By Pam Moses
The Chief Executive officer of La_Shipson Construction Nig. Ltd. Hon. Moses Godia Shipi has announced the increased of the company’s shares from 1,000,000 Ordinary Shared to 10,000,000 million Ordinary Shares.
Shipi in a Press Statement said the share increase follows fiscal policy changes by the Central Bank of Nigeria.
The CBN policies are centered toward enslaving the masses and killing indigenous companies, he said.
The Bauchi born businessman regretted the slow housing development in Nigeria caused by High Bank Interest Rate of 30%, High Exchange Rate #360 to a dollar and High VAT Rate of 7.5%.
Other challenges he added are High recapitalization rate of One (1) Billion Naira for Micro Finance Banks, and High Rate for cashless policies (ranging from 2% to 5%l.
Shipi therefore called on the Federal Government to review the policies for meaningful development to thrive in country.