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Tag: Reps

  • Reps order arrest of three FCDA officials

    Reps order arrest of three FCDA officials

    The House of Representatives Committee on Public Petitions on Thursday asked the Inspector General of Police to effect the arrest of the Executive Secretary of the Federal Capital Development Authority (FCDA), Richard Dauda over refusal to honour its invitation over an alleged breach of building code in the federal capital territory (FCT).

    The House committee also ordered the arrest of the Director, Department of Development Control Muktar Galadima and the Director of Regional Planning of the FCT.

    The chairman of the committee, Mike Etaba who issued the order at the resumed hearing of the committee explained that the decision to issue the warrant of arrest was in tandem with the extant provision of the Legislative Houses powers and privileges Act 2017.

    The committee asked the IGP to not only ensure the arrest them, but compel them to appear before the committee on the 28th of March to explain their role on the committal of the alleged infraction.

    Etaba explained that he was left with no option after the FDA officials deliberately shunned the summon of the committee. 

    Etaba who later led members of the committee for on the spot assessment of the building site in Guzape disclosed that the FCDA officials would surely be compelled to produce documents required to ascertain the veracity of the claim of the petitioner.

    He said, “We had a petition that was brought before us by a Nigerian citizen and in the course of investigation, the FCDA has refused to come and tender documents necessary for us to proceed with this investigation. But for today, we have come to the site where the petition is referring to. 

    “We have looked at the building plans and the engineer in site who we met known as Mr. Emmanuel who we met told the committee that there is no approved building plan with him right now. We have looked at the structure, the land mark, the complain bybthe complainant who is a Nigerian and has a right to his security and safety. 

    Read Also: We are disappointed in malaria control programme implementation, says Reps committee

    “We have looked at it and we would go back to the committee and ask for more documents especially the approved plan so that the FCDA would be able to explain to us the guideline they gave for this building so that we can determine what is actually good for this site and let Nigerians living around here have their peace. We are here to do justice to everybody.

    The committee had at its proceedings on Tuesday adopted the petition on the issue regarding plot AO9399 cadastral zone filed by the Chairman of the House committee on Custom, Elder Leke Abejide.

    Counsel to Abejide, Samuel Ajayi said the petition before the House committee was in respect of the development on a property at AO9399 Cadestral zone, allegedly contravening the building code of the FCT. 

    “We have a complain in respect to a building going on there in Guzape which trespassed into the rights of my client. We are urging the appropriate authority to take appropriate step address the issue,” he said.

  • We are disappointed in malaria control programme implementation, says Reps committee

    We are disappointed in malaria control programme implementation, says Reps committee

    The House of Representatives Committee on HIV/AIDS, Tuberculosis, Leprosy, and Malaria Control on Thursday expressed displeasure over the implementation of the malaria control programme in the country.

    Speaking at an interactive session with the Minister of Health and Social Welfare, Prof Mohammed Ali Pate, chairman of the Committee, Amobi Ogah said the malaria control programme in the country was currently in a coma and needs an “ICU to resuscitate it.”

    The Abia lawmaker said Nigerians, both in urban and rural centres, continue to be impoverished as a result of the malaria epidemic, which has become the biggest source of out-of-pocket expenditure of our populace.

    He said the Malaria treatment should be made free at primary health care centres In Nigeria to ease the burden of Malaria in our country and for the subsidization of basic malaria drugs and consumables.m, saying, “We must work together to ensure we get it right and rid our country from all public health threats by 2030”.

    Ogah said the meeting became necessary to agree on priority areas that needed critical attention in the budget of the ministry and to be on the same page with the minister and the ministry and ensure that programs and projects relating to HIV/AIDS, Tuberculosis, Leprosy and Malaria are implemented seamlessly without any bottlenecks because they are critical to saving the lives of our people.

    He said members of the committee have always argued for increased domestic funding and less dependence on foreign funding for the nation’s health systems, especially given the withdrawal of financial support by the US Government towards funding for African Health systems.

    He said the Nigerian Government has equally risen to the occasion by allocating more resources to the fight against communicable diseases such as HIV, Tuberculosis and Malaria, thus, deciding the US Government a blessing in disguise.

    Read Also: UPDATED: Reps approve tax reform bills, set for passage

    He commended Prof Pate for his leadership, determination, and doggedness in making a case for increased funding for the health sector to the Federal Executive Council under the prevailing circumstances, which led to several funds being allocated to the health sector in recent times.

    According to him, this will certainly go a long way in plugging the funding gaps that the US Government decision has created.

    Ogah maintained that to engender a mutually beneficial relationship, there must be regular interactions, engagements, and collaboration between the Committee and the Ministry.

    He said the committee is interested in the short, medium, and long-term funding plans and the modalities for implementation by the Ministry in the fight against HIV/AIDS, Tuberculosis, and Malaria in Nigeria, following the recent injection of new funding to the sector.

  • UPDATED: Reps approve tax reform bills, set for passage

    UPDATED: Reps approve tax reform bills, set for passage

    The House of Representatives on Thursday moved a step closer to the eventually passage of the four tax retorm bills presented by President Bola Ahmed Tinubu to the parliament on the 8th of October, 2024 with the consideration and apprival of the report of the House Committee on Finance. 

    The four bill will now be read for the third time before eventual passage. 

    The bills included the Nigeria Revenue Service (Establishment) Bill, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, and the Joint Revenue Board (Establishment) Bill. 

    The four bills were read for the first time on the 8th of October 2024, but debate on the bills had been held back in the House due to disagreement by members on the content of the Nigeria Tax Administration Bill following objection by northern leaders and the Nigerian Governors Forum. 

    Presenting the report for consideration by members, Chairman of the House Committee on Finance, James Abiodun Faleke said all contentious areas of the bills were considered by the committee during a six day retreat and resolved, adding that the outcome of the retreat after the public hearing form the report considered. 

    The committee recommends the appointment of six Executive Directors for the Nigeria Revenue Service to be appointed by the President and one representative from the 36 states to ensure equitable representation. 

    He expressed concern that the definition of ‘tax’ as contained in the Bill may encroach on the revenue collection function of other agencies such as the Nigeria Customs Service.

    On Tuesday distribution of VAT revenue which has been one of the contentious issues, the House considered abd approved that a new basis for the distribution of the 55% and 35% respectively for State and Local Government allocation has be introduced. 

    He said 50 percent of the VAT revenue is to be distributed equally, 20% to be distributed based on population, and 30% to be based on consumption, adding that emphasis has also been placed on the actual place of consumption irrespective of where the VAT returns are filed.

    Faleke explained that emphasis should be placed on the place of consumption in the collection and distribution of VAT resources irrespective of where the tex was filed or where the headquarters of the company filing the return is located. 

    He stressed the need for stringent measures to ensure that those collecting VAT on behalf of the government remit same as against the recent trend where supermarkets collecting VAT remit less than 10 percent of what they collect. 

    The House also approved the recommendations that the President seeks and obtain the approval of the National Assembly to exempt any person or class of income/profits from tax, while the Accountant-General is to receive a resolution from the National Assembly in order to deduct any unremitted revenue due from MDAs. 

    Faleke said the committee proposed the replacement of the word ecclesiastical’ with ‘religious’ in the Nigeria Tax bill as the former is associated only with the Christianity and the latter is religion-neutral.

    He also said the Committee agreed to the deletion of the proposed re-introduction of inheritance tax under the guise of taxation of family income, as this oversteps divine jurisdiction which places inheritance matters within the scope of the Sharia and Customary Laws of the North and South respectively.

    The committee also proposed reduction of VAT rate to 5% or alternatively, maintain the current rate of 7.5% while also recommending for the re-instatement of contributions towards NASENI and NITDA, and a call to ensure continuous funding from the Development Levy.

    The House alsp considered and approved the recommendations to reinstate the need for a Certificate of Acceptance of Fixed Assets (CAFA), to claim capital allowance, as historically issued by the Industrial Inspectorate Department of the Federal Ministry of Industry, Trade and Investment. 

    Proposal for an introduction of a 1.5% service charge, based on the economic development tax credit, for companies operating in the priority sector.

    Faleke said oil and gas royalties will not be collected by the Federal Inland Revenue Service while the NUPRC will be restricted to operational matters since royalty is considered a form of tax, while also deleting the exemption and incentive clauses of the NEPZA and OGFZA Act while reverting to revert to the current provisions of the NEPZA and OGFZA Act, as well as the current practice of the enterprises within the free zone entities.

    Faleke also explained that the Committee proposed amendments to remove the staggered reduction in companies income tax rate from 30% to 27.5% in 2025 and 25% in 2026. Per the recommendation by the Nigerian Governors’ Forum, the tax rate of companies other than small companies remains 30%. The Committee further recommends that the tax rate of companies in the priority sector as should be reduced to 25% during the priority period of 5 years. 

    Faleke said part of the recommendations approved at plenary on Thursday including collecting taxes in the currency in which the taxes were accessed, saying there has been argument that when taxes are accessed foreign currency, they should be collected in naira. 

    He said “the committee agreed that taxes should collected in the currency in which it was accessed”

    He also disclosed that while the free trade zones were established as tax free zones for export production, companies operating in the zones have begun to import their produce into the Nigerian market in contravention of the rules. 

    Read Also: JUST IN: Reps approve tax reform bills, set for passage

    In the light of this, he said the committee recommended that such companies be allowed to import only 25 percent of the manufactured goods into the Nigerian market while the balance of 75 percent should be exported out of the country with evidence before they can enjoy the tax incentives. 

    He said further that the committee also recommend the period for filing tax return for companies wishing to wind up their operation be reviewed down ward from six months to three months. 

    He said “Amendments were made to this section to emphasise that only multinationals with a group aggregate turnover of at least £750m or its equivalent are subject to the global minimum tax, in line with global best practices.

    “The section was also amended to increase the qualifying threshold for minimum tax for resident from a turnover of ₦20 billion to ₦50 billion, as well as exclude free zone entities which export at least 75% of its goods and services, from the minimum tax regime.

    Furthermore, the net profit of life assurance companies to be considered for the minimum tax has been amended to exclude gross premium and investment income for policyholders.”

  • Reps pass Insurance reform bill, set minimum capital base 

    Reps pass Insurance reform bill, set minimum capital base 

    The House of Representatives on Wednesday passed the bill to reform the insurance sector in Nigeria, seeking the recapitalisation of insurance companies in the country, while providing stiffer penalties for defaulters. 

    The law, which recognise two classes of insurance in the country (life and non-life insurance), increase minimum capital requirement across the various classes of insurance. 

    The bill, when signed into law, will repeal the Insurance Act 2004, the Marine Insurance Act, 2004, the Motor Vehicle (third party insurance) Act 2004, the National Insurance Corporation of Nigeria Act, 2004 and the Nigeria Reinsurance Corporation Act 2004

    The bill which was passed by the Senate on December 17, 2024 will regulate the Insurance industry and protect the interest of policy holders, prospective policy holders and other stakeholders under insurance policies in a way that are consistent with the continued development of a viable competitive and innovative insurance industry. 

    It will also determine who carries out insurance business in Nigeria and requiring insurance operators, directors and management of insurance operators to meet certain suitability requirements. 

    The proposed law provides that anybody who wants to run an insurance business in Nigeroa must a minimum capital base stipulates for the segment or insurance. 

    For those involved in non life insurance business, the law puts the capital at N15 billion or a risk based capital to be determined by the commission, while for life insurance, the person must have a capital base of N10 billion or a risk based capital to be determined by the commission, and reinsurance attracts a capital base of N35 billion. 

    It said further that in determining the risk based capital required, the commission shall take into consideration the capital for insurance risk, market risk, capital risk and operational risk and apply such capital charges on assets and liabilities as shall be determined from time to time. 

    It defined capital charges as the proportion of capital required to take care of the potential deterioration not the economic value of an asset and the uncertainty in estimating liability due to the occurrance of an adverse event. 

    According to the bill, operating an unlicensed business on the country will attract a conviction of N25 million or two years imprisonment for an individual and N50 million or ab imprisonment of two years for a company or both. 

    It also empowers the National Insurance Commission to cancel the license of any iNsurance company that failed to conduct insurance business in accordance with sound insurance practice or failed to satisfy the capital or solvency requirements as prescribed by the commission or has ceased to carry on the business of insurance and the primary purpose for which it was registered for at least one year in Nigeria. 

    Other conditions listed in the bill for cancellation of a license include having a judgement debt in relation to a judgement obtained against it from a court of competent jurisdiction in Nigeria and remain unsatisfied for 90 daysboe is carrying on simultaneously the insurance business with any other business which is detrimental to its insurance business. 

    Refusal to submit to an examination not it’s books as provided in the bill, failure to comply with the provisions of the bill relating to filing of returns with the commission, failure to maintain adequate reinsurance arrangements and treaties in respect of the category of insurance business which the insurer or reinsurance is authorised to transact are other conditions for the revocation of license. 

    According to the law, no insurance company is allowed to open or close any branch office or representative office anywhere within or outside the country without prior approval of the commission, adding that any insurer intending to close any of its branches or subsidiaries shall give notice in writing to the commission of its intention at least six months before the date of intended closure. 

    The law also state that anybody intending to commence insurance business in Nigeria after the commencement of the law shall deposit the equivalent of 50 percent of the minimum capital requirements with the Central Bank of Nigeria, adding that failure to deposit the statutory deposit shall constitute a ground for cancellation of the license. 

    Upon registration as an insurer, it said 80 percent of the statutory deposit shall be returned with interest not later than 60 days after registration, while in the case of an existing company, an equivalent of 10 percent of the minimum capital stipulated in section 15 shall be deposited with the Central Bank of Nigeria. 

    The law however empower the commission to approve the investment of the statutory deposit in treasury bills or other secured investment guaranteed by the Federal Government, while any withdrawal from the statutory deposit shall be made good within 30 days, failure which shall constitute a ground of suspension from business. 

    The law also says that no insurer shall appoint or change its principal officers except with the prior written approval of the National Insurance Commission, adding that insurer is expected to notify the commission of any change due to death, dismissal, redundancy or resignation of any of its principal officers. 

    Clause 35 of the bill states that an insurer shall not declare or pay dividend on nuts shares until all its preliminary expenses, organisationak expenses, commission, brokerage, amount of loses incurred and other capitalise expenses not represented by tangible assets have been completely written off. 

    It also said that “not withstanding the provisions in any other law, any amount payable as retirement life annuity including interest, dividends, profits, investment thereunder shall not be subject to tax and levies in any form. 

    The bill imposes a fine ot N500, 000 on anybody acting as an insurance agent without being licensed or an imprisonment ot six months, and a fine of N10 million and N5 million on companies and individual respectively acting as insurance brokers without being registered to do so. 

    Read Also: Reps stop CBN’s new charges on ATM

    In addition, it states that “a person shall not construct or cause to be constructed any building of more than one floor without insuring his liability in respect of the construction risks that may be caused by his negligence not the negligence of his servants, agents, consultants or public authority which may result in bodily injury or loss of life to any person or workman working on the site or any member of the public”.

    It also provide for insurance of all public buildings, government assets and employees, petroleum and gas stations and products in transit, import goods and machandise, professional idemnity for health care providers, among others. 

    It provides a penalty of N250, 000 or an imprisonment of 12 months or both for failure to have a third party motor vehicle insurance. 

    The law said “in relation to a vehicle carrying passengers for hire or reward, every fare paying passenger in the vehicle shall be insuree by the operators of the vehicle against death or bodily harm” while also providing for a. Compensation of up to N2 million or such higher sum as the commission may specify in respect of death or permanent disability. 

    Clause 99 of the bill establishes a Road Accident Victims Compensation Fund into which 0.5 percent of underwriting profit on motor insurance business shall be paid as well as a committee to oversee the management. 

    The law also establishes the Insurance Policy Protection Fund into which 0.25 percent of gross premium income of every insurer and re insurer shall be paid as well as 0.25 percent of balance standing in the security qbd insurance development fund as at 31st December of the preceeding year after meeting all financial obligations stipulated for the fund by the National Insurance Act for granted time being in force. 

  • Reps seek urgent measures against diphtheria, seek vaccination, awareness campaigns in schools

    Reps seek urgent measures against diphtheria, seek vaccination, awareness campaigns in schools

    The House of Representatives on Wednesday asked the Federal Ministry of Education to take immediate and decisive measures to strengthen health and safety protocols in all federal unity colleges, while addressing the situation at King’s College, Lagos. 

    Adopting a motion of urgent public importance sponsored by Akintunde Rotimi (APC, Ekiti), the House asked it’s Committees on Health and Basic Education to engage relevant agencies, including the NCDC, to assess and enhance infection prevention and emergency response measures in federal schools. 

    The House also asked the Federal Ministry of Health, the NPHCDA, and the NCDC to intensify diphtheria vaccination and awareness campaigns in schools across the country to prevent future outbreaks. 

    It also resolved to direct the Federal Ministry of Education to undertake an urgent and comprehensive review of health infrastructure in unity colleges and establish a clear and effective framework for responding to infectious disease outbreaks in educational institutions. 

    It said the NCDC should establish and implement a structured disease surveillance system within all federal unity colleges to ensure early detection and rapid response to infectious disease outbreaks. 

    It commended the Lagos State Government, the NCDC, and other health authorities for their swift and commendable response, and encourage continued collaboration between federal and state agencies to safeguard the health and well-being of students. 

    The House also said the Federal Government should provide appropriate compensation to the family of the deceased student, in recognition of the tragic loss suffered and the duty of care owed to students in federal institutions. 

    Leading debate on the motion, Rotimi expressed concern about the outbreak of diphtheria in the boarding house of King’s College, Victoria island Annexe in Lagos resulting in th death of a 12-yeas-old student and the hospitalization of several others.

    Rotimi said data from the Nigeria Centre for Disease Control (NCDC) Weekly Diphtheria Situation Report of 26th January, 2025, from week 19 of 2022 to week 04 of 2025, 24,804 confirmed cases of diphtheria were reported across 25 states in Nigeria. 

    Read Also: Reps stop CBN’s new charges on ATM

    He said out of the 24,804 confirmed cases reported in the Nigeria Centre for Disease Control (NCDC) Weekly Diphtheria Situation Report of 26th January, 2025, there were 1,269 fatalities across 18 states, with some states having as high as 80-83% Case Fatality Rate (CFR). 

    He said this unfortunate incident exposes significant lapses in infection prevention and control (IPC) measures in federal unity colleges and underscores the Federal Ministry of Education’s responsibility to ensure the health and safety of students In its institutions.

    He acknowledges the prompt intervention of the Lagos State Government in activating an Emergency Operations Committee (EOC), isolating and treating affected students, and initiating a mass vaccination campaign to contain the spread of the disease.

    He stressed the need for collaborative efforts of the Nigeria Centre for Disease Control (NCDC), the National Primary Health Care Development Agency (NPHCDA), and Lagos State in managing the crisis, while emphasizing the need for a comprehensive and proactive nationwide strategy for health and safety in schools. 

  • Seek alternative ways to resettle FCT indigenous people, Reps tell government

    Seek alternative ways to resettle FCT indigenous people, Reps tell government

    The House of Representatives on Tuesday asked the Federal Capital Territory Administration to seek alternative ways of resettling or integrating indigenous and others persons residing within the Federal Capital Territory. 

    Adopting a motion on notice sponsored by Gaza Jonathan Gwefwi (SDP, Nasarawa) the House ask the FCT Administration to formulate policies to guide the resettlement practices within the FCT. 

    Gbwefi recalled the initial misconception regarding the Federal Capital Territory as a no man’s land and Decree 3 of 1976, which created the Federal Capital Territory and provided for the resettlement of persons within the territory. 

    He explained that due to the high cost of implementation, the administration opted for part resettlement and integration. 

    Read Also: Reps to probe frequent vandalisation of oil pipelines

    He said most of the land, especially the portion known as the Federal Capital City has been provided with basic infrastructure, adding that in some of areas, like parts of Garki, Jabi, Dakibu, Mabushi and Guzape have areas of planned and unplanned settlements coexisting. 

    He said the indigenous people are gradually being choked out by urbanization, which is also destroying the cultural and historical heritage of the natives, while the same areas are currently turning into slums and safe havens for criminal activities. 

    He said further that the Department of Resettlement formulated five (5) resettlement policies and imitative at different times but have yielded little or no result, adding that if this trend is left unchecked, it can lead to serious problems in the future. 

  • Reps to probe frequent vandalisation of oil pipelines

    Reps to probe frequent vandalisation of oil pipelines

    The House of Representatives on Tuesday resolved to Investigate the state of oil and gas pipelines across Nigeria, including the causes and impacts of frequent vandalisation and operational failures. 

    The House therefore set up an ad hoc committee headed by Tijani Ghali (NNPP, Kano) to conduct the investigation and assess the adequacy of existing security and maintenance measures in safeguarding the nation’s petroleum infrastructure. 

    Adopting a motion of urgent public importance by Muhammed Bello Shehu the House asked the ad hoc Committee to examine the effectiveness of past and present government interventions aimed at protecting pipelines. 

    They are to liase with stakeholders in the industry, including the NNPCL, Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), National Security Agencies, oil companies, host communities, and civil society organisations. 

    Moving the motion co-sponsored by 14 other lawmakers, Shehu said l Nigeria’s oil and gas sector remains the backbone of the national economy, contributing approximately 9% to the Gross Domestic Product (GDP) and generating over 90% of export revenues. 

    Read Also: BREAKING: Reps ask NCC to block all pornographic sites in Nigeria

    He said the effective transportation of petroleum resources is dependent on the integrity of the country’s pipeline infrastructure, adding that between 2018 and 2023, Nigeria recorded over 7000 incidents of pipeline vandalism, resulting in the loss of $12.74 million worth of crude oil. 

    He disclosed that in October 2024, crude oil supply to Sheil’s Forcados Terminal was reduced by 50% due to sabotage, leading to loading delays and tne risk of force majeure declarations. 

    Shehu said “January 2025, a major pipeline spill from a facility owned by Shell’s Nigerian subsidiary caused environmental devastation in the Niger De’ta. worsening pollution and economic hardship for host communities. 

    “In February 2025, Shell reported an oi! spill near Por: Harcourt caused by an overflow during pipeline flushing operations, hichliotting ongoing risks in pipeline management. 

    “Recurrent pipeline breaches have led to extensive environmental degradation, loss of livelihoods, and substantial national revenue losses, f:rther straining the country’s economic and security landscape. 

    ‘The Niger Delta region has suffered from decades of oil spills, causing severe health hazards, destruction of farmlands, and contamination of water sources, thereby exacerbating poverty among local communities. 

    “The Nigerian National Petroleum Corporation Limited (NNPCL) has intensified efforts to combat crude oil theft, uncovering 19 illegal pipeline connections and 58 illegal refineries in a single week in January 2025. 

    “The deterioration of oil and gas pipeline networks not only threatens Nigeria’s energy security but also undermines the country’s potential for sustainable economic development.”

  • Reps committee submits report on Tax reform, ready for consideration

    Reps committee submits report on Tax reform, ready for consideration

    The House Committee on Finance on Tuesday submitted its report on the public hearing for four tax bills presented by President Bola Ahmed Tinubu for consideration.

    The bills, presented in October 2024 to reform the nation’s tax system and boost government revenue, have sparked widespread debate.

    Read Also: Reps: Seven oil firms to refund $37.4m to federation account before August

    Following a three-day public hearing, the expanded committee held a closed-door retreat at the Transform Hilton to refine public submissions before finalizing its report.

    Committee Chairman James Abiodun Faleke formally laid the report before the House during plenary. 

    However, while the bills are set for future consideration and passage, they have not yet been scheduled for debate, as they were absent from the week’s notice paper.

  • Reps demand Army’s report on Okuama killings, release of detained residents

    Reps demand Army’s report on Okuama killings, release of detained residents

    The House of Representatives on Tuesday called on the Nigerian Army to immediately release its investigation report on the killing of 17 soldiers in Okuama Community, Ughelli South, Delta State, on March 14, 2024.

    The House also urged the military to either release detained community members or charge them to court, while advocating for the reconstruction of homes destroyed in the aftermath of the incident.

    Moving the motion, Francis Waive (APC, Delta) recalled that the soldiers’ lifeless bodies were discovered in Okuama, leading to widespread destruction and mass arrests by the army.

    Waive lamented that despite assurances from the Chief of Defense Staff last year that the military knew the perpetrators, no arrests have been made, sending a troubling message about justice and accountability.

    Read Also: Reps: Seven oil firms to refund $37.4m to federation account before August

    He said several innocent indigenes of the community, including the President General of the community, Prof. Arthur Ekpekpo, Hon. Chief Belvis Adogo, Mr. Dennis Amlaka, Miss Owhemu Mabel, and Pa James Oghoroko, who died in custody, among others, were detained and have since been in detention. 

    He said, “This week marks the one-year anniversary of a tragic event, and the community members in the Army’s custody have not been taken to court or released on bail. 

    “The affected community requested that a judicial inquiry be made to look into the facts of the events, an option that was not considered. The Committee on Defense conducted an investigation into the matter, which the Army refused to participate

    “The Nigerian Army decided to conduct their own investigations, it is believed that by now, one year later, they should have had sufficient time to conclude investigations.”

  • Reps halt implementation of new CBN circular on ATM charges

    Reps halt implementation of new CBN circular on ATM charges

    The House of Representatives on Tuesday directed the Central Bank of Nigeria (CBN) to immediately suspend the implementation of increased ATM transaction charges and the removal of free ATM withdrawals for customers using other banks’ ATMs, as outlined in a recent circular by the apex bank.

    Adopting a motion of urgent public importance sponsored by Marcus Onobun (PDP, Edo), the House called for the suspension of the policy pending proper engagement with relevant House committees.

    While presenting the motion, Onobun noted that the CBN recently issued a circular revising ATM transaction fees under Section 10.7 of the CBN Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions.

    He explained that the new directive increases ATM withdrawal charges and eliminates free withdrawals for customers using other banks’ ATMs, thereby imposing additional financial burdens on Nigerians.

    According to him, the said section 10.7 of this Guide was last reviewed in 2019, reducing ATM transaction fees from N65 Naira to N35 per transaction. 

    He said “according to this new policy, customers withdrawing from their Bank’s ATMs will continue to enjoy free withdrawals. However, a fee of N100 per N20,000 withdrawals will be applied to customers from other Banks transacting from ATMs within the Bank premises. 

    Read Also: Reps: Seven oil firms to refund $37.4m to federation account before August

    “Similarly, Customers from other Banks transacting from ATM outside the premises of the Bank (Malls, Market places, and other public places) will be charged N100 and an additional surcharge of N500.

    “The citizens of Nigeria are already grappling with multiple economic hardships, including high inflation, increased fuel prices, electricity tariff hike, and numerous banking and service charges that significantly reduce disposable income and negatively impact the economic welfare of citizens. 

    “The imposition of additional ATM withdrawal charges will further limit the financial inclusion of Nigerians by discouraging low-income earners from accessing banking services, thereby contradicting the CBN’s financial inclusion agenda. 

    “The fact that the banking sector has continued to record significant profits, imposing further charges on consumers without corresponding improvements in service delivery or infrastructure is unjustifiable. 

    “The role of government includes protecting citizens from exploitative financial practices that may lead to further economic distress”.