Senate Begins Probe On N14.7bn PHCN Privatisation Fund In Secret Accounts     The Senate Committee on Public Accounts has begun investigation of N14.7bn proceeds of privatisation of the defunct Power Holding Company of Nigeria allegedly hidden in commercial banks by the Bureau of Public Enterprise. The committee...

Senate Probes BPE, Alleges Unremitted $679.4m Rent On Ports’ Concession   The Senate Committee on Public Accounts has begun an investigation of the Bureau of Public Enterprises for allegedly failing to remit $679.4m realised from the concession of various ports to 23 companies the Nigerian Ports...

NASS To Transmit N17trn Budget To Buhari Today – Lawan   The President of the Senate, Ahmad Lawan, says the National Assembly will on Thursday transmit the 2022 Appropriation Bill to President Muhammadu Buhari to sign into law. Lawan gave the hint on Wednesday in his remarks...

Senate Approves Buhari’s Request On Fresh $5.8bn Borrowing   The Senate, on Wednesday, approved the request by President Muhammadu Buhari for loans totalling $5,803,364,553.50 and a grant component of $10m under the 2018-2020 External Borrowing (Rolling) Plan of the Federal Government. The approval followed the consideration and...

Finance Bill Makes TIN Mandatory For Banks’ Account Holders     The Finance Bill 2021 has made it mandatory for commercial banks to demand Tax Identification Number from any individual seeking to open an account with them. The bill also empowers banks to demand TIN from existing customers...

Senate Queries PEF’s N100m Interest On 2015 N34bn Fixed Deposit       The Senate has condemned the management of the scrapped Petroleum Equalization Fund for not remitting all the N182m interest that accrued from the N34bn in fixed deposit of some banks. The agency only remitted N82m without...