Senate Approves 2024-2026 MTEF, to Probe Tax Waivers from 2015 Senate has approved the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). The upper legislative chamber also ordered investigation into all tax waivers since 2015 and directed that waivers not directly linked to...

Senate Approves Tinubu’s Request to Borrow $7.8Bn, €100M After Approving N2.17trn The Nigerian Senate has approved the sums of 7.8 billion dollars and 100 million euros in President Bola Ahmed Tinubu’s proposed 2022–2024 borrowing plan. The president had written to the Senate requesting consideration and early...

Tinubu Seeks Fresh Approval of $7.8bn, €100m Loans President Bola Tinubu has approached the Senate for the approval of another $7.8bn and €100m loans, barely 24 hours after seeking approval of the N2.18tn supplementary budget. The request of the President was contained in a letter to...

In Three Years, Nigeria Lost N2.9trn to Contracts, Procurement Fraud - EFCC Boss The newly appointed chairman of the Economic and Financial Crimes Commission, Ola Olukoyede says tax payers lost N2.9trillion in just two years (2018 -2020) to contracts and procurement fraud alone. The Senate confirmed...

Senate Appoints Committee Chairmen on Power, Foreign Debts, Appropriation, 71 Others The Senate has unveiled the chairmen of its 74 full-standing committees. The committee chairmen that were announced on Monday include; Abaribe Eyinnaya, Power; Solomon Adeola, Appropriation; and Aliyu Wammako, Local and Foreign Debts. Others are Constitutional...

Senate Investigates Development Bank Loan Disbursement of N483 billion The Senate has revisited an alleged uneven disbursement of intervention loans to the tune of N483bn by the Development Bank of Nigeria shared among the six geopolitical zones in the country. The Senate in a bid to...