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Senate approves N9.1b budget for SEC

The Senate on Wednesday approved N9.1 billion budget for the Securities and Exchange Commission as its 2017 budget.
The agency budgeted N566 million for furniture and dressing allowances.
The agency will spend N30 million on vehicles maintenance, N150 million on premises maintenance and N30 million on equipment maintenance.
Also, the agency will spend N247 million on foreign and local travels, while N30 million will be spent on local and foreign training.
In addition, N25 million will be spent on toiletries, beverages and display, while the agency will spend N10 million on corporate donations.
The recurrent expenditure for the agency is N9 billion, while capital expenditure is N150 million.
The total revenue is N6.7 billion.