…Windfall tax on FX gains will significantly reduce banks’ loan credit, profits – Moody’s The Nigerian Senate has approved an amendment to the 2023 Finance Act, raising the windfall levy on banks’ foreign exchange revaluation gains from the initially proposed…
In a bid to tackle saboteurs in the petroleum sector, the Nigerian Senate on Monday inaugurated the Ad-hoc committee to investigate the alleged economic sabotage in the petroleum sector. Senate President, Godswill Obot Akpabio while reading riot act to saboteurs,…
The Senate has rejected a bill seeking to establish the National Road Transport Council in Nigeria. The bill sought to establish an agency that will be saddled with the responsibility of regulating the road transport and the transportation profession in…
The Senate has passed for second reading a bill that seeks to provide a comprehensive legal framework for the regulation and supervision of all manner of insurance businesses in Nigeria. The Nigeria Insurance Industry Reform Bill, 2024 sponsored by the…
…Seeks to tax FX gains by banks in proposed amendment to finance act By Seun Ibiyemi President Bola Tinubu on Wednesday forwarded to the Senate for consideration and approval a request for the injection of N6.2 trillion into the N27.5…
The Senate has urged the Federal Capital Development Authority (FCDA) and Abuja Municipal Area Council (AMAC) to offer the Karu Market shops when rebuilt to the victims at a subsidised and affordable rate. This, the upper chamber said was in…
The Senate has called for improved budgetary provision for the Securities and Exchange Commission (SEC). The upper chamber said that the N22.40 billion for the commission’s 2024 budget was inadequate given the important role the commission plays in the nation’s prosperity. The Chairman…
The Senate has asked the Federal Government to halt the winding down of the National Film and Video Census Board (NFVCB), citing a breach of the law. This resolution was reached following a debate on the motion ” Urgent Need…
…Extends probe panel’s deadline by two months The Senate has approved an additional two months for the Ad-hoc Committee investigating the N30 trillion Ways and Means facilities granted to the Federal Government by the Central Bank of Nigeria (CBN) between…
The Senate hon Thursday sought the inclusion of the Mambila Hydroelectric Power Project in the Renewed Hope funding. It equally urged its committee on Finance and Appropriation to liaise with the Ministry of Finance to ensure the funding of the…
