The setting up of the committee on ownership of Power Distribution Companies and the passage of the increase in Value Added Tax (VAT) and other taxes are some of the trending stories in the Nigerian press on Friday.
The Nation reported that the National Economic Council (NEC) has raised an adhoc committee to review the ownership structure of the Power Distribution Companies (DisCos).
The Imo State Governor, Mr. Emeka Ihedioha, dropped the hint after the NEC meeting and stated that the panel has a mandate to review the companies’ ownership status.
The Punch stated that the Senate has passed the Finance Bill, 2019, despite the public outcry that greeted some aspects of the proposed law, particularly the increase in the Value Added Tax from 5 percent to 7.5 percent.
The Daily Trust said the Economic and Financial Crimes Commission (EFCC) has re-arraigned a Briton, James Richard Nolan, on a 32-count amended charge over his alleged complicity in the alleged Process and Industrial Development (P&ID) scam.
At the resumed hearing of the matter on Thursday, EFCC’s counsel, Ekele Iheanacho, told a Federal High Court in Abuja presided over by Justice Okon Abang that the anti-graft agency filed the amended charge on November 20 to replace the initial 16-count charge bordering on money laundering.
ThisDay said President Muhammadu Buhari has warned that under no circumstances should bandits and kidnappers be allowed to hold the country to ransom even as he ordered security forces to be ruthless in dealing with criminal elements.
The Guardian reported that the Kano State High Court has nullified the creation of four new first-class emirates by the state government.
Ruling on the suit filed by a member of the state House of Assembly, Rabiu Gwarzo, challenging the exercise, the presiding judge, Justice Usman Na’Abba, said the law enabling the creation of the new emirates was improperly enacted, contravening Section 101 of the 1999 Constitution (as amended).
ChannelsTV reported that President of the Senate, Ahmad Lawan, said that the Senate had not received any formal request from President Muhammadu Buhari for confirmation of the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu.
The Sun reported that the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, has revealed that the committee resolved to join hands with Assets Management Company of Nigeria (AMCON) to push for the recovery of $16.4 billion (N5 trillion) owed by high-profile Nigerians.
MM/GIK/APA