The Senate Chief Whip, Ali Ndume, has voiced his dissatisfaction with the recent renovation work carried out in the Senate Chamber, labeling it as substandard.

Under Order 42 of the Senate Standing Rules, Ndume expressed his concerns, highlighting various issues such as the poor quality of the sound system leading to echoes, inadequate sitting arrangements, and the absence of voting devices.

He remarked, “Since day one, precisely last week Tuesday when we moved into this Chamber that was supposed to have been renovated, there have been complaints here and there.”

In response, the President of the Senate, Godswill Akpabio, clarified that the sitting arrangement complaints among Senators have been largely resolved, noting that the renovation contract was not executed by the 10th National Assembly.

Meanwhile, in legislative proceedings, the Senate passed for the second reading a Bill aimed at repealing the Revenue, Mobilization, Allocation and Fiscal Commission Act of 2004.

The new legislation seeks to grant the Commission enforcement powers for monitoring revenue accruals and disbursement from the federation account, aligning it with the amended 1999 constitution.

Despite the bill’s passage, lawmakers have agreed to subject it to further scrutiny, with plans to revisit its provisions.

The bill has been referred to the Committee on Finance, Appropriations, and Economic and Financial Planning for review, with a report expected within four weeks.

A decade after its inception, the Abuja Centenary City project faces renewed scrutiny as the Senate initiates an investigation into its faltering $18.5 billion public-private sector-led initiative.

In a bid to breathe new life into the ambitious venture, the Senate, under the 10th Assembly, has established an ad-hoc committee chaired by Deputy Senate President, Sen. Barau Jibrin.

The brainchild behind the investigative move, Sen. Yisa Oyelola representing Kwara South, highlighted the initial vision of the project, which was earmarked as a free trade zone under the auspices of the Nigerian Export Processing Zones Authority (NEPZA).

He emphasised the necessity of revisiting the project’s trajectory, given its substantial economic potential.

While some lawmakers advocate for a public-private partnership (PPP) revival strategy, dismissing the notion of direct federal funding, others underscore the need for a self-sustaining financial model.

Sen. ISAH Jibrin, Chairman of the Senate Committee on Customs, emphasised the importance of exploring investment banking avenues to secure the project’s financial future.

To expedite progress, the Senate has tasked the Committee on Federal Capital Territory with investigating the hurdles obstructing the project’s completion.

Specifically, the committee is mandated to scrutinise the existing public-private partnership agreement and propose necessary amendments to facilitate a prompt resolution within a defined timeframe.

Also, the Senate urged the Federal Government to prioritise the project’s revival by extending essential support, resolving regulatory bottlenecks, and addressing any lingering obstacles.

The Central Bank of Nigeria (CBN) has set a firm deadline for Point of Sales (PoS) operators to finalise their registration with the Corporate Affairs Corporation (CAC) by July 7, 2024.

This announcement came to light during a pivotal meeting between Fintech representatives and the Registrar-General/Chief Executive Officer (CAC), Hussaini Magaji (SAN), held in Abuja on Tuesday.

In his address, Magaji emphasised the critical importance of adhering to the two-month timeline for registering agents, merchants, and individuals with the commission, citing compliance with legal requirements and directives from the CBN.

According to a statement titled ‘CAC, PoS Operators Agree to Two-Month Deadline to Register Their Agents and Merchants to Strengthen the Fintech Industry,’ issued by the CAC, this measure aims at bolstering Fintech customers’ businesses and fortifying the economy.

Magaji underscored that this action is supported by Section 863, Subsection 1 of the Companies and Allied Matters Act (CAMA) 2020, as well as the 2013 CBN guidelines on agent banking.

He clarified that the deadline, ending on July 7, 2024, is not targeted at specific groups or individuals but rather aims at safeguarding businesses collectively.

Prominent voices from the Fintech sector committed to collaborating with the commission to ensure the seamless implementation of this directive.

While expressing support, some stressed the necessity for comprehensive and collective sensitisation to ensure the efficacy of the exercise.

Tokoni Peter, the Special Adviser to the President on ICT Development and Innovation, affirmed his commitment to facilitating a smooth process in alignment with the Renewed Hope Initiative of the current administration.

Representatives from Opay, Momba, Palmpay Ltd, Pay Stack, Fair Money MFB, Monie Point, and Teasy Pay, present at the event, further solidified their dedication by signing a document in support of the project.