x

House of Reps investigates alleged revenue leakage of $30b

The House of Representatives has opened investigations into Nigeria’s loss of more than 30 billion dollars annually in the past ten years from foreign exchange allocation and tax evasion.

At the maiden investigative hearing, one of the invited banks disclosed that it is in court to stop the parliament from going ahead with the investigations.

National Assembly Correspondent Joke Adisa reports that the mandate before the joint Committee of the House on Finance as well as Banking and Currency is to unravel the truth surrounding an allegation that the country loses about thirty billion dollars every year to tax evasion and other malpractices.

The Speaker of the House declared the investigative hearing open resolving that the parliament will plug all loopholes

As the technical session opens, one of the five banks slated to appear before the legislators insisted it is in possesion of a court order which stops it from exposing its foreign exchange records to the lawmakers.

The representative of Unity Bank, Usman Abdulkadir, was asked to represent the bank’s memorandum and appear at a later date.

Hot this week

Nigeria @65: Claims of Progress Are Deceptive – Activist Ukegbu

A social rights activist, Comrade Okechukwu Keshi Ukegbu, has...

Group Presses Nasarawa Assembly for Speedy Passage of Climate Change Bill

y Leo Zwanke, LafiaThe Nasarawa State Network on Environment...

Gov Ododo Flags Off 2025 Immunization Campaign, Reaffirms Commitment to Polio-Free Kogi

By Noah Ocheni, LokojaThe Kogi State Governor, Alhaji Ahmed...

Minister Nnaji’s Certificate Scandal: CACOL Demands Immediate Sack and Prosecution

***By Jabiru Hassan**The Centre for Anti-Corruption and Open Leadership...

CBN committed to economic stability, clears $7bn FX backlog- Cardoso

By Ogenyi Ogenyi,UyoThe Central Bank of Nigeria,CBN, has...

Benue Not Among Worst Governed States in Nigeria — Gov Alia’s Aide Replies GGRI

By Isaac Kertyo, MakurdiThe Technical Adviser to the Benue...

Nasarawa Governor, Ministers Commend NCDC at Policy Review Retreat in Lafia

By Israel Adamu, JosThe Minister of Regional Development, Engr....

Kogi Assembly Swears In New Lawmaker, Hon. Hassan Shado Musa

By Noah Ocheni, LokojaThe Kogi State House of Assembly...

Gov Ododo Flags Off 2025 Immunization Campaign, Reaffirms Commitment to Polio-Free Kogi

By Noah Ocheni, LokojaThe Kogi State Governor, Alhaji Ahmed...

Ghana to Pull Women To 2025 African Women Conference in Nov

By Joyce Remi-BabayejuThe Republic of Ghana is set...

Dinfa: Only a Northern Christian President Can Protect Northern Christians

By Israel Adamu, JosThe National Coordinator of the Young...

Related Articles

Popular Categories

spot_imgspot_img