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Sep 29, 2016

Ashafa Says Senate Is Ready For 2017 Budget

The senator representing Lagos East at the 8th Session of the National Assembly, Senator Olugbenga Ashafa, on Thursday 29th September, 2016 highlighted some of the efforts of the National Assembly to assist the economy and also encourage more local content in the Nigerian economy. He also seized the opportunity to join his voice to the call by the Senate President on the executive to transmit the 2017 budget estimates to the National Assembly in good time.

Sep 20, 2016

Freedom of Expression and the Blogger under Nigerian Law - Timothy Tion

The recent arrest of Abubakar Sidiqu; a blogger, by operatives of the Economic and financial Crimes Commission (EFCC) supposedly because of a post which is critical of the EFCC Chairman has brought to the fore once again the issue of freedom of expression and defamation especially on the Internet. 

Sep 19, 2016

Taking steps frustrates Arbitration in Nigeria - kayode Omosehin Esq.

Preliminary View
Arbitration is an old dispute resolution mechanism. Some authors have traced its adoption to the reign of King Solomon in the Bible. It is recorded that the dispute between the two women over the living son was resolved by Kind Solomon in a manner consistent with arbitral proceedings. Modern arbitration has proved useful in many respects in commercial and industrial dispute settlement. Arbitration is partly regulated by law (in terms of form and procedure), it is however largely based on agreement by parties.

This Thing Called Tax; Another Commercial Jargon? - Omotayo Akorede

Recently, there have been a lot of news about tax avoidance and new legislations to this effect. Apart from the now ‘cliched’ decision of the EU Competition Commission’s decision against Apple for its tax policies in Ireland, earlier this week, Donald Trump the United States Republican presidential candidate announced that he will reduce the US corporate tax to 15% to boost the US economy if elected into power. Of course, this is seen by many as the usual politician’s rhetoric. Skeptics have argued that such a figure is unrealistic and will do nothing more than increase the national debt. 

Sep 15, 2016

The Concept Of Plea Bargain As A Veritable Tool For Justice Or Corruption - Adebayo Oluwaseyi Olayiwola

The Concept Of Plea Bargain As A Veritable Tool For Justice Or Corruption Under The Nigerian Criminal Justice System

The concept of Plea bargain has its origin in the United States of America as part of their belief that society is dynamic, so the law needs to keep up with it. The practice came about as a potent weapon in their criminal law jurisprudence. 

Sep 14, 2016

Risk of Doing Business in Nigeria; Depth of Local Knowledge is Key - Prince-Alex Iwu

Sometime in 2014, massive development began in one of the choice locations in Nigeria, Falomo Ikoyi. The developers were building a grand shopping mall in the very heart of Lagos, and they did not seem to be sparing any expense. Shortly after May 2015, work ground to an abrupt halt; what had happened?

Ivie Omoregie: Governor’s Consent & Perfecting Title to Your Landed Property

In light of the recent devaluation of the naira, there has been a lot of emphasis placed on PROPERTY. Many Nigerian’s in diaspora (living outside of Nigeria…) have used this opportunity to buy the kind of property they may have been eyeing for some time but previously unable to afford. 

Sep 12, 2016

Happy Eid Mubarak

Sep 9, 2016

Efficiency, Liquidity and Profitability in the Nigerian Power Sector; The Challenges Faced - Chukwudi Ofili

Nigeria, Africa’s biggest oil producer, continues to experience challenges within the power sector despite the huge outlay of funds and unprecedented reforms in the power sector. The bottleneck in the power sector adds to already existing issues such as the slump in oil prices and the foreign exchange issues that are currently threatening Nigeria’s role as a destination for investors. The challenges in the power sector are largely attributed to a lack of funds on the part of the generating companies (GenCos) and the distributing companies (DisCos). 

Reform of the Nigerian VAS Industry: The Good, The Bad & The Ugly – Detail Commercial Solicitors

A.   Introduction
A value added service (VAS) is any service other than voice calls provided over a mobile network to subscribers. In Nigeria, VAS is big business and the most popular VAS is probably caller ring back tunes. The Nigerian VAS industry, estimated to be worth $200 million in 2014, now has a value of $1 billion. Due to rapidly declining average revenue per user for voice calls, which since 2004 has decreased from just over $15 per month per subscriber to a new low of $4 due to the current economic crisis, mobile network operators (MNO) have increased efforts to generate revenue through VAS.

Possession Vs Ownership - Prince O Williams -Joel

The word possession in land law often coincides with ownership. Although the two words are often confused and majority of people take these words to mean the same thing but possession is not the same as ownership. Possession means having physical custody or control of a property with an intention to continuously retain the property, while ownership is the exclusive legal right to possesses something. 

Sep 8, 2016

Of Reforms, Revolutions and the Ministry of Trade & Investment: Amendment of the Companies and Allied Matters Act

“In the sense that he tackled the stifling role of government in our economy, Bibi was not a reformer but a revolutionary. A reform happens when you change the policy of government; a revolution happens when you change the mindset of a country…” Ron Dermer speaking about the financial-sector reforms implemented by Benjamin “Bibi” Netahanyu in Israel in 2003.

Policy And Regulatory Challenges Posed By Convergence In The Broadcasting Industry - Yahaya Maikori

Since the earliest days, the telecoms and broadcasting industries were seen as entirely separates industries. As such, the regulatory regimes that developed around them were based on specific technology platforms, with different rules for each distinctly perceived industry. This approach was widely followed around the world.

Sep 6, 2016

Redefining The Concept Of Damages For Use And Occupation Of Land And Mesne Profits - Tanimola Anjorin

Redefining The Concept Of Damages For Use And Occupation Of Land And Mesne Profits[1] -

          For starters, it should be noted that the concept of damages for use and occupation of land is a remedy available to the Landowner/Landlord in the event that a contractual tenancy ceases to exist and the tenant/occupier thereafter enjoys statutory protection under the Law[2]. By all standards, the requirement to pay compensation for use and occupation of land is only applicable to a tenant[3]

Sep 5, 2016

The Importance Of Registering A Business - Adeolu Adesuyi Esq.

The importance of registering a business can never be over-emphasized. For one, when it comes to doing serious business, many agencies will never take you serious if your company is not registered.

An Analysis of The Federal Competition And Consumer Protection Bill 2015 - Oluyori Ehimony Jr.

In Market economies, there is inherent danger that market players may distort or even eliminate competition in order to maximize profits, or in order to acquire and abuse their market power. This has demanded legislative and policy intervention and for many countries, such intervention has taken the form of competition law and policy. In its simplest form, competition law and policy aims at playing the role of an umpire in what may conveniently be regarded as a market jungle, where financial might is right and profits can be made by unscrupulous manufacturers, often at the consumers chagrin.

Franchising: A Pathway To Entrepreneurial Success In Nigeria - Franklin Okeke

Franchising is a business model that businesses use to expand their brand and operational footprint. A franchisor is a company, business or person that has developed a system/name and grants a third party the right to operate a business under the system and name in consideration of fees from the third party. According to the International Franchise Association, a franchise is “the agreement or license between two legally independent parties which gives: a person or group of people (franchisee) the right to market a product or service using the trademark or trade name of another business (franchisor); the franchisee the right to market a product or service using the trademark or trade name of another business.’’ The essence is to enable the franchisee enjoy commercial success in his business by ‘riding on the coat tails’ of the franchisor. There is usually a fee (the ‘franchise fee’ or royalty) attached to the use of the system.  

Sep 1, 2016

New CBN Guidelines For Banks On The Treatment Of Dishonoured Or Dud Cheques - Bolanle Oduntan, Esq.

The Central Bank of Nigeria has issued new guidelines to all banks on dishonoured or dud cheques. It is instructive for individuals and businesses to understand these guidelines which take effect from 28th June, 2016 and the consequence of issuing dud cheques.

As reported in the media, the CBN has installed additional regulatory measures against the issuance of dud cheques by individuals and corporate customers in other to strengthen the confidence and integrity of negotiable instruments issued within the country. The key points to note in the new CBN Guidelines are that all banks are mandated to;

Reinforcing The Freedom Of Information Act Through Digital Citizens Engagement

In any democracy, citizen participation is a basic principle because governments derive their authority and power from the people. Therefore, Governments have an obligation—and not just the discretion—to respond to the needs of the People while Citizens have both the right and the responsibility to demand accountability and to ensure that government acts in their best interests. It is guaranteed by Section 14 of the Constitution of the Federal Republic of Nigeria that;