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Examining the Validity of the Taxes and Levies (Approved List For Collection) Act (Amendment) Order 2015
0₦2,500.00Professor Meshach Umenweke of the Nnamdi Azikiwe University Awka, and Kenneth Ezeibe, legal practitioner, in their article “Examining the Validity of the Taxes and Levies (Approved List For Collection) Act (Amendment) Order 2015”, consider whether the Minister of Finance has the vires to amend the Schedule to the principal Act, and whether the items listed in the Order are consistent with the legislative and taxing powers of each tier of government under the Constitution.
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Expanding the Frontiers of Corporate Environmental Liability: The Case of Okpabi v Royal Dutch Shell Plc
0₦2,500.00Similoluwa Daramola, in her paper, Expanding the Frontiers of Corporate Environmental Liability: The Case of Okpabi v Royal Dutch Shell Plc, which reviews the English case, considers the implications of the case and the court’s decision on the concept of the parent company liability under the common law duty of care. The case expands the frontiers of corporate environmental liability in terms of holding parent multinational companies liable for the environmental activities of their subsidiary companies in other parts of the world. Similoluwa argues that the decision is vital in promoting the environmental goals of the United Nations in developing countries like Nigeria, where multinational companies often maintain lower standards of operations.
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Expanding the Frontiers of Nigerian Copyright Laws in the Age of Social Media
0₦2,500.00Nkem Itanyi, Lecturer, Department of Commercial and Corporate Law, University of Nigeria, Nsukka and Chinelo Ngwu, Associate, Olaniwun Ajayi LP in their article, “Expanding the Frontiers of Nigerian Copyright Laws in the Age of Social Media, note that though social media promotes intellectual creativity, and is a minefield of ideas which can be deployed into important works, works in the digital formal may or may not be protected under the Nigerian Copyright Act. As the fixation concept has become obsolete with technology, it becomes difficult to sustain as a pre-requisite for the qualification of a creation as a copyright work since intangibility and a transitory nature are common features of works placed on the internet. To cope with new infringement mechanisms in the digital era and conflict of law problems, it may be necessary to fix certain duties, such as duty to give notice of illegal activities, and duty of identification of infringers, on online service providers just like other countries have done.
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Exploring the Contractor’s Compensation Options for Extra Work with no Formal Variation Instruction
0₦2,500.00Osinachi Nwandem, an Associate at ǼLEX, in his article, Exploring the Contractor’s Compensation Options for Extra Work with no Formal Variation Instruction, notes that most construction contracts entitle the contractor to compensation for extra work performed so far as the employer issued a formal variation instruction under the contract. The unfortunate implication is that the contractor may not receive compensation for additional works done, if the contractor performed the extra work upon the oral instructions of the employer. Osinachi reviews Nigerian and foreign authorities on the issue of extra work done when there was no formal variation instruction and proffers the options available to a contractor to successfully recover compensation in such instances.
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Exploring the Juridical Limits of Name Sharing in Trade Mark Law & Practice
0₦2,500.00Professor Adebambo Adewopo,in his article, Exploring the Juridical Limits of Name Sharing in Trade Mark Law & Practice explores the trend of sharing the same name by different undertakings in the rapidly growing and competitive Nigerian market environment. Prof Adewopo deconstructs the juridical bases for sharing the same name and posits that such use is not inconsistent with established tenets of trademark law and practice. Adewopo surveys the legal landscape of name-sharing in the key circumstances where entities may be permitted to use the same trademark in respect of the same or different products. The article situates and rests the existing law and jurisprudence of trademark-sharing on two pillars, namely the classical trademark function and the bona fide use principles.
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Exploring the Requirement of Capital Adequacy and Bank Stability in Nigeria
0₦2,500.00Dr Chinenyeze Amaechi of the Faculty of Law, Imo State University, Owerri in his article “Exploring the Requirement of Capital Adequacy and Banking Stability in Nigeria” explores the world of bank failures beyond capital adequacy. He argues that in spite of the fact that Nigerian banks have been implementing capital standards that are above the Basel minimum requirements, bank failures are still threateningly close due to inadequate regulatory measures, high rate of non-performing loans and corporate governance failures. He contends that the macroprudential and stabilising impact of the Asset Management Corporation of Nigeria, AMCON, in mopping up banks’ toxic loans has been blighted by controversies surrounding transparency issues and in leaving rescued banks without working capital.
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External Restructuring under the Securities and Exchange Commission’s Rules: A Critique
0₦2,500.00Fidelis Adewole, Partner, Elias & Co in “External Restructuring under the Securities and Exchange Commission’s Rules: A Critique” scrutinises the provisions of the SEC Rules on “external restructuring” (ER) and argues that the provisions are vague, confusing and inadequate for the effective implementation of ER transactions. He posits that the provisions of the Companies and Allied Matters Act and the Investments and Securities Act are adequate to cover ER transactions and therefore the ER Provisions by the SEC are unnecessary just as the SEC has no power to make the Rules in the first place.
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Factoring Economic Approach into Environmental Protection in Nigeria
0₦2,500.00Dr Gina Elvis-Imo, Senior Lecturer, Faculty of Law, Niger Delta University, Bayelsa State in her article “Factoring Economic Approach into Environmental Protection in Nigeria” examines various approaches, voluntary, regulatory and economic, to environmental protection. She argues that while a regulatory approach to environmental protection may be indubitably indispensable, the economic approach addresses environmental problems not by prohibiting the polluting activity, but by discouraging such activities through the use of economic incentives and disincentives. The paper explores the synergy between both approaches, and the need to set entitlements as well as the protection of such entitlements, without which society may operate on the basis of ‘might makes right’.
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Financial Globalisation and its Consequential Impacts on the Nigerian Capital Market
0₦2,500.00Samuel Dunmade, in his article, Financial Globalisation and its Consequential Impacts on the Nigerian Capital Market, examines the concept of financial globalisation and its impact on the Nigerian capital market. The nexus between financial globalisation and the development of the Nigerian capital market has surged over the years. Much jurist ink has flown in analyzing the relative impact between financial globalisation and the development of the Nigerian capital market; in this regard, one school of thought posits that participating in the international markets may bring rewarding impacts on domestic economies, because it may spark a reaction among investors [international and domestic] and also encourage them to invest in the domestic markets. Another school of thought postulates that the internalization may lead to a steady movement of local liquidity to the international market in an epic event of liquidity agglomeration, which may lead to negative spill-over effects on domestic markets. Dunmade discusses the meaning, history and scope of financial globalization, the impact of financial globalisation in the Nigerian capital market, the role of capital market in the Nigerian economy, the policy and structural developments in the Nigerian capital market, the dissenting schools of thought on financial globalization, and the notable impacts of financial globalisation to capital market development.
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Forced Arbitrations: Rethinking Perspectives in Nigeria
0₦2,500.00Opemipo Omoyeni of the Graduate Institute of International and Development Studies Geneva Switzerland in his article, Forced Arbitrations: Rethinking Perspectives in Nigeria, considers the concept of Forced or Mandatory Arbitration which occurs mostly in standard form contracts where a party cannot be said to have acquiesced to the terms of the arbitration contract voluntarily. Omoyeni examines the state of the law in Nigeria, the United States of America, and the United Kingdom. Omoyeni posits that Forced Arbitration may work an injustice on the weaker party in an uneven bargaining position who is compelled to arbitrate his dispute while lacking the financial capacity or wherewithal to arbitrate, and who as well cannot be said to have given real consent to do so. He concludes with the need for legislation and the courts’ intervention to protect the weaker party.
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From Valucard to Upay Card: Examining the Nature, Abuses and Legal Implications of Payment Cards in Nigeria
0₦2,500.00Aina Salami, formerly Senior lecturer, Department of Public Law, University of Lagos and presently the Director-General, Bureau of Lands & Survey Ogun State, in his article, From Valucard to Upay Card: Examining the Nature, Abuses and Legal Implications of Payment Cards in Nigeria, examines the legal nature, types and abuses of payment cards in Nigeria. Given the potential abuses of card transactions, Salami explores some criminal offences relating to card transaction and advocates urgent institutional and regulatory reforms to accommodate global trends in payment systems.
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Further Issues on Pre-Emptive Remedies Under the Lagos State High Court (Civil Procedure) Rules 2019
0₦2,500.00Dr Muiz Banire SAN, Principal Partner of MA Banire and Associates, in his article, Further Issues on Pre-Emptive Remedies Under the Lagos State High Court (Civil Procedure) Rules 2019, notes the importance of the existence of the res prior to the institution of a suit and during its pendency. He explains that all courts possess the power to preserve the res in an action. The rationale is to ensure that the final order does not expose the court to a state of helplessness, leaving a victorious party with a mere empty and pyrrhic victory. A section of the High Court of Lagos State (Expeditious Disposal of Civil Cases) Practice Direction No. 2 of 2019 on Pre-action Protocol deals with pre-emptive remedies. Dr Banire, in the article, which is a sequel to the one published by The Gravitas Review in December 2021, explains the need for a proper application of preemptive remedies provision in the Practice Direction. He examines recent decisions of the High Court of Lagos State, which suggest that some Judges are yet to appreciate the essence and unique character of the preemptive remedy provisions.
