Author: Hamza Rufai

THE Senate leadership has directed its Committee on Finance to suspend further action on the proposed tax bill pending the outcome of a high-level meeting with the Attorney General of the Federation (AGF). The Deputy senate president, Sen. BARAU Jibrin who made the announcement today during plenary disclosed that a special committee has been constituted to address contentious issues in the bill, with the meeting scheduled for tomorrow, Thursday, Dec 5th. The decision follows a series of deliberations by lawmakers aimed at resolving disagreements over key provisions in the proposed legislation. The contentious areas have sparked debates among stakeholders in…

DEPOSIT Money Banks in the Federal Capital Territory have increased their maximum over-the-counter withdrawal limit to N50,000 per day, findings by this newspaper have shown. A survey conducted by our correspondent on Tuesday revealed that banks, including Guaranty Trust Bank and Zenith Bank, have increased the withdrawal limit, enhancing it from N10,000 that was allowed to customers last month. At the GTBank branch located along the airport road, customers were allowed to withdraw N50,000 over the counter but a limit of N20,000 at its Automated Teller Machines. An official who spoke to our correspondent said the bank is now in…

THE green chamber experienced a rowdy session when a member of the house from Ekiti state, Akin Rotimi, touched on the controversial tax reform bills. The lawmaker in moving a motion for consideration of two reports had introduced himself as being from Ekiti state, the first state to adopt the tax reform bills. Rotimi chose to inform his colleagues about the stand of Ekiti federal lawmakers on the controversial four tax bills transmitted to the parliament on September 3, 2024. He said, Mr Speaker, I am from Ekiti State, the first state whose National Assembly caucus has unanimously endorsed the…

THE House of Representatives has urged the Ministry of Marine and Blue Economy, and the Ministry of Transportation to conduct a thorough investigation into recent boat mishaps in Nigeria. This is sequel to a motion of urgent national importance drawing attention to the recent boat mishap in Kogi state involving over 160 passengers, with only 24 rescued, approximately 54 confirmed dead, and an unknown number still unaccounted for. Honourable Unyime Idem who moved the motion, expressed worry that the recent surge in boat accidents has raised concerns about the safety of Nigeria’s waterways and the need for urgent intervention. The…

THE Governor of Nasarawa State, Abdullahi Sule, has said that it is wrong to say that governors of the 36 states are against the Tax Reform Bills, explaining that they only wanted to get clarifications in some areas. Speaking during Channels Televisions Townhall on the Tax Reform Bills on Monday monitored by News Point Nigeria, the governor hailed the bills but stated that there are questions that needed answers. “The issue of increasing the VAT from 20 per cent to 60 per cent at the point of generation, and I am happy that Taiwo said it has now changed not…

BARRING any last-minute change of plan, the workers in the Federal Capital Territory, Cross River, Nasarawa, Ebonyi, Kaduna and Zamfara states may down tools on Monday (today) following the failure of the state authorities to negotiate the payment of the N70,000 new minimum wage. Though the implementation panels set up by the concerned states have been meeting with labour leaders in a bid to ward off the strike action, the various state chapters of the Nigeria Labour Congress have expressed their readiness to embark on a strike from today. The FCT Council of the NLC had earlier directed the workers…

THERE are strong indications that the planned December 1 strike called by the Nigeria Labour Congress may suffer a setback following the declaration by some state chapters of the union that they will not be part of the proposed industrial action. President Bola Tinubu had in July approved a new minimum wage of N70,000 for Nigerian workers, including civil servants, and pledged to review the wage every three years. Many states agreed to pay above the N70,000 minimum, with Lagos and Rivers states offering the highest pay of N85,000. However, 13 states and the Federal Capital Territory have yet to…

THE Nigeria National Petroleum Company Limited (NNPCL) says the Port Harcourt Refining Company (PHRC) has not yet commenced bulk sales or opened its purchase portal, as essential processes are still being finalized. NNPCL Chief Corporate Communications Officer, Olufemi Soneye, disclosed this in a statement on Friday. He stated that the products the refinery current sells originate from the Dangote Refinery and it include applicable fees by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). “Products from PHRC are exclusively for our retail stores at this stage. Our pricing is reviewed and adjusted periodically as necessary to reflect operational realities,”…

THE National Hajj Commission of Nigeria (NAHCON) has stated that N4.47bn has been refunded to States’ Pilgrims’ Welfare Boards, the Federal Capital Territory (FCT) and the Armed Forces for services not rendered properly by the Saudi Authorities during the 2023 Hajj exercise. A statement by the commission added that N917.14m was also refunded to 192 accredited Tour Companies that participated in the 2023 Hajj. The statement said the refund was for onward disbursement to their respective pilgrims, while the remaining participating companies would also be refunded after due reconciliation. “This refund underscores NAHCON’s commitment, under the leadership of its Chairman/CEO,…

THE Acting Chief of Army Staff, Olufemi Oluyede, has pledged to bring lasting peace to the country if confirmed in a substantive position. He said this when he appeared before the House of Representatives Joint Committee on Defence and Army at the National Assembly Complex in Abuja on Wednesday. He stressed that the security environment in the country today requires a united effort on the part of every Nigerian. He also called for strong bilateral and multilateral alliances with neighbouring countries, as well as deep collaboration and joint efforts by the services and other security agencies. He said, “I am…

THE Senate on Wednesday protested entry of the Federal Inland Revenue Service (FIRS) Chair, Zacch Adedeji and consultants to the Senate. This was after the Upper Chamber suspended its rules to admit Adedeji and the consultants to explain what the Tax Reform Bill entailed. However, before they were admitted, a slight uproar ensued as some lawmakers kicked against the FIRS Chair’s entry to the chamber. Sen.Ningi and Ndume raised an objection over the senate’s decision to suspend the business of the day and entertain a separate matter, in spite of its validity. According to the visibly angry senator, “The order…

THE Chairman of the Academic Staff Union of Polytechnics (ASUP), Kaduna Polytechnic Chapter, Comrade Abubakar J. Abdullah, says the union will shut down all polytechnics nationwide by December 2 due to the Federal Government’s failure to meet its members’ demands. According to him, on October 6, 2024, the union leadership issued a 15-day ultimatum to the Federal Government, outlining pressing demands aimed at resolving the systemic challenges that hinder the progress of polytechnics. He added that the government had failed to address the issues. Speaking at a news briefing on Tuesday in Kaduna, the chairman listed some of the demands…

THE Senate has acknowledged an error in its earlier resolution advising President Bola Tinubu to remove Umar Danladi as chairman of the Code of Conduct Tribunal over allegations of corruption and misconduct. The upper chamber however, insisted that it does not invalidate their decision to sack the CCT Chairman. Last Wednesday, the Senate led by the Majority Leader, Opeyemi Bamidele, invoked Section 157 (1) of the Nigerian Constitution as the legal basis for the resolution. That section, however, pertains to the removal of specific public officials, not the CCT chairman. During plenary on Tuesday, the Senate Leader admitted what they…

THE Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the Nigerian government needs more borrowings to fund its budget even though some Ministries, Departments and Agencies have surpassed their revenue target. Edun said this during an interactive session of the Senate Joint Committees on Finance and National Planning and Economic Affairs on the 2025-2027 Medium-Term Expenditure Framework/Fiscal Strategy Paper. According to him, the borrowing needs to be done productively and efficiently based on the Senate’s approval for proper funding of the budget. “The revenue effort has been good, but we still need to do better, and…

THE Chairman, Senate Committee on Media and Publicity, Senator Yemi Adaramodu, has said the National Assembly will conduct open debate on the President Bola Tinubu’s tax reform bills before it for Nigerians’ input. Adaramodu, who said the majority of those criticising the bills in the media had not seen it and acting based on the belief that anything tax was to place a burden on people, said, “I don’t see anything retrogressive in the tax reform bills.” The senator representing Ekiti South Senatorial District spoke to journalists at his Ilawe Ekiti hometown on Saturday evening after the Ilawe Unity Day…

THE Nigerian National Petroleum Company Limited and major oil marketers are currently engaged in discussions on strategies to eliminate the importation of petrol into the country, with a focus on increasing reliance on off-taking from the Dangote Refinery. This was part of the discussions at a meeting organised by the NNPCL Group Chief Executive Officer, Mele Kyari, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority. In attendance were representatives of the Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association of Nigeria, and key stakeholders from companies such as 11 Plc, Matrix, and AA Rano, among…

THE Corporate Affairs Commission (CAC) has removed over 80,000 companies from its register for failing to file annual returns for a decade. This action followed a three-month grace period granted in July 2024, during which affected companies were advised to update their records to avoid delisting. The CAC said it had deleted the companies who had failed to update their annual reports. The statement said, “The general public may recall that the commission issued Notice of Intention to strike off names of companies which the commission has reasonable cause to believe are not carrying out business or are otherwise dormant…

THE Supreme Court has struck out a suit by the 36 state governments seeking to among others, compel the Federal Government to account for its earnings from the sale of liquefied natural gas, natural gas liquids and related products since 1999. In a unanimous judgment, a seven-member panel of the court, presided over by Justice Uwani Abba-Aji held that the court lacked the original jurisdiction to hear and determine the suit, which has the Attorney General of the Federation (AGF) as the sole defendant. In the lead judgment, Justice Mohammed Lawal Garba upheld the preliminary objection raised against the suit…

THE North Central caucus of the Peoples Democratic Party has expressed opposition to the indefinite postponement of its 99th National Executive Committee meeting, which was initially set for November 28. In a statement on Thursday, the Peoples Democratic Party, through its National Secretary, Senator Samuel Anyanwu, explained that the 99th National Executive Committee meeting was postponed due to the funeral of Patience Umo Eno, the late First Lady of Akwa Ibom State and wife of Governor Umo Eno. It was previously reported by this newspaper on Tuesday that the PDP acting National Chairman, Umar Damagum, with the support of former…

A BILL for an Act to alter the provisions of the Constitution to create a single term of six years for the office of president and state governors has failed in the House of Representatives. The bill sponsored by Honourable Ikenga Ugochinyere sought to recognize the division of Nigeria into the six geopolitical zones, provide for the rotation of the office of president, state governor and chairmen of a local government councils among the Inherent regions and zones. The bill also sought to make it possible for all elections in the country to be held on a single day. When…