Background:
Economies
across the globe have begun responding to the Covid-19 pandemic
not only medically but in economic terms, with various monetary and
fiscal interventions being implemented. Nigeria is not left out
with some monetary and fiscal measures having recently been
announced or implemented by the Executive Arm of the Federal
Government of Nigeria. The latest in the Nigerian offing is its
legislative response, styled, the Emergency Economic Stimulus Bill,
2020 (the "Bill"). The Bill was passed
by the House of Representatives (the
"House") of the Nigerian National
Assembly on March 24, 2020. By virtue of Nigeria's bi-camera
legislature, the Bill is now before the Nigerian Senate. The Bill
is long-titled, "A Bill for an Act to provide for Relief on
Corporate Tax Liability, Suspension of Import Duty on Selected
Goods and Deferral of Residential Mortgage Obligations to the
Federal Mortgage Bank of Nigeria for affixed term to protect jobs
and alleviate
