The Senate has approved President Bola Tinubu’s request to sack the Federal Competition and Consumer Protection Commission (FCCPC) Executive Vice Chairman, Barrister Babatunde Irukera. In a letter read at the plenary on Wednesday by Senate President Godswill Akpabio, President Tinubu said that he was demanding Irukere’s based on inefficiency. According to the FCCPC Act, the President needs the approval of …

The Senate on Tuesday proposed a six-year single term for the Governor and Deputy Governors of the Central Bank of Nigeria (CBN). The Red Chamber also sought to limit the amount the Federal Government can borrow from the apex bank under the Ways and Means Advances. For external Directors appointed on the board of the CBN, the Senate proposed that …

The Senate, on Thursday, passed the Bill seeking the establishment of the South East Development Commission. The commission is to be charged with the responsibility of receiving and managing funds from the Federation Account for the reconstruction and rehabilitation of roads, houses, and other infrastructural damages suffered by the region as a result of the effects of the civil war. …

The Senate has resolved to investigate the sudden hike in the price of cement by its producers in Nigeria. This followed the adoption of a point of order by the Deputy Senate Leader, Sen. Lola Ashiru on the “Need to Urgently Address the Increase in Cement Price and other Building Materials in Nigeria”, at plenary on Wednesday. Presenting the order, …

The Senate Committee on the review of the 1999 Constitution has promised to complete the process in 24 months. The Chairman of the Committee, Sen.Barau Jibrin, said this at the inaugural meeting of the committee on Wednesday in Abuja. “It is important to note that the Committee is not constituted to rewrite the 1999 Constitution but to process proposed amendments …

The Senate has kicked against the plans by the Ministry of Power to increase electricity tariff. The Senate also rejected plans to remove subsidy from electricity given the present hardship in the country. The resolution of the Senate followed its consideration and approval of a motion moved by Senator Aminu Abbas (PDP, Adamawa Central) during plenary on the need to …

The Senate on Tuesday resolved to probe how the N30 trillion Ways and Means loans of the Central Bank of Nigeria (CBN) was obtained and spent by the administration of former President Muhammadu Buhari. Ways and Means is a loan facility through which the CBN finances the government’s budget shortfalls. The senate stated that the reckless spending of the overdraft …

President Bola Tinubu has asked the Senate to confirm the Governor of the Central Bank of Nigeria (CBN), Dr. Yemi Cardoso, as the chairman of the Monetary Policy Committee (MPC) of the apex bank. The newly constituted MPC will hold its first policy meeting under Cardoso, between 26th and 27th February. The appointment was contained in a letter from Tinubu …

The Nigerian Senate has criticised international oil companies for not investing in the petrochemical industry. The Chairman of the Senate Committee on Local Content, Senator Natasha Akpoti-Uduaghan said that the committee would invite the international oil companies on the need to invest in petrochemicals. Petrochemicals refer to a wide range of other products made from petroleum, including plastics, fabrics, fertilisers, …

The Senate has assured that the much-awaited population and housing census slated for November this year will hold as scheduled. Speaking yesterday in Abuja during the screening of 17 of the 19 commissioner-nominees for the National Population Commission (NPC), the Chairman of the Senate Committee on National Identity and Population, Senator Abdul Ningi (PDP, Bauchi Central), noted that coincidentally, most …