The House of Representatives has directed the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance to refund the 50% deduction made from the account of the Nigerian Shippers’ Council (NSC).
This resolution was adopted following a motion of urgent public importance raised by Hon. Ahmad Muhammad, who criticized the deduction carried out under the 2021 Finance Act in December 2023.
Hon. Muhammad pointed out that while similar deductions made from other agencies had been refunded, the Nigerian Shippers’ Council was yet to receive a refund, raising questions about fairness and accountability. He urged the Ministry of Finance and the CBN to expedite the refund process and ensure compliance with the law.
In a related development, the House called on the Federal Ministry of Power to classify electricity Distribution Companies (Discos) as non-state actors and proposed recapitalization measures requiring operators to have at least ₦500 billion in financial capacity. Hon. Ibrahim Isiaka decried the dubious practices of Discos, particularly their demand for extra payments from consumers for replacement meters, describing such actions as exploitative and detrimental to public trust.
