for pipeline security services in the Niger delta. The House accordingly mandates its special committee on oil theft in the the Niger Delta to investigate the...
The motion called for the probe of alleged diversion of billions from the natural resources development fund over the years The House of Representatives is set to investigate the usage of funds in the National Resources Development Fund established for the advancement of the solid minerals sector from 2002 to 2023. The House made this resolution at plenary on Thursday, December 21, 2023, following the adoption of a motion on the “need to investigate the...
The apex bank encourages members of the public to report hoarding through a specially created online channel as it moves to arrest naira scarcity The Central Bank of Nigeria (CBN) has warned commercial banks and Point-Of-Sale (PoS) operators against collusion in creating artifical scarcity of the naira. This comes on same day the House of Representatives called on the CBN to disrupt the activities of POS operators who charge exorbitant fees to provide naira notes...
The House is set to investigate the failure of commercial banks to pay customers over the counter forcing them to patronize POS operators who sell naira notes at exorbitant prices The House of Representatives has resolved to investigate the sale of naira notes at exorbitant price by Point-of-Sale (POS) operators across the country. The House expressed concern over the failure of commercial banks to pay customers over the counter, thus forcing them to resort to...
The senate extended implementation of the 2023 budget till March 31st 2024, to allow MDAs to utilise capital releases which would otherwise be returned to treasury The Senate has granted an accelerated passsage to an amendment of the 2023 budget and the supplementray money bill passed last November. The rationale is to extend the implementation of the 2023 budget till March 31, 2024 so that Ministries, Departments, and Agencies (MDAs) of the Federal Government some...
President Tinubu had ealier requested the Senate to screen and confirm 11 justices recommended for the Supreme Court bench. The Senate has confirmed the appointment of 11 Justices recommended for the Supreme Court. The confirmation followed the consideration of a report of the screening and approval of the nominees presented by the Chairman, Senate Committee on Judiciary, Human Rights and Legal matters, Senator Mohammed Tahir Monguno (APC, Borno North) during Thursday’s plenary. In his contribution,...
The Senate committee had observed discrepancies in the accounts of the CAC and was therefore miffed at the continual absence of the CAC boss The Registrar-General of the Corporate Affairs Commission (CAC), Ishaq Hussain Magaji has come under fire from the Senate committee on finance as it has mandated the Inspector-General of Police to compel his appearance before it within 24 hours. The Registrar General had turned down the Senate Committee’s invitation to defend its Commission’s...
The representatives are demanding the adoption of mechanisms to make the Chinese Yuan (CNY) an official foreign exchange reserve currency The House of Representatives has urged for the use of the Chinese Yuan as an official exchange currency as a way to mitigate the continuous depreciation of the naira. This House made this resolution on Wednesday, December 20, 2023, following the adoption of a motion moved by Rep. Jafaru Gambo Leko (Bauchi, APC) on the...
The House has directed its committees on finance and petroleum resources (upstream) to conduct a comprehensive investigation on all NNPCL joint venture operations over alleged $60 billion revenue loss The House of Representatives is set to probe the Nigerian National Petroleum Company Limited (NNPCL) for the alleged loss of $60 billion to inflated cash call payments on Joint Ventures (JVs) over the years. This resolution followed a motion which highlighted the “need to investigate the...
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