The House of Representatives has resolved to set up an ad hoc Committee to investigate alleged abuse of tax incentives, breaks and waivers by public officials and benefiting companies.
This was the sequel to a unanimous adoption of a motion by Oluwole Oke (PDP-Osun) at plenary on Thursday.
Moving the motion earlier, Mr Oke said it is within the ambits of the federal government’s powers to exercise executive and legislative jurisdiction over items in the Exclusive Legislative list as contained in the second schedule of the Constitution.
He said that items like taxation of incomes, profits and capital gains, export and imports are exclusively within the federal government’s control.
According to him, in line with the above, the Federal Government of Nigeria exercises monetary and fiscal controls over the economy to stabilise both micro and macroeconomic conditions and fundamentals.