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A Critical Analysis of Nigeria’s Freedom of Information Act
0₦2,500.00Dr. Ifeoma Oluwasemilore, Lecturer, Department of Commercial and Industrial Law, Faculty of Law, University of Lagos in her article, A Critical Analysis of Nigeria’s Freedom of Information Act, examines the Freedom of Information Act (FOI Act) with special interest in its relevance in the country’s anti-corruption war. She examines the extent to which FOI Act had been implemented, the challenges confronting its applicability as well as the prospects of the Act. She contends that Freedom of Information is a fundamental indicator of economic development and progress, and recommends a strengthened implementation of the Act, adding that a strong Freedom of Information regime will enhance citizens’ demand for accountability and check corruption.
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A Review of the Nigeria Deposit Insurance Corporation’s Power as a Liquidator
0₦2,500.00Joseph Onele Partner, Primus Grace LP, in his article, A Review of the Nigeria Deposit Insurance Corporation’s Power as a Liquidator considers the appropriateness of the Nigeria Deposit Insurance Corporation filing a petition for winding up of a failed bank in the face of an action challenging the revocation of the banking licence of a failed insured institution; the authenticity of the postulation that where a failed bank is challenging the revocation of its banking licence, a petition for winding up of the bank should be stayed until the determination of the suit challenging the revocation and the veracity of the proposition that once the licence of a bank is revoked, it stands revoked until the revocation is set aside by an order of court.
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Admiralty Action in Rem: The Value of Security to be Furnished for the Release of an Arrested Vessel in Nigerian Admiralty Law
0₦2,500.00Dr Chukwuechefu Ukattah and Maryam Oyebode, Associates at Olaniwun Ajayi LP in their article “Admiralty Action in Rem: The Value of Security to Be Furnished for The Release of An Arrested Vessel in Nigerian Admiralty Law”, argue that an important attractiveness of an action in rem is the ability of a Claimant to arrest the vessel against whom he has a claim until sufficient security for her bail is provided by her owners. There have been discordant tunes among the courts on the value of the security to be furnished for an arrested vessel. The article argues that recent decisions by the Nigerian Court of Appeal, heavily influenced by the decision of Brandon J in the English case of The Moschanthy, were reached per incuriamas the Court failed to follow earlier decisions of the Supreme Court on the subject, and are contrary to the clear provisions of the Admiralty Jurisdiction Procedure Rules 2011.
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An Analysis of Liabilities for Misstatement in Prospectus in Public Offer for Securities in Nigeria
0₦2,500.00Akin Oluwadayisi, Lecturer, Commercial Law Department, Adekunle Ajasin University, Akungba-Akoko in “An Analysis of Liabilities for misstatement in Prospectus in Public Offer of Securities in Nigeria” discusses the liability of officers of a company and professionals for untrue statements in Prospectus in public offer of securities. He argues that individual liability now provided for by regulations is necessary to ensure professionalism and prevent fraud and abuse.
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An Assessment of Nigerian Law on Take-Over Defences
0₦2,500.00Tiwalola Osazuwa, Chioma Olibie, and Tobenna Nwosu, all of Aelex in their article, An Assessment of Nigerian Law on Take-Over Defences, note that take-overs in Nigeria tend to be negotiated rather than forced. In the rare instance that a take-over starts off hostile, it is likely to be resolved into a friendly take-over. Though hostile take-over is unrecognised by statute in Nigeria, Osazuwa et al examine the framework for take-overs through the lens of corporate law. They consider take-over devices and defences and well-known anti-takeover strategies.
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An Assessment of the Legal Framework for the Protection of Users of Automated Teller Machines in Nigeria
0₦2,500.00Dr Festus Ukwueze and Chidubem Akubue-Izundu of the Faculty of Law University of Nigeria Enugu Nigeria in their article, An Assessment of the Legal Framework for the Protection of Users of Automated Teller Machines in Nigeria, note the convenience and benefits of ATMs: faster cash withdrawals, easy fund transfer, convenient payment of utility bills. There are, however, challenges, mainly fraud and technical issues associated with the use of these non-human agents. Dr Ukwueze and Akubue-Izundu comprehensively review the relevant legal instruments regulating the use of ATMs in Nigeria. They posit that the laws and policies relating to ATMs’ operations are inadequate and proffer suggestions on measures to be put in place to strengthen the protection and confidence of users of ATMs in the country.
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An Examination of the Effect of the Acquisition of An Eligible Bank Asset of an Insolvent Company by AMCON on the Status of the Company’s Liquidator
0₦2,500.00Lawrence Ochulor, Associate at Babalakin & Co. Lagos Nigeria, in his article, An Examination of the Effect of the Acquisition of An Eligible Bank Asset of an Insolvent Company by AMCON on the Status of the Company’s Liquidator, considers the acquisition of an eligible bank asset by AMCON and the legal implications of the acquisition on the status of a liquidator specifically appointed for liquidating the affairs of a debtor company. Lawrence interrogates the traditional rights of a mortgagee in a typical loan/mortgage transaction, the interest vested in AMCON on the acquisition of an eligible bank asset, whether AMCON acquires and could exercise more rights than its predecessor in title concerning the acquired bank asset, the status of a liquidator appointed for a debtor company, and whether AMCON’s acquisition of the eligible bank asset truncates the liquidator’s appointment
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An Overview of Imposition of Tax on Turnover of Business in Nigeria
0₦2,500.00In “An Overview of Imposition of Tax on Turnover of Business in Nigeria” Dr. Kareem Adedokun of the Kwara State University argues that subjecting the Turnover of Business, rather than its profit, to tax is a necessary anti-avoidance rule and compatible with the status of Nigeria as a democratic country.
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An Overview of Some Compliance Regulations for American Citizens or Permanent Residents doing Business in Nigeria
0₦2,500.00Joseph Munis, gives an overview of some compliance regulations that apply to American citizens and permanent residents doing business in Nigeria in An Overview of some Compliance Regulations for American Citizens or Permanent Citizens doing Business in Nigeria. U.S. laws are complex and highly unusual in their attempt to extend the reach of the organs of enforcement beyond the country’s borders. The tax and related laws which are essentially enforced by the Internal Revenue Service of the Treasury Department cast a long shadow to all corners of the world. The recent indictment of FIFA officials using the US legal system is a demonstration of this reach. The U.S. has statutes where there are extraterritorial provisions that can reach foreign citizens, US citizens and residents, if they violate certain laws. For these to be applied, there has to be a jurisdictional touch requiring that some aspect of law broken falls within the United States’ jurisdiction.
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Book Review: Commercial Law in Nigeria: Sale of Goods
0₦2,500.00Dr. Ndubuisi Nwafor offers a comprehensive review of a work by a renowned author on Commercial Law in Nigeria. The Book – Commercial Law in Nigeria: Sale of Goods published in 2023 offers a comprehensive exploration of the intricate landscape of the sale of goods under commercial law within the Nigerian context. Structurally organised in eleven chapters, each delving into a distinct subject of sale of goods, the book offers a source of interesting reading by students, practitioners and members of the judiciary.
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Central Bank of Nigeria 2016 Guidelines for Banking Operations in the Free Zones: Need for Caution
0₦2,500.00Joseph Onele, Legal Practitioner, Olaniwun Ajayi LP in his article “Central Bank of Nigeria 2016 Guidelines for Banking Operations in The Free Zones: Need for Caution”, analyses the CBN Guidelines vis-à-vis the provisions of the Bank and Other Financial Institutions Act (BOFIA), and the Nigeria Export Processing Zones Act. Would branches of a bank with valid banking license be able to operate in the free trade zones or would an existing branch of a bank have to become a subsidiary of the parent bank to be able to operate? Can the CBN by its Guidelines extend the frontiers of BOFIA? Onele in his usual inimitable style considers all sides of the argument and urges a need for caution.
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Commentaries and Analysis on Nigeria’s Trade Marks Act
0₦2,500.00Professor Adebambo Adewopo SAN, of the Nigerian Institute of Advanced Legal Studies, and former Director-General, Nigerian Copyright Commission in his brilliant review of Mark Mordi’s new book titled ‘Commentaries and Analysis on Nigeria’s Trade Marks Act’, highlights that the book, a practitioner’s companion, effectively combines the qualitative, quantitative, analytical and conceptual research models to explore the Trade Marks Act landscape.
