A new bill aimed at banning the use of foreign currencies, including the US Dollar and British Pound Sterling, for domestic transactions in Nigeria has passed its first reading in the Senate. The bill, titled “A Bill for an Act to Alter the Central Bank of Nigeria Act, 2007, No. 7, to Prohibit the Use…
The Nigerian Senate has directed its Committees on National Security and Intelligence, Livestock and Agriculture to collaborate with the federal government on establishing modern ranches across the country to curb insecurity. The Senate also resolved to introduce legislation that would regulate the movement of cattle from neighbouring countries into Nigeria. This follows a motion by…
The Senate President Godswill Akpabio on Wednesday, December 11, declared the seat of Monday Okpebholo, who represented Edo Central Senatorial District, vacant. Okpebholo contested for the Edo State governorship seat on September 16, and won under the platform of the All Progressives Congress (APC) The Senate President also called on the electoral body, the Independent…
All senators from the south-south geopolitical zone in the 10th Senate have endorsed the tax reform bills currently under consideration by the National Assembly. In a communiqué released in Abuja, the senators also expressed unwavering confidence in Senate President Godswill Akpabio. Their support for the Tax Bills came amid resistance from certain quarters calling for…
GISTSMATE MEDIA reports that the Senate has suspended action on the tax reform bills currently before it. It further instructed the Committee on Finance to stay action on the public hearing pending the time the agitation in the public space is addressed. The Senate further constituted a special committee to meet with the executive branch…
GISTSMATE MEDIA reports that the Senate on Tuesday confirmed Lt.- Gen. Olufemi Oluyede, as the substantive Chief of Army Staff (COAS). This was sequel to the consideration and adoption of a report of the Senate Committee on Army, presented by its chairman, Senator Abdulaziz Yar’adua (APC, Katsina), after screening the army chief. Recall that President…
GISTSMATE MEDIA reports that the Nigerian Senate has passed the Tax Reform Bills proposed by President Bola Tinubu. The bills, which were presented by Senate Leader Opeyemi Bamidele, were passed after a closed-door session that lasted over an hour. The Tax Reform Bills are aimed at overhauling Nigeria’s tax system to drive revenue generation, simplify…
There was a mild drama Wednesday at the National Assembly, Abuja, as the Senate attempted to allow members of President Bola Tinubu’s economic team into the chamber. The Senate Leader, Opeyemi Bamidele (APC, Ekiti Central), had moved for suspension of Order 12 to allow for visitors into the chamber. Bamidele said, “Tax experts and consultants…
Senate Majority Leader, Opeyemi Bamidele has denies reports that he was involved in a fight with Senate President, Godswill Akpabio. On Wednesday, a report by Controversial Journalist, Jackson Ude, alleged that Bamidele and Akpabio exchanged heavy punches with each other at the Senate Cafeteria. In a swift reponse, Bamidele urged the general public to ignore…
The Senate on Thursday, November 21, approved President Bola Ahmed Tinubu’s request for a new eternal borrowing of N1,767,610,321,779.00 or (USD2.209billion in the 2024 Appropriation Act. The resolution of the Senate followed its consideration of the report of the Senate Committee on Local and Foreign Debt and the approval of its recommendations by the Senate…