Senate probes Nigerian banks over illicit, excessive charges

CBN condemns airlines, shipping firms for violating export procedures

The Nigerian Senate has directed its Committee on Banking, Insurance and Other Financial Institutions to investigate allegations of illicit and excessive charges by deposit money banks in the country. The Senators also urged the Central Bank of Nigeria (CBN) to look into complaints of Nigerians in this regard, and possibly review downward all bank charges on account holders. The resolutions followed the consideration of a motion sponsored by Senator Patrick Abba Moro, who noted several complaints from Nigerians over illicit and excessive charges by Nigerian banks on their customer accounts.…

Read more

National Assembly shifts PIB deliberations to 2021 –National FG

NASS, 2021 Budget

Deliberations on the Petroleum Industry Bill (PIB) by the National Assembly has been shifted to the first quarter of next year, the Minister of State for Petroleum Resources, Timipre Sylva, has said. At the sidelines of the Joint Executive-Legislature Leadership Retreat at the Presidential Villa Banquet Hall in Abuja, Sylva told journalists that the National Assembly said they need to work on the 2021 Appropriation Bill. This, according to him, was one reason why deliberations on the PIB had to be shifted, adding that the lawmakers explained that the 2021…

Read more

Buhari to lay N12.65trn 2021 budget before NASS next week

NASS, 2021 Budget

President of the Senate, Ahmad Lawan, on Tuesday, announced that President Muhammadu Buhari would present the 2021 budget estimates to a joint sitting of the National Assembly next week. Welcoming lawmakers back from the Senate’s annual recess, Lawan commended the Joint Committee on Finance and National Planning for the comprehensive legislative work on the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper. Recall that the Federal Government had last month announced plans to spend a record N12.65tr in 2021, despite the severe revenue constraints characterized by low crude oil…

Read more