Senate Investigates N1.8trn Spent On Power Sector Intervention   The Senate Committee on Power said on Thursday that it had concluded plans to execute a three-day investigative hearing on the operations of the power sector since privatisation in 2013. Specifically, the panel said it had the mandate...

Senate Queries CBN Over $3.3bn Unremitted Foreign Tax     The Senate has queried the Central Bank of Nigeria over alleged unremitted $3.3bn from the $21.3bn collected by the Federal Inland Revenue Service as foreign tax in 2015. The Public Accounts Committee of the red chamber issued the...

Senate Queries NNPC For High Cost Of Oil Production     Members of the Senate Committee on Finance on Monday queried the Nigerian National Petroleum Corporation (NNPC) over what they described as “very high cost of oil production in Nigeria”. The Senators made this known while hosting the...

Senate Okays Buhari’s N850bn Loan Request     Without a voice of dissent, the Senate on Tuesday gave accelerated approval to the request by President Muhammadu Buhari to take a fresh loan of N850 billion from the domestic capital market. The approval came in less than five minutes...

Covid-19: Cut N10.59trn Budget, Target Overhead, Says Senate   The Senate declared on Tuesday that the downward review of the N10.59tn 2020 federal budget had become inevitable in view of the current global economic downturn occasioned by the outbreak of coronavirus pandemic. The red chamber made the...

Senate Investigates Banks Over Withholding Tax Remittances     The Senate on Tuesday mandated its committee on Banking, Insurance and other Financial Institutions to investigate allegations of non-remittance of withholding taxes collected by banks to state governments. The red chamber also asked the panel to ensure the recovery...