AN APPRAISAL OF TAXATION AND ITS LEGAL EFFECTS ON FOREIGN DIRECT INVESTMENT IN NIGERIA

ABSTRACT

 

Principles of taxation, especially international taxation, are one of the instruments through which Foreign Direct Investment, (FDI), is usually attracted to a country. These principles are invariably contained in bilateral or multilateral tax treaties signed between the host countries and the investor countries. The issue for consideration is whether tax treaties between Nigeria and other countries have achieved their desired objectives of attracting foreign direct investment and facilitating economic growth and development. Part of the research problems is how to establish a correlation or nexus between the principles of taxation and foreign direct investment into Nigeria. The aims and objectives of this research are therefore to discuss the impact of taxation on the Nigerian economy and to examine the relationship between the principles of international taxation and foreign direct investment. Consequently, both doctrinal and empirical methods of research are employed in this work. Some of the research findings are that tax treaties between Nigeria and other countries do not have adequate provisions to curb harmful practices like thin capitalization, treaty shopping and tax deferrals, among others. The research then makes recommendations on anti-thin capitalization rules, anti-deferral measures and anti-treaty shopping provisions in the tax treaties between Nigeria and other countries.

 

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THE LAW OF THE SEA AND ENVIRONMENTAL PROTECTION IN NIGERIA A STUDY OF THE KOKO INCIDENT

The environment is a beautiful place to live in once treated in that regard, it is to this extent that the environment cannot be discussed without its evolution world over. The environment as beautiful as we have described it is faced with the twin pressure of population and development, and these environmental menaces however, results in its deterioration and diminution of the natural resources at a frighteningly state.

 

Day in, day out, our environments are been polluted with various unlawful disposals of waste, like the traditional pollutants, despite this the sprain of unimpeded effluents and secretion from hazardous industries has caused pollution of the environment and consequent human health hazards.

 

The world becoming a global village has really affected the environment and generally the populace are not really ready to take care of the environment in proportion with the world developments, with the spring of reckless industrial growth and this may lead to an over exploitation and destruction of natural resources to an extent such that disaster will be the order of the day as the environmental support system has been damaged beyond repair.

In the words of Dharmendra S. Sengar (2007) he stated that there is a  need  then to strike a balance between environment and the technological development so that we may have sustainable development. He added further that “Environmental pollution which has become a worldwide problem,  many  nations is giving it some required attentions. The United Nations Conference on Human Environment in 1972 was an initial major effort to diagnose the unsatisfactory state of global environment.

 

The efforts of the United Nations cannot be overemphasized,  despite  these efforts most of the nations of the world, has no national policy or laws to protect their environment, despite various threat posed by the environmental hazards.

 

Then the advent of the United Nations Conference tagged the Stockholm Declaration on the Human Environment 1972, which for the first time in the history of the world, presented a communiqué on a legal regime for environmental protection, which highlights the problems and recommends measures to make the system of regulatory environmental management more effective and proactive.

Nigeria as a nation was not an except to the slow development of the concept of environmental law, the nation has no single policy or law relating to the protection of the environment and this has caused a whole lot of hazards to the environment and human in general.

 

This attitude however brought about the incident of the Koko Toxic waste that was dumped Koko in Delta State (then Bendel State) in 1988. This singular act  that is detrimental to the nation brought the Federal Government of Nigeria into action towards promulgating environmental law and enforcement of  international declaration on environmental laws.

Africa is not the only continent in the world that is affected by  these  multi various environmental problems, it is a global problem which the Stockholm Declaration on the Human Environment held by the United Nations  Organization on the problems of Human Environment had addressed.

 

In response to this declaration, African nations adopted this report by organizing Lawyers Seminar on the development of environmental protection legislation in the Economic Commission for Africa Region (ECA) which critically discussed at the second meeting of the Technical Preparatory Committee of the WHOLE in Freetown, Sierra Leone in March 1981. This conference report was adopted by   the 16th session of the Commission and 7th meeting of the conference of the Ministers which took place in Freetown in April 1981 by its Resolution 412 (xvi).

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CORPORATE CAPACITY AND THE ULTRA VIRES RULE UNDER NIGERIAN LAW

CORPORATE CAPACITY AND THE ULTRA VIRES RULE UNDER NIGERIAN LAW

Abstract:

Any act of a company outside the Memorandum and Articles of Association of the company or the statute(s) creating the company are Ultra Vires. Traditionally, such acts are VOID and neither the company nor third parties derive any benefits from such transactions. Attempts to moderate the harsh consequences of the Ultra Vires Rule have failed to yield results that satisfy all the parties in corporate practice. The result is that, the Ultra Vires Rule is dreaded by many. As a follow up, the company, a potential instrument for investment and development, is equally dreaded by investors and/or creditors or third parties dealing with the company. This thesis investigates the Ultra Vires Rule and corporate capacity in theoretical and practical terms against the background of connected matters, with a view to arriving at recommendations for further reforms that will attain the best of results for Nigeria. This work strives to contribute immensely in ridding the dangerous propensities relative to investors and creditors of the company, as to corporate capacity and the Utra Vres Rule. This should render or make companies a more attractive medium for doing business to be fully, freely, and fearlessly embraced by all for speedier development. The research is basically doctrinal, based on available literature on the subject, and establishes among other things that the Ultra Vires Rule otherwise called, doctrine of limited capacity of companies, does not serve the interest of justice or best interest of all the parties to corporate practice. Rather, the rule is a nuisance to investors and a trap to unwary creditors or third parties. In the same vein the concept of limited liability, and the distinction between the Memorandum and Articles of Association are undesirable. Also, it is more practicable to treat issues of company law as distinct rather than as logically following from other branches of law, say agency. The overall implication of findings of the research is that the law as now obtains needs to be reformulated in line with recommendations made in the thesis to attain the best of results for Nigeria

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APPRAISAL OF THE IMPEDIMENTS TO INHERITANCE UNDER ISLAMIC LAW

APPRAISAL OF THE IMPEDIMENTS TO INHERITANCE UNDER ISLAMIC LAW

1.1 GENERAL BACKGROUND


There are some obstacles and impediments which prevent an inheritor to benefit from the assets left by his/her deceased relation. Broadly, there are four cases consisting of the obstacles, bar or impediment to inheritance, they include Homicide (Qatl), difference of religion, Apostasy (Riddah), and Slavery. Some jurists, however, includes difference of domicile as an impediment to inheritance Each one of them functions independently from another and bars the beneficiary from materializing his right of inheritance. There are divergent views from different schools of Islamic Jurisprudence over the concept or rather what constitute impediments to inheritance under Islamic Law, despite the fact that some of these impediments are clearly contained in the primary sources as explained by the Prophet (S.A.W). Impediments to inheritance are the personal acts or attributes of a person which disqualifies him from succession who would otherwise be an entitled heir on grounds of blood or marital relationship with the praepositus For those relatives of the deceased person ‘who are debarred from inheritance by reason stated above, do not adversely affect the right of other heirs from inheritance, neither do they exclude nor restrict their respective shares. In essences, disqualified heirs are deemed, in law, to be non-existing at all for the purpose of Islamic law of inheritance. For example, where a deceased person left behind two or more agnate brothers who, if not disqualified, would have restricted the mother’s Qur’anic share from one-third (1/3) to one-sixth (1/6) even when they are excluded by the father of the deceased person, but for the disqualification which befalls them, would not affect or restrict the mother’s Quranic share. This is because, for that impediment, they are not recognized in the eyes of the law.

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