UTL Trust Management Services Limited has urged the National Assembly to ensure speedy passage of the Investment Trustees Bill into law, to enhance adoption of trusteeship in Nigeria.
Mrs. Olufunke Aiyepola, UTL Trust Managing Director, made the appeal at a news conference in Lagos.
Aiyepola said that passage of the proposed Trustees legislation to be made applicable across the federation would cure the anomalies of the subsisting Trustee Investment Act.
She also called for a more trust-friendly tax ecosystem that would reduce stamp duties for the transfer of assets, to encourage increased utilisation of trust solutions.
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Aiyepola said that an allowance for nominal stamping in security trusteeship transactions would ease the burden of borrowing costs for corporate entities.
She, however, urged government to ensure re-inclusion of trust arrangements in Pension Reform Act 2004.
Speaking on apathy to Will writing, Aiyepola said that the company had demystified the practice with its WillPower product.
She said that the company, in February, launched WillPower to discredit the myths surrounding Will writing in Nigeria and Africa as a whole.
According to her, WillPower, an online solution, is seamless and can be accessed from the privacy of the home and the business space.
