Reps Concur With Senate, Extend Limit On CBN Loans   The House of Representatives has approved an amendment to the Central Bank of Nigeria Act, raising the ceiling of Ways and Means advances from the apex bank from 5 to 15 per cent. The House gave the...

NDDC Applauds Reps For Approving N876bn Budget   The Niger Delta Development Commission (NDDC) has commended the House of Representatives for passing the N876bn of the commission for the 2023 financial year. Speaking in an interview at the NDDC headquarters in Port Harcourt, the Managing Director, Dr...

Reps Summon NIMASA DG, Halt $700m Cabotage Fund Disbursement   The House of Representatives has directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to stop the planned disbursement of the $700 million Cabotage Vessels Financing Fund (CVFF). The lawmakers adopted a motion on matters of urgent...

Malami to Reps: $2.4bn Diversion Claim Baseless, Lacks Merit   The Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), has told the House of Representatives that the allegation that 48 million barrels of crude oil valued at over $2.4bn were sold to...

Reps Summon Finance Minister, AGF, Others Over $2.4bn Illegal Crude Oil Sale, Whistleblower Policy   Members of the House of Representatives ad-hoc committee investigating alleged loss of over $2.4 billion in revenue from illegal sale of 48 million barrels of crude oil export from 2015 till...

Alleged N20bn Diversion: Reps Probe NNPCL Officials The House of Representatives, on Thursday, set up an ad hoc committee to investigate the Nigerian National Petroleum Company Limited over the alleged diversion and conversion of N20bn by its officials in the guise of payment to consultants. This...