![Senate Plenary [PHOTO CREDIT: @NgrSenate]](https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2023/11/363351187_680333360805985_4878320877290505346_n-scaled-e1701405193758.jpeg?fit=2560%2C1600&ssl=1)
Senators on Thursday adjourned plenary for their annual recess, from which they are scheduled to resume on 15 September.
Before the adjournment, the lawmakers debated several bills and motions and adopted a number of resolutions. Here are some of the major legislative actions:
|
|
Lawmakers pass bill to rename NAICOM
On Tuesday, the lawmakers debated and passed a bill seeking to rename the National Insurance Commission (NAICOM) as the Insurance Regulatory Commission.
The upper chamber approved the bill after considering the report of its Committee on Banking, Insurance and Other Financial Institutions, presented by its chairman, Adetokunbo Abiru.
|
|
|
|---|
The bill was sponsored by Mr Abiru, along with other members of the Senate Committee on Banking, Insurance and Other Financial Institutions.
Mr Abiru, while presenting the committee’s report, explained that the name change was proposed because the current name had become confusing in light of the evolution of Nigeria’s insurance industry and no longer accurately reflects the commission’s regulatory mandate.
The bill also introduces tougher enforcement measures, including higher fines, licence suspensions, and disqualification of individuals found responsible for the failure of insurance institutions from holding positions in the industry.
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
It also updated the provisions on supervision, inspection and intervention to address the current challenges faced in the industry, such as the need for ministerial approval to remove or appoint directors of failing or distressed insurance institutions.
The bill further requires the Minister of Finance to constitute an interim management committee for the commission within 30 days of the expiration or termination of the tenure of its governing board.
The legislation also expands the commission’s mandate to ensure the effective administration, supervision, regulation, control, integrity and development of insurance business in Nigeria.
More time for Safe Schools Programme probe
The Senate also extended by two weeks the deadline for its ad hoc committee investigating the spending of more than $30 million on Nigeria’s Safe Schools Programme, a federal security initiative launched in 2014 to protect students and schools from attacks.
The upper chamber also broadened the committee’s mandate to include an investigation into education-related funds managed by the Tertiary Education Trust Fund (TETFund), the Nigerian Education Loan Fund (NELFUND), and the Universal Basic Education Commission (UBEC).
The committee will further examine how education support funds administered by the Federal Ministry of Humanitarian Affairs and Poverty Alleviation and the National Social Investment Programme Agency (NSIPA) were utilised.
The Senate adopted the resolution after considering a motion moved by the committee chairman, Orji Kalu, seeking an expansion of the panel’s terms of reference and additional time to conclude its investigation.
Senate panel wants AMCON operational records ready ahead of wind-down
The Senate Committee on Banking, Insurance and Other Financial Institutions also directed the Asset Management Corporation of Nigeria (AMCON) to prepare a comprehensive report on its operations ahead of the corporation’s planned wind-down in 2030.
The committee said the report, detailing AMCON’s achievements and outstanding responsibilities since its establishment, should be presented to the National Assembly.
The committee’s chairman, Adetokunbo Abiru, gave the directive during the screening of Lamido Yuguda, a deputy governor of the Central Bank of Nigeria (CBN), for confirmation as chairman of AMCON’s board.
The call for a comprehensive report was first raised by Niger East Senator, Sani Musa, who urged Mr Yuguda, if confirmed, to begin compiling a detailed account of AMCON’s activities, achievements and unresolved obligations before the corporation’s expiration.
Chamber’s honour for departed ex-lawmaker, Tinubu’s campaigner
The Senate on Wednesday sympathised with the family of former senator Anthony Adeniyi, who represented Ekiti South Senatorial District between 2011 and 2015.
Mr Adeniyi, a Senior Advocate of Nigeria (SAN), died on 24 June at the age of 75.
Until his death, he was the Ekiti State chairman of the South West Agenda for Asiwaju (SWAGA), the political movement that mobilised support for the emergence of President Bola Tinubu ahead of the 2023 general election.
The Senate considered a motion on Mr Adeniyi’s death, moved by the senator representing Ekiti South Senatorial District, Yemi Adaramodu, during Wednesday’s plenary.
Senators frown at MDAs’ disregard for resolutions
The Senate on Wednesday adopted a report by its Committee on Legislative Compliance detailing the implementation of resolutions arising from motions passed between July 2023 and December 2025.
The report, presented during plenary by the committee’s chairman, Garba Maidoki, assessed the impact of Senate resolutions and the level of compliance by ministries, departments and agencies (MDAs), particularly on issues relating to road rehabilitation, disaster management and other matters directly affecting Nigerians.
Mr Maidoki, who represents Kebbi South Senatorial District, said the committee tracked the implementation of the resolutions by the relevant agencies and found that many were either delayed or ignored.
He said that despite the committee’s efforts to ensure compliance, many MDAs repeatedly failed to respond, a situation he described as a disregard for the authority of both the committee and the Senate.
Setback for Nigerian Coast Guard Bill
The Senate on Wednesday suspended consideration of the Nigerian Coast Guard Bill due to concerns that the proposed agency’s functions could overlap with those of the Nigerian Navy and the Marine Police.
The Senate President, Godswill Akpabio, announced the withdrawal after a majority of senators supported the decision through a voice vote during plenary.
The bill, sponsored by Wasiu Eshinlokun (APC, Lagos East), seeks to establish the Nigerian Coast Guard to strengthen maritime security, combat illegal fishing and curb unauthorised activities along Nigeria’s coastline. It proposes the agency as a specialised maritime security outfit under the Ministry of Marine and Blue Economy.
Mr Akpabio said several senators had privately raised concerns that the proposed Coast Guard would duplicate the responsibilities of existing maritime security agencies.
He argued that both the Marine Police and the Nigerian Navy were already underfunded and that creating another security agency could worsen coordination challenges.
The Senate president added that establishing another maritime security outfit without clearly defining its responsibilities could create unnecessary confusion.
Lawmakers want NGOs to disclose foreign donors
A bill seeking to compel Non-Governmental Organisations (NGOs) operating in Nigeria to register all foreign aid and donor-funded projects with the government passed second reading in the Senate on Wednesday.
After the passage, the bill was referred to the Senate Committees on National Planning and Economic Development and Finance for public hearing. The committees were directed to report back within four weeks.
The Bill, sponsored by Ibrahim Dankwambo, the senator representing Gombe North Senatorial District, seeks to establish a National Donor Coordination Framework, make registration of all donor-funded projects compulsory, and create a national database of foreign assistance.
It also proposes integrating donor-funded interventions into government budgets, mandating public disclosure of funding sources and project implementation details, and imposing sanctions for the diversion, misuse or non-registration of donor funds.
Senate threatens MDAs over dishonour for summons
The Senate on Thursday directed the Secretary to the Government of the Federation (SGF), George Akume, and the Head of the Civil Service of the Federation (HoS), Esther Walson-Jack, to ensure that ministries, departments and agencies (MDAs) that have refused to appear before National Assembly committees honour lawmakers’ invitations.
The upper chamber warned that it would not hesitate to impose appropriate sanctions on agencies that continue to disregard committee invitations.
The resolution followed a motion sponsored by the senator representing Niger East, Sani Musa, who complained that the heads of several agencies had consistently ignored invitations from the Senate Committee on Finance, which he chairs.
The committee recently commenced an investigation into the management of internally generated revenue and remittances by government agencies between 2023 and 2025. As part of the probe, the agencies were invited to explain how they managed and remitted revenue during the period under review.
Mr Musa, however, said some of the agencies failed to appear despite repeated invitations.
Concerns over bill compelling social media platforms to establish physical offices
The Nigerian Bar Association (NBA) and the Nigeria Internet Registration Association (NIRA) advised that a bill seeking to compel social media platforms and bloggers operating in Nigeria to establish physical offices with verifiable addresses in the country should be withdrawn.
The organisations voiced their concerns during a public hearing organised by the Senate Committee on ICT and Cyber Security on Thursday.
The bill, sponsored by the senator representing Delta North, Ned Nwoko, passed second reading in the Senate in March 2025 before being referred to the committee for a public hearing.
While some stakeholders argued that requiring social media platforms to establish physical offices in Nigeria could lead to the withdrawal or shutdown of some platforms, others supported the proposal, saying it would create employment opportunities, promote technology transfer and strengthen corporate social responsibility.
Others who opposed the bill also argued that the 30-day compliance period prescribed in the proposed legislation is too short and should be extended.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
![President Bola Tinubu boarding an airplane [PHOTO: TW @nosasemota]](https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2024/06/F1FDCk1agAIpmJ6-e1718301158114.jpeg?fit=2048%2C1160&ssl=1)
![Governor Mohammed Umaru Bago of Niger State. [PHOTO CREDIT: Umaru Mohammed Bago]](https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2024/08/421546692_933719274781578_2601576153313703495_n-e1723404028950.jpg?fit=1024%2C614&ssl=1)
