The Senate Committee on Finance has rejected the 2026 budget proposal and defence, presented by the Corporate Affairs Commission, CAC, describing the document submitted by the agency as clumsy, scanty and unprecedented.

The Committee, chaired by Senator Sani Musa, directed the Commission to return with a more detailed and properly structured budget presentation on Thursday, March 5, with clear financial assumptions and reconciled figures.

Senator Isah expressed dissatisfaction with inconsistencies in revenue figures, remittances and outstanding obligations contained in the document presented by the Registrar-General and Chief Executive Officer of CAC, Hussaini Ishaq Magaji, SAN.

The Chairman of the committee, Senator Sanni Musa, subsequently asked CAC to review its submission and provide comprehensive explanations addressing revenue remittances, outstanding liabilities and financial projections.

Magaji had tendered an unreserved apology to the committee over his absence at a previous budget defence session, and an interactive meeting with the Federal Government’s economic team, blaming the incident on an internal communication crisis within the Commission.

The absence had earlier angered lawmakers, prompting calls for President Bola Tinubu to sack the Registrar-General for disrespect to the Senate.

Following a motion moved by Senator Isah Jubril, the committee rescinded its earlier resolution recommending his removal and withdrew proposed disciplinary measures.