Annual general meetings provide the forum for taking decisions that affect the company.
This write up seeks to analyse the new National Code of Corporate Governance vis-a-vis the existing Code of Corporate Governance for Public Companies in Nigeria and the Code of Corporate Governance for Banks and Discount Houses.
It thus means that if I were a customer of Diamond Bank and I had deposits in the bank prior to the merger; after the merger, I automatically become a customer in the merged entity.
After profits from all sources are added into the Tax basket, the exempted profits, deductions allowed and all allowances like Capital Allowances, Rural Investment Allowance, etc are removed from the basket. The remaining profits in the Tax basket – Taxable Income, are then subjected to Companies Income Tax rate of 30% in Nigeria.
“A company is a corporate legal person and its distinct feature is that it is a separate and distinct person from those that constitute the company”