PUBLIC FINANCE

Monetization Policy in Nigeria

Monetization policy in Nigeria was conceptualized by the Obasanjo federal administration and is a system whereby the fringe benefits and non-pecuniary allowances of public servants as well as those of certain categories of political office holders are transmuted into cash. Under this monetization framework every allowance or government payment such as housing allowance, car allowance …

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Local Government Finance

Local government finance is the way and manner local government consolidate funds, manage the funds and control the funds. It involves getting to know the accounting system of the local government, types and methods of book keeping available to them. Local government authority being the government at the grassroots levels represents the basic unit through …

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Instruments of Monetary Policy

These include the tools or approaches which the monetary authorities can use to seek to achieve the objective of monetary policy. Instruments of monetary policy are classified into two: Quantitative instruments Qualitative instruments QUANTITATIVE INSTRUMENTS The quantitative instruments which are usually impartial and impersonal operate mainly by influencing the cost, volume, and availability of reserves …

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Value Added Tax (VAT)

This is a form of sales tax. Value Added Tax (VAT) is a tax not on the total value of the goods being sold, but only on the value added to it by the last seller. The seller therefore is liable to pay a tax not on its gross value but net value. That is, …

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