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The bank became an integral part of the European System of Central Banks (ESCB) after Malta joined the European Union on 1st May 2004. The main mission of the bank is to ensure a sound financial system, thereby contributing to a healthy economic development. The main objectives of the bank are as follows:
The administration of the bank is in the hands of a Board of Directors. A Governor heads the Board of Directors and is also its Chairman. Besides the Governor, the Deputy Governor and five other Directors constitute the board.
In Nigeria, as well as around the world, a majority of taxpayers view tax not as a contractual contribution to government expense, but as an involuntary tribute to be paid to avoid prosecution and penalty. Merely transcribing taxes from economic textbooks into local law will not work; tax regimes have to be developed from within the society, and targeted at the peculiar needs of the government. Tax policies have to be written by the people – and for the people. Only then would a sense of participation and expectation be truly generated, and the tax system manifestly effective. Read more
Joseph E. Stiglitz,
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