Non-Interest Banking in Nigeria-Tax Issues (2)
From a tax perspective,one of the major challenges confronting Non Interest Banking (NIB) internationally is that tax laws generally cater for conventional banking products, which involve the charging of interest on monies lent which is not the same with NIBs.
Pressure mounts on Sanusi to reduce interest rate
Operators in both the capital market and money market, including stakeholders in the manufacturing sector have intensified calls on the Central Bank of Nigeria (CBN) to reverse its tight money supply policy , responsible for the high interest rate regime in the country.
Senate demands NPA, NASS collaboration for speedy budget approval
Senate Committee on Marine Transport has demanded that the management of Nigerian Ports Authority (NPA) work harmoniously with the National Assembly for prompt approval of its 2013 budget.
Yakowa urges Christians to pray for peace
Gov. Patrick Yakowa of Kaduna State on Sunday reiterated call on Christians and adherents of other religions to continue to pray for peace in the state and the country as a whole.
NSE targets 150 companies for operational research coverage
The Nigerian Stock Exchange, NSE, has commenced an equity research coverage targeting about 150 quoted companies not covered by independent sell side analysts’ reports.
Dollarisation of the Nigerian Economy: Who is to blame?
Recently while in Tokyo at the conclusion of the 2012 IMF/World Bank Group Annual meetings, the CBN Governor, Sanusi Lamido Sanusi, decried the dollarisation of the Nigeria economy. He said the President, the CBN and everybody is worried about the development. In Economics parlance, dollarisation of an economy occurs when the inhabitants of a country use foreign currency in parallel to or instead of the domestic currency as a store of value, unit of account, and/or medium of exchange within the domestic economy.
