Rising Bad Loans Choking Banks-CBN
The Central Bank of Nigeria (CBN) yesterday warned that rising incidence of bad loans has exposed the banking sector to macroeconomic adversity and weakened resilience in the sector.
The warning is coming one month after the Nigeria Deposit Corporation (NDIC), expressed similar concern, revealing that directors were liable for 40 percent of the #1.85 trillion bad loans in banks.
Adeosun Wants National Assembly To Cut CBN Governor’s Powers
The Minister of Finance, Mrs Kemi Adeosun, yesterday asked for the reduction of the powers of the governor of the Central Bank of Nigeria (CBN). She blamed the extension powers of the governors for the disconnect between Federal Government’s momentary and fiscal policies. She pleaded with the Nation Assembly that conferred the powers on the CBN boss, through a legal instrument, to slash them to pave the way for checks and balances.,
ABU to Speak On Melaye Today As Senate Begins Probe
The Senate on Tuesday, decided to investigate the allegations that an armoured Range Rover car said to worth #298m and seized by the Nigeria Customs Service belongs to the President of the Senate, Senator Bukola Saraki.
The move was based on the point of order raised by former Majority Leader of the Senate Ali Ndume, who also called on the upper chamber of the National Assembly to investigate the allegation that Senator Dino Melaye did not complete his first degree in Geography at the Ahmadu Bello University, Zaria.
Senate To Probe Saraki Over Seized #298m SUV
The Senate has directed its committee on Ethics, Privileges and Public Petitions, headed by Senator Sam Anyanwu, to investigate the alleged importation of a bullet-proof Sport Utility Vehicle (SUV) reportedly worth #289million by the Senate President, Dr Bukola Saraki.
Trouble In Senate
Fresh crisis may hit the Senate over moves to sanction immediate-post Senate Leader, Ali Ndume, for what lawmakers described as “unparliamentary” utterances.
This is coming at a time senators have resolved to investigate Senate President, Bukola Saraki over alleged importation of bulletproof Sport Utility Vehicle (SUV) impounded by the Customs and Senator Dino Melaye over alleged certificate forgery.
Senate Angry As Customs Chief Ali Shuns Invitation
Customs Chief Hammed Ali will not appear before the Senate today. Senators have been insiting that the Comptroller- General should appear “in uniform” to explain the planned enforcement of duty collection on old vehicles.
Col. Ali told reporters in Abuja yesterday that he would stay away from the Senate in deference to a court order.
Senate Probes Saraki
The Senate, yesterday mandated it’s Committee on Ethics, Petitions to investigate the allegation against the President of the Senate, Dr Bukola Saraki, that he imported bulletproof Sport Utility Vehicle (SUV) with fake documents.