Control of Oppressive Interest Rates and Charges by Banks and the Relationship between Landlords and Tenants - The Urgent Imperative for Statutory Protection

IF 2 Q2 BUSINESS, FINANCE International Journal of Accounting Pub Date : 2020-08-21 DOI:10.47941/JACC.432

Con San Ll.D Babalola Afe Ofr, Clement C. Chigbo

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Abstract

Purpose: The purpose of the work is to examine the ways by which the court and legislature can control critical interest rates on loan bargains and legislation can be used to exercise/impose a significant legal control over the relationship between landlords and residential/occupiers. Methodology: The paper adopts the doctrinal research methodology/ approach of reviewing cases and statutes and international instruments in aiming at a valid conclusion. Emphasis were placed on statutes and case laws as primary sources. Relevance was as well placed on journal, articles, text books, internet materials, among others as secondary materials. Findings : The paper finds that many Nigerians will be exposed to unmitigated hardship and suffering during this era of covid-19 pandemic as a result of lockdown and restrictions imposed by the government in the effort and measures to contain and curb the spread of the coronavirus. Unique contribution to theory, policy and practice: The paper urges the government to adopt as a primary political objective- the use of legislation to ameliorate the plight of Nigerians in the loan bargain sector and in the residential (housing) sector. In this regard, the paper contributes to practice and policy of government by using law as an instrument of social engineering

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银行压迫性利率和收费的控制与房东和租客的关系——法律保护的迫切需要

目的:这项工作的目的是研究法院和立法机关如何控制贷款交易的关键利率，以及立法可以用来对房东和住宅/占用者之间的关系行使/施加重要的法律控制。方法:本文采用理论研究方法/方法，审查案例，法规和国际文书，旨在得出有效的结论。重点放在成文法和判例法作为主要来源。与期刊、文章、教科书、互联网材料以及其他辅助材料的相关性也很好。研究结果:本文发现，由于政府在遏制和遏制冠状病毒传播的努力和措施中实施的封锁和限制，许多尼日利亚人在covid-19大流行时期将面临极大的困难和痛苦。对理论、政策和实践的独特贡献:本文敦促政府将立法作为主要的政治目标，以改善尼日利亚人在贷款交易部门和住宅(住房)部门的困境。在这方面，本文将法律作为社会工程的工具，为政府的实践和政策做出贡献

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来源期刊

International Journal of Accounting BUSINESS, FINANCE-

CiteScore

1.20

自引率

0.00%

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期刊介绍： The aim of The International Journal of Accounting is to advance the academic and professional understanding of accounting theory, policies and practice from the international perspective and viewpoint. The Journal editorial recognizes that international accounting is influenced by a variety of forces, e.g., governmental, political and economic. Thus, the primary criterion for manuscript evaluation is the incremental contribution to international accounting literature and the forces that impact the field. The Journal aims at understanding the present and potential ability of accounting to aid in analyzing and interpreting international economic transactions and the economic consequences of such reporting. These transactions may be within a profit or non-profit environment. The Journal encourages a broad view of the origins and development of accounting with an emphasis on its functions in an increasingly interdependent global economy. The Journal also welcomes manuscripts that help explain current international accounting practices, with related theoretical justifications, and identify criticisms of current policies and practice. Other than occasional commissioned papers or special issues, all the manuscripts published in the Journal are selected by the editors after the normal double-blind refereeing process.