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Changing Parameters in Budget 2012
Initially, the money bill proposed an aggregate expenditure of N4.749 trillion, which is a modest increase of six per cent over the N4.484 trillion appropriated for 2011. It was also based on a set of...
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Budget 2012 in Nigeria
President Goodluck Jonathan presented the 2012 Appropriation Bill to a joint session of the National Assembly on December 13, 2011. As has been the tradition over the years, it was branded “a budget...
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Budget 2012: Citizens Wealth Platform
As has been the trend over the years, the National Assembly may not dig deep enough to discover other areas where the government may have to cut down on its proposed expenditure for the year....
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Budget 2012: Statutory Transfers
The memorandum observed that the budget made provisions for transfer of lump sums of money to certain organisations which are on first line charge without any details or disaggregation that would...
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Budget 2012: Computers and Vehicles
On the request for computers, printers, software and other office equipment, the report said the demand was not only over bloated, but has been a recurring decimal over the years. Again, the Citizens...
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Outside The Budget-2012
The Citizens Wealth Platform also dwelt on other cost cutting issues outside the budget and made recommendations on how government can handle them. It observed that part of the problem of bloated cost...
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Islamic Banking Divides Nigerian Religious Leaders
Nigeria is introducing Islamic banking to bring more of the nation’s estimated 70 million Muslims into the economy. But many prominent Christian leaders say it will further inflame religious violence....
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Islamic Banking Gaining Foothold in Nigeria
The banking sector in Nigeria, Africa’s most populous country, has hardly had time to digest the “Guidelines on Shariah Governance for Non-interest Financial Institutions in Nigeria” and the...
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Modes of Islamic Finance
The Modes of Islamic Finance are mentioned bellow: Murabaha Literally it means a sale on mutually agreed profit. Technically, it is a contract of sale in which the seller declares his cost and profit....
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Introduction To Islamic Banking
The thrust for Islamic Banking is founded on the desire to submit to the Divine Instructions on all transactions, particularly those involving exchange of money for money. However, it would be quite...
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Conventional and Islamic Banking
The first Islamic bank was founded in Egypt in 1963. Founding of that and other banks that committed to operation on the Shari’ah principles (Islamic religious law that strictly forbids operation with...
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Understanding Islamic Banking: Prospects and Challenges
While the global crisis is casting its shadows on Europe, and the Islamist appeal is gaining more ground in Arab countries, the appetite for Islamic banking is growing stronger among customers and...
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Islamic Banking in Nigeria Will Address Financial Deficit – Jaiz Bank MD
Despite the many controversies that surrounded the introduction of Islamic banking in Nigeria, it has come to stay and will address various financing deficits that have hindered the growth and...
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Nigerian Islamic Banking
Islamic banking has the same purpose as conventional banking except that it operates in accordance with the rules of Sharia, known as Fiqh al-Muamalat (Islamic rules on transactions). The basic...
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A Nigerian Approach to Islamic Banking
All that we had borrowed up to 1985 was around $5 billion, and we have paid about $16 billion; yet we are still being told that we owe about $28 billion. That $28 billion came about because of the...
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How Does Islamic Finance Differ from Conventional Finance?
First of all both forms of financing share identical goals of providing credit and financial services to individuals and businesses and operate with the aim of making profit. It is the means of making...
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