Tag Archives: Senate

The Senate on Tuesday confirmed Mr Olayemi Cardoso as Governor of the Central Bank of Nigeria, CBN. Other nominees who were confirmed as Deputies to Olayemi are: Emem Usoro, Muhammad Abdullahi-Dattijo Philip Ikeazor and Bala Bello. Their screening commenced after hours of closed-door meeting which was presided by the Senate President, Godswill Obot Akpabío, having resumed from a two month ...

The upper legislative branch, Senate was thrown into a rowdy session on Wednesday over the move by the Central Bank of Nigeria (CBN) to redesign the Naira notes. It will be recalled that the apex bank had  (CBN) announced the redesign of the N1,000, N500 and N200 notes. Also the apex bank had set January 31, 2023 as deadline for ...

The upper legislative chamber, the Senate on Wednesday passed a supplementary budget of N895.842 billion into law. The development follows a satisfactory report by Senator Jibrin Barau, Senate Committee Chairman on Appropriation. Barau has said that the supplementary budget would complement the effort of various government agencies to discharge their responsibilities. According to him,  security agencies will be able to ...

President Muhammadu Buhari on Tuesday urged the Senate to consider and approve N895billion as Supplementary Budget. Senate President Ahmad Lawan read Buhari’s letter of request on the floor at plenary. The Federal Executive Council (FEC) had earlier approved the amount. A substantial part of the fund has been earmarked for procurement of military hardware to prosecute the war against insurgency ...

Senate Committee on Public Accounts has given the Central Bank of Nigeria Governor Godwin Emefiele, 72 hours to appear it over the alleged missing of $9.5million interest that accrued from Petroleum Profit Tax (PPT) investment Chairman of the Committee, Senator Matthew Urhoghide, had noted that both the rate of interest were done covertly. According to Urhoghide, there were many issues ...

The Senate has mandated its Committees on Banking, Insurance and Other Financial Institutions, ICT and Cybercrimes and Capital Market to invite the Central Bank of Nigeria, Governor, Godwin Emefiele to clarify controversies surrounding the cryptocurrency operations.. The Senate also invited the Director-General of the Securities and Exchange Commission (SEC), Lamido Yuguda to appear before it. The upper legislative chamber made ...

The Senate has approved that the nominees for the positions of Deputy Governor of the Central Bank of Nigeria and members of the Monetary Policy Committee be screened for confirmation. Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Rafiu Ibrahim, raises a point of order at the plenary on Tuesday to urge the lawmakers to lift ...

The Senate  on Tuesdayresolved to confirm the nominees of President Muhammadu Buhari for the Central Bank of Nigeria (CBN) including two Deputy Governors and the Monetary Policy Committee. The confirmation has been pending, since last year, over a remark by Vice-President, Yemi Osinbajo, on the acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu. The decision to rescind ...

The Senate has commenced investigation into why Nigerian banks no longer dispense lower Naira denominations. The Senate said if the situation was not remedied urgently, it may lead to total collapse of the economy. It has, therefore, mandated its Committee on Banking, Insurance and other Financial Institutions to carry out a holistic investigation into the matter, with a view to ...

Members of Youth Voice for Good Leadership and Accountability Initiative (YVGLAI), have called on the Senate to confirm appointment of board members for the Central Bank of Nigeria (CBN) in accordance with the Act establishing the apex bank. This was stated by their national coordinator, Nwokolo John, who said running the apex bank without its board members did not position ...