The Senate has elongated the implementation timeline for the 2023 supplementary budget, stretching it from March 31 to June 30, 2024, instigating a flurry of fiscal recalibrations.
Amidst this fiscal shuffle, the Red Chamber propelled an executive bill, sponsored by its Leader, Senator Opeyemi Bamidele, catalyzing swift deliberations with unanimous endorsements for its rapid progression to fruition, as reported by The Punch.
Furthermore, the Senate ratified the 2024 budget for the Federal Inland Revenue Service, endorsing a staggering sum of N446,342,656,992.00.
This allocation delineates N177,441,479,682.00 for Personnel costs, N156,454,385,053.00 for Overhead costs, and N112,446,822,255.00 for capital expenditure, underscoring an ambitious fiscal agenda.
Delving deeper, the Senate affirmed four individuals as Managing and Executive Directors of the Asset Management Company of Nigeria, ushering in a new cadre of leadership helmed by Gbenga Alade and his executive team, as ordained by President Bola Tinubu’s directive.
In a concerted effort to fortify Nigeria’s legal framework, the Senate propelled the amendment of the Extradition Act, recognizing its pivotal role in aligning with international standards in combating Money Laundering and Terrorism Financing.
Senator Opeyemi Bamidele advocated for amendments, emphasizing the imperative to broaden Nigeria’s extradition treaty scope beyond Commonwealth countries, thus elevating Nigeria’s standing in global cooperation efforts.
