A trust would only be taxed if it is unable to effectively distribute all taxable income to the beneficiaries under the trust. Failure to do this would require it to be taxed at a personal tax rate…
Companies’ capital structure varies and several factors are also considered before the best financing option for a company can be ascertained. Debt and equity financing are the basic forms for a company to acquire its necessary funding, and the ability to decide the best form of financing enable businesses to achieve capital optimization.
The Nigerian government has enacted several laws and regulations to ensure that businesses in the banking sector and other financial institutions, are conducted in a safe and sound manner by competent and trustworthy persons. Also, the black book was introduced to prevent the recycling of dishonest persons in this sector.
African leaders must be ready to commit to achieving this course, set by the development of the PAPSS, not just by being mere signatories and participants of the PAPSS, but by ensuring the establishment of key economic and political strategies, geared at facilitating a seamless or near seamless cross-border African trade.
National Information Technology Development Agency's action in sanctioning a rogue fintech firm is commendable. The N10 million penalties imposed on Soko Lending Company, for sending threatening messages to borrowers, which constitutes a privacy invasion, will serve as a deterrent to other Digital lenders, ensuring that they work within the law in order to collect their funds.
In my opinion, I believe that the above was the position up until data buckets in certain Financial Institutions that had been left unsecured were breached, which brought to question, the high probability of identity theft of consumers’ personal information.
With the high amount of people interacting with digital assets daily; either from investing in crypto or the Digitization of existing investment assets, the digital assets market is becoming integrated into the existing fabric of traditional financial markets.
There is a plethora of benefits accruable to security lending transactions. One of them is the facilitation of various trades that allow investors or institutions to take a bespoke position in arbitrage situations.
In Nigeria, there are about 200 FinTech businesses that provide financial inclusion and solutions for Africans in general. Between January and September 2021, FinTech firms in Africa raised $1.4 billion, with Nigeria notably accounting for over $800 million of that total.[1] With the Fintech industry being very sacrosanct to the economy, it is therefore important to properly analyze relevant regulations in the Nigerian Fintech Industry.
