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.
The Legalnaija Blawg
Nigeria's 1st online legal education platform.
The Nigerian Blawg
Using innovative ways to empower Nigerians with legal information.
Follow @Legalnaija On Social Media
Your Favourite Law Blawg
The Legalnaija Blawg
Legal information at your finger tips.
The Nigerian Blawg
The 1st online legal education platform.
Sep 29, 2016
Sep 20, 2016
Freedom of Expression and the Blogger under Nigerian Law - Timothy Tion
By Legalnaija 9:55 AM
1999 CONSTITUTION OF THE FEDERAL REPUBLIC OF NIGERIA, Blogger, Criminal Code Act, Cybercrime Act 2015, Economic and financial Crimes Commission (EFCC), Freedom of Expression, Penal Code Act.
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.
By Legalnaija 5:37 AM
Arbitration, Arbitration Act, Business law & Startups, Chartered Institute of Arbitration
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
By Legalnaija 4:55 AM
Business law & Startups., Companies Income Tax Act - 2007, Personal Income Tax Act – 2011, tax administration, tax law
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
By Legalnaija 5:39 AM
Federal High court, Govt & Administration, Nigerian Criminal Justice Sysytem, Plea Bargain
The Concept Of Plea Bargain As A
Veritable Tool For Justice Or Corruption Under The Nigerian Criminal Justice
System
Introduction
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?
Sep 12, 2016
Sep 9, 2016
Efficiency, Liquidity and Profitability in the Nigerian Power Sector; The Challenges Faced - Chukwudi Ofili
By Legalnaija 10:23 AM
Business law & Startups, DisCos, Efficiency, GenCos, Liquidity and Profitability in the Nigerian Power Sector
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
By Legalnaija 5:22 AM
Business law & Startups, Detail Commercial Solicitors, mobile network operators (MNO), value added service (VAS)
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
By Legalnaija 6:11 AM
Business law & Startups., Companies and Allied Matters Act (CAMA), Corporate Affairs Commission, Ministry of Trade & Investment
“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
By Legalnaija 4:29 AM
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
By Legalnaija 10:21 AM
Business law & Startups, Damages, Land, Mesne Profits, Occupation of land, tenancy
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
An Analysis of The Federal Competition And Consumer Protection Bill 2015 - Oluyori Ehimony Jr.
AN
INTRODUCTION TO COMPETITION LAW AND POLICY: AN ANALYSIS ON THE FEDERAL
COMPETITION AND CONSUMER PROTECTION BILL. 2015. PROTECTING THE CONSUMER AND
ENLARGING THE MARKET.[1]
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
By Legalnaija 2:32 AM
Business law & Startups, franchise agreement (FA), Intellectual Property (IP), National Office for Technology Acquisition and Promotion (NOTAP) Act Cap. N62 LFN 2004, patent, service names, Trademarks
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.
By Legalnaija 10:09 AM
Business law & Startups, CBN, Central Bank of Nigeria, Corporate Governance, Dishonoured cheques, Government and Administration.
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
By Legalnaija 4:58 AM
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;