Senate Says No Capital Allocation For MDAs Without Revenue Projections           The Senate has threatened to reject the capital and overhead proposals of federal ministries, departments and agencies which failed to accompany their 2022 budget estimates with revenue projections for the fiscal year. The red chamber said...

Remittances: Senate Accuses NNPC, CBN, Others Of Underpayment       The Senate on Wednesday accused Government Owned Enterprises of worsening the current dwindling revenues in the country by engaging in spending spree instead of remitting the appropriate funds into the federation account. The Chairman of the Senate Committee...

Senate Probes NNPC’s Alleged Failure To Remit 10-year Stamp Duty       The Senate has launched a large-scale probe into the alleged non-remittance of the one per cent stamp duty on contracts awarded by the Nigerian National Petroleum Corporation from 2010 to 2020. The Committee on Finance, which...

Senate Moves To End MDAs Frivolous Spending         The Senate on Monday stated its commitment to amend the Fiscal Responsibility Act this year. The Chairman, Senate Committee on Finance, Senator Solomon Adeola, stated this on Monday at an investigative hearing undertaken by his panel with federal ministries...

Govt-owned Agencies Didn’t Remit N2trn To Federation Account - Senate       The Senate Committee on Finance has raised the alarm that some government-owned agencies has failed to remit over N2tn to the federation account from 2014 till date. The Chairman of the Committee, Senator Solomon Adeola, stated...

Senate Approves N216.646bn FIR's 2021 Budget       The Senate has approved N216, 646, 579, 231.00 as 2021 budget for the Federal Inland Revenue Service (FIRS). The Senate also approved the upward review of the revenue target of FIRS from N5.076 trillion last year to N7.61 trillion this...