Rationale
Senate passes amended AMCON bill, empowers agency to seize debtors’ assets
The Senate Wednesday passed the Asset Management Corporation of Nigeria Amendment bill after considering the report of its Committee on Banking, Insurance, and Other Financial Institutions. The amendment bill passed by the upper chamber empowers the Assets Management Corporation of Nigeria to, among others, take possession, manage or sell all properties traced to debtors, whether or not such assets or property is used as security/collateral for obtaining the loan in particular. It also empowers the corporation to access the Special Tribunal established by the BOFIA, 2020 for dealing with financial related matters. Presenting the report, Chairman of the Committee, Senator Uba Sani (APC, Kaduna Central) said the Committee engaged with stakeholders such as AMCON, Federal Ministry of Finance, ...
Imo attacks: I’ve left Governor Uzodinma in the court of public opinion – Senator Okorocha
Former Governor of Imo State, Rochas Okorocha, has said he has chosen to remain silent over the allegations leveled against him that he sponsored the recent attacks on some federal government establishment in the state. Okorocha, who is the senator representing Imo West in the National Assembly, said he would rather allow the public and posterity to judge him. The former governor, in a statement signed by his media aide, Sam Onwuemeodo, said at the right time, the people will know those behind the attacks. The statement said, “We wish to inform the general public that, we decided to leave the Imo governor and his government in the court of public opinions, over their allegations against Okorocha concerning the unfortunate and worrisome Owerri attacks. “Nigerians of good spirits have been a...
House of Reps summons auditor-general over $36.1 million World Bank loan
The House of Representatives has summoned the acting Auditor General of the Federation, Mr Aghughu Adolphus, over a $36.1m facility under the Fiscal Governance and Institutions Project of the World Bank, to the office. The House Committee on Public Accounts issued the summons at its public hearing in Abuja on Tuesday. Adolphus, who had earlier been invited by the committee, had failed to show up on Tuesday. His representatives led by a Deputy Director, Mr Babalola Olanrewaju, could not explain to the lawmakers the rationale behind taking the loan. Chairman of the committee, Mr Wole Oke, said, “We want to know what the loan was meant for before going to sign for it. What was your procurement plan before arriving at that figure? Or is it a reward? We need to know the programme plan, how you ...
