The Nigerian Senate has confirmed the nominations of Rimini Haraya Makama and Sunday Abraham Oshadami as Executive Commissioners for the Nigerian Communications Commission (NCC). The confirmation took place during Tuesday’s plenary session following the presentation of a report by the Senate Committee on Communications. Senator Bilbis Aliyu Ikra (Zamfara Central), …
Read More »Federal Data Bank Establishment Bill Passes First Reading, Senate Moves
The Senate on Wednesday has set machinery in motion to establish the Federal Data Bank by passing for first reading, a bill sponsored to that effect by Senator Jimoh Ibrahim (APC Ondo South). The bill titled: “A Bill for an Act for the establishment of a Federal Data Bank would …
Read More »Why CBN Opposes Senate Plan to Enact New Anti-Money Laundering Law
The Central Bank of Nigeria on Thursday kicked against plan by the Senate to enact new anti-money laundering laws without required amendments on the existing Money Laundering ( Prevention ) Act 2011. The CBN Governor, Godwin Emefiele, made the position known during a public hearing in Abuja organised by Senate …
Read More »Buhari Nominates AbdulRasheed Bawa as New EFCC Chairman
Nigeria President Muhammadu Buhari has nominated AbdulRasheed Bawa as the substantive chairman of the Economic and Financial Crimes Commission (EFCC). Bawa’s nomination was contained in Buhari’s letter of nomination to the Nigerian Senate for confirmation. “President Buhari has asked the Senate to confirm Mr. Abdulrasheed Bawa as substantive chairman of …
Read More »Senate Invite CBN Governor, DG SEC Over Cryptocurrency Ban
The Senate has mandated its Committees on Banking, Insurance and Other Financial Institutions, ICT and Cybercrimes and Capital Market to invite the Governor of the Central Bank of Nigeria, Godwin Emefiele to brief it on the recent ban on cryptocurrency in the country. The Senate also invited the Director General …
Read More »Senate Decries $120m Annual Losses in Petroleum Product Shipment
The Senate on Tuesday has raised concerns over reports that the nation loses over $120m annually, following overwhelming patronage of foreign shipping firms in the shipment of petroleum products. The upper chamber has therefore, directed the Nigerian National Petroleum Corporation to initiate the processes of patronising and boosting the capacities …
Read More »Senate Approves Revised 2020 Budget
The National Assembly has finally put closure to the 2020 appropriation process by approving the reworked bill on Thursday. The senate raised the budget of N10,59 trillion submitted by president Mohammadu Buhari to N10.805 trillion. The House of Representatives had passed the budget on Wednesday. The N10.805 trillion was …
Read More »Senate Calls CBN Out Over $3.3bn Unremitted Foreign Tax
The Senate has queried the Central Bank of Nigeria over alleged unremitted $3.3bn from the $21.3bn collected by the Federal Inland Revenue Service as foreign tax in 2015. The Public Accounts Committee of the red chamber issued the query after its meeting on Wednesday. The Senate panel said it acted …
Read More »2020 Budget: FG Proposes 20% Cut from Capital Project
The federal government is proposing a 20 per cent cut in the capital expenditure across Ministries, Departments and Agencies (MDAs) in the 2020 budget to the tune of N312.820 billion. The proposal, titled “2020 Capital Revised Adjustment,” was one of the highlights of the presentation of the Minister of Finance, …
Read More »Senate moves to legalize electronic transactions, criminalize online fraud
The Senate on Thursday considered a bill to provide enabling framework that would legalize all forms of electronic transactions undertaken in Nigeria. The bill, if passed and signed into law, will prohibit and criminalize online fraud, and also make it legally possible to admit evidence of electronic transactions between parties …
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