Reps Order Remita to Refund N182bn to FG The House of Representatives has ordered financial technology firm, Remita, also known as SystemSpecs Ltd, to refund a total of N182.77bn withheld from the Treasury Single Account since 2015 to the Federal Government following a forensic audit...

Reps to Probe N1.24tn Sukuk Road Projects Funds The House of Representatives on Wednesday resolved to probe Sukuk backed road projects valued at about N1.24tn raised In the past seven years (2017- 2024). The resolution of the House followed the adoption in plenary of a motion...

Reps Peg VAT at 7.5%, Adopt Tax Reform Bills  The House of Representatives on Thursday considered and adopted the four tax reform bills. The bills were adopted after a clause-by-clause consideration and approval at the Committee of the Whole, chaired by the Speaker, Abbas Tajudeen. With the...

Reps Move to Restrict Foreign Vessels in Domestic Coastal Activities The House of Representatives has taken steps to strengthen Nigeria’s shipping sector with a proposed amendment to the Coastal and Inland Shipping (Cabotage) Act, 2003 to restrict operations of foreign vessels in domestic coastal activities. The...

Reps Pass Nigerian Insurance Reform Act for Legal, Legislative Framework  The House of Representatives on Wednesday enacted the Nigeria Insurance Industry Reform Act, 2024, to provide for a comprehensive legal and regulatory framework for insurance business in Nigeria. The new Act repealed the Insurance Act, Cap...

Reps Direct CBN to Suspend ATM Charge Hike The House of Representatives has called on the Central Bank of Nigeria to suspend the implementation of the increment in Automated Teller Machine transaction charges given the economic situation in the country. The decision of the House was...