The Apex Bank reiterated that all denominations of banknotes issued by it remain legal tender. The Central Bank of Nigeria (CBN) has directed all its branches across the country to continue with the issuance of different denominations of old and redesigned banknotes in adequate quantities to deposit money banks (DMBs) for onward circulation to bank customers. The CBN also insisted that all banknotes issued by it remain legal tender. This was contained in a statement...
The amendment bill seeks to address critical aspects of the Act to enhance the effectiveness, transparency, and accountability of the CBN and its operations. A Bill seeking to mandate the Central Bank of Nigeria to issue at least, a one-year notice before altering banknotes, and calling in old notes has scaled second reading in the House of Representatives. The bill mandates that the CBN prioritise public interest when implementing a cash swap policy. Titled; “A...
Senator Daniel said active community participation in the planning and execution of constituency projects is key. Senator Gbenga Daniel (APC, Ogun East) has identified the high turnover rate of legislators as one of the factors responsible for the poor implementation of Zonal Intervention Projects (ZIP), also known as constituency projects around the country. This is even as he stressed the need to educate citizens on the importance of reporting any irregularities related to constituency projects,...
The committee turned away the Director, Finance and Account of the Industrial Training Fund, Ms. Attah Sophia, and insisted the Director-General of the institute attend in person. The House of Representatives Committee on Finance has called on President Bola Ahmed Tinubu to prevail on heads of Ministries, Department, and Agencies (MDAs) to appear before it to defend the Medium Term Expenditure FrameWork and Fiscal Strategy Paper (MTEF/FSP) in defense of their respective budget for passage....
Akpabio noted that the 2024-2026 MTEF/FSP is being examined at a time when Nigeria is experiencing severe financial and socioeconomic pressure from most development indices. The President of the Senate, Godswill Akpabio has called on President Bola Tinubu to sack heads of Ministries, Departments, and Agencies (MDAs) who shunned the public hearing of the 2024 – 2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). Akpabio made the call while speaking at the...
The House stated that the eight (8) key priority areas of the Legislative Agenda align with the ‘Renewed Hope” Agenda of the Executive. Following much anticipation, the House of Representatives has finally considered and adopted its Legislative Agenda. The much-awaited Legislative Agenda focuses on providing legislative support and solutions to the various socio-economic, political, and governance issues affecting Nigeria. Recall that the report of the ad-hoc committee on the Legislative Agenda was laid on 24...
Rep. Betara assured that the Committee will support the Minister to generate more revenue for the development of infrastructure in the FCT. The House of Representatives Committee on the Federal Capital Territory (FCT) tasked the Minister, Nyesom Wike to commit to improving revenue generation in the FCT to fund the infrastructural deficit in the city. It also urged the Minister to prioritise the security of the lives and property of persons residing in the nation’s...
The motion sponsor posited that provisional admission racketeering practice is being used as a malicious tool to exploit and frustrate intelligent young Nigerians seeking admission into Nigerian universities. The Senate has directed its Committees on Tertiary Institutions and TETFUND, Ethics, Privileges, and Public Petitions to investigate the allegations of admission racketeering and admission fraud in universities across the country. This is even as it summoned the Minister of Education, Tahir Mamman, the Registrar of Joint...
The Speaker said the policy brief series will ensure that policy-makers are making the right choices and decisions to address the country’s security challenges and ensure the stability of its economy. The House of Representatives is set to unveil its Policy Brief Series for key Ministries, Departments, and Agencies (MDAs) of government. The Initiative is aimed at improving constitutional oversight of the executive arm. Tagged ‘Sectoral Debates,’ the series forms part of initiatives by the...
The Deputy Senate President said through constituency projects, rural communities across the country have experienced rapid development. The Deputy President of the Senate, Senator Barau I. Jibrin (APC, Kano) has reiterated the commitment of the National Assembly to partner with Civil Society Organizations and other governmental organizations to strengthen the execution of Zonal Intervention Projects, otherwise known as constituency projects. Barau remarked this while declaring open, a dialogue tagged, Parliamentary Succession and Constituency Projects organized...
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