Advantages Of Securitisation In Nigeria

A special purpose entity (SPE) is a business interest formed in order to perform a specific task or tasks. SPE’s are also referred to as off-balance sheet arrangements. SPE’s are formed to 1). Finance certain assets or services and keeping the associated debt off the balance sheet of the sponsors, 2).Transform certain financial assets, such as trade receivables, loans, or mortgages, into liquid securities, and 3). Engage in tax-free exchanges (Saroosh, 2004). Most of the SPE’s in the U.S. have been organized as limited liability corporations (LLC). A trust is also a common SPE in the U.S.

Corporate Bonds are the financial instruments through which corporates can raise capital by borrowing money from investors. In return company pays interest on the principal. And the principal is returned to the lender after pre-determine period also called as maturity. It is more cost effective to raise money through bonds than through equity. Even if the company is going through a difficult financial crisis, it still has a legal commitment to pay interest and principal to lenders. Bond investors have priority over shareholders on the company’s properties in case of bankruptcy. Companies issue bonds for a variety of purposes, including buying new assets, investing in research and development, refinancing debt, or financing mergers and acquisitions.

This study will use securitisation theory and documentary analysis to find that increased security from terrorism in the aftermath of the terrorist attacks of September 11, 2001 (9/11) terrorism took precedence over the civil liberties of privacy and freedom. This paper focuses on how the George W. Bush Administration, hereby referred to as the Bush Administration, successfully justified the infringement of civil liberties post-9/11 although it will also include the revelations of Snowden in 2013 and how this impacted on public opinion. Bush used religious discourse following 9/11 to manipulate public opinion and create a “powerful spirit of unity” (Garfinkle, 2005). Security will be defined as political security, as described by the

This case study describes the IPO of Bajaj Corp Ltd., the second largest company in the Shishir Bajaj Group of companies. It also enlists the objectives and the process of the IPO, issued on 02-08-2010. It describes the merchant bankers and underwriters involved, and discuss post-issue effects on the company.

In making the case for securitisation, scholars establish the substantial security risks of an outbreak which makes a security-based approach more appropriate, and highlight the substantial amount of resources and awareness that flows from, and is justified by, the securitisation process. On the first contention, It is argued that national borders are weakened by globalisation, allowing infectious diseases to spread at an alarming rate around the world, as demonstrated by the 2003 SARS pandemic. This allows diseases to have the capacity to detrimentally affect the stability and survival of virtually any country or region, and the effects of such instability detrimentally affect the security of many other states. Additionally, with the

Private security is growing rapidly throughout several countries. Usually security is militarized to assist with the rise in criminal activity mostly in the urban areas in Trinidad and Tobago. Although the private security continues to answer the call when it comes to forces of globalization and privatization of the challenges of public security and its limited resources (Anyanwu 2012).

It was determined that the liquidation of $209 million in cash and marketable securities and the addition of $50 million in long-term would result in a capital structure which was reasonable and sustainable. Overall, tax expense would be lower, the value of the firm would increase and the riskiness of the company’s equity would edge just a touch higher.

The Securities and Exchange Commission’s mission is to “protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.” The purpose of this paper is to examine three recent federal security laws to see if they uphold all parts of the SEC’s mission. The three laws to examine are Sarbanes Oxley Act (2002); Emergency Economic Recovery Stabilization Act (2008); and Dodd Frank Wall Street Reform and Consumer Protection Act (2010).

Though bonds provide such safety, their yields are very low and have little potential for capital appreciation in the long-run for both the issuer and receiver. Besides, the low interest-rate of bonds makes the return on holding cash virtually non-existent (Voya & Scotia, 2009). Convertible bonds, however, offer a middle ground between the safety of bonds and the upside potential, and risk, of stocks. For this firm seeking income, higher-yielding convertibles bonds are the right options they can explore. This allows for the downside protection of a

EXECUTIVE SUMMARY 1. INTRODUCTION 2. NATURE OF CONVERTIBLE BONDS 3. FINANCIAL ADVANTAGES AND DISADVANTAGES 3.1 3.2 ADVANTAGES DISADVANTAGES

Intending foreign owned companies must get Business permit, expatriate quota and fulfil all other incorporation conditions required by CAC as well as fulfil all licencing conditions stipulated by Nigerian Communications Commission through its 2003 Act.

The issuance of risk-linked securities is a great strategy in supplementing traditional reinsurance, but these bonds still need to prove their value in the long-run.

As discussed earlier, research on the internationalisation of Nigerian firm’s is still under-explored and scant in the literature. In fact, few studies have research internationalisation phenomenon have studied it on the perspective of the banking sector (Amungo in Adeleye, White, & Boso, 2016, pp. 69-91), “examining the factors influencing the international expansion of Nigerian banks” finds that Nigerian banks internationalisation is influenced by home country regulations and the domestic competitive pressure, managerial intentionality and risk diversification. Similarly, Boojihawon and Acholonu (2013) on the study of “the internationalisation of African banks” shows that the consolidation and recapitalization program in the banking sector 2004 motives Nigerian banks embark on foreign expansion. This is an indication that SSA firms deserves a focus in the international business research, because of the region diversity in terms of resources, political systems, cultural diversity and economic structures (Initiative for Global Development and Dalberg Global Development, 2011).

The question of an acceptable formula for revenue sharing among the component tiers of the Nigerian nation is one of the most protracted and controversial debates in the political and macroeconomic management of the economy. This debate has its foundations in the history and evolution of the Nigerian federation.

In the aftermath of the economic recession which pulled down many global banks and exposed multiple weaknesses in regulation and banking structures, the Basel Committee on Banking Supervision agreed to new rules on the minimum level (capital ratio) and composite structure of Banks capital on the 12th of September, 2010. Broadly speaking, the new rules which are widely referred to as Basel III (and are mainly Basel II plus new regulations based on lessons from the market crisis), still stipulate a minimum Total Capital Ratio of 8%. However, in addition to increasing the portion of the 8% requirement that is Core Tier 1 Capital (from 2% to