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   Market Date: 27-11-2014   
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Proshare Law

  1. Foreign Exchange Payments in Nigeria - Legal Alert - July 2014


    Despite continuing trade liberalisation, divergent opinions remain as to whether goods and services can be paid for in a foreign currency in Nigeria? This divergence in opinion is easily resolved by a review of the provisions of the Central Bank of Nigeri
  2. Mergers, Acquisitions, and Business Combinations viz-a-viz Competition/Anti-Trust Rules Under ISA 2007


    This paper argues that Nigeria needs an independent governmental agency such as the Federal Trade Commission's Bureau of Competition as obtains in the United States, which is to enforce Nigerian antitrust laws.
  3. Acquisition of Copyright in Nigeria: YENI ANIKULAPO-KUTI vs T.M. ISELI, (2003-2007) 5 I.P.L.R. REVISITED


    In Yeni Akikulapo-Kuti v. T.M. Iseli (2003-2007) 5 IPLR, the court granted a perpetual injunction under the Copyright Act of Nigeria, Cap C28, Laws of the Federation of Nigeria, 2004 (“Copyright Act”). While the decision may be right, we examine the right
  4. Revival of Substance over Form Rule in Nigerian Company Law: ECONET WIRELESS (NIG.) LTD. vs ECONET WIRELESS LTD. (2014) 7 NWLR (PT 1405) 1. -


    In the aftermath of the Supreme Court’s decision in Agip (Nigeria) Ltd v Agip Petroli International (2010) 5 NWLR (Pt 1187) 348, Osaro Eghobamien, SAN had lamented that form prevailed over substance in the field of company law jurisprudence in Nigeria.
  5. Revisiting First City Properties Ltd vs Huawei Technologies: Use of Experts before Nigerian Courts


    Effective Preparation of Experts, Expert Opinions, Expert Testimonies, and/or Expert Witnesses Before Nigerian Courts
  6. The Amount to be Disgorged based on Insider Trading Liability


    THE FULL AMOUNT TO BE DISGORGED BASED ON INSIDER TRADING LIABILITY: ANOTHER LOOK AT SECURITIES AND EXCHANGE COMMISSION, — v. — JOSEPH CONTORINIS, Docket No. 12‐1723‐cv, UNITED STATES COURT OF APPEALS FOR THE SECOND CIRCUIT, Decided: February 1
  7. Supreme Court’s Reversal of High-Profile Politician’s Conviction


    In December 2013 the Supreme Court reversed the Court of Appeal's decision affirming the conviction of a high-profile political appointee, Bode George, for improprieties while in office.
  8. Will companies become liable under criminal law?


    In September 2013 the North Rhine Westphalia state government presented a bill to introduce a criminal code for organisations on a federal level. In contrast to existing applicable law, it provides for criminal liability of legal entities and partnerships
  9. Enlargement of Rights of Appeal from the Decision of the Nigerian National Industrial Court


    ENLARGEMENT OF RIGHTS OF APPEAL FROM THE DECISIONS OF THE NIGERIAN NATIONAL INDUSTRIAL COURT
  10. Criminally liable legal persons prohibited from entering into public sector contracts


    Under Spanish law, any legal person convicted of a criminal offence(1) is banned from entering into contracts with the Spanish public administration.
  11. Cyber Security, Risks And Crimes - Dec 2013


    Associated with the enormous benefits that the internet continues to bring to mankind, are numerous Risks which global governments are using legislation to ensure that public confidence in modern Commerce and Governance, over the internet, does not dimini
  12. Music Copyright, Collecting Societies - Nov 2013


    A copyright to an original artistic or other intellectual work is the exclusive proprietary right that the owner to such an original work has to exclusively control the commercial exploitation of such a work, by members of the public.
  13. A Critique of the sanctity of OPL & OML within the context of the NNPC


    A CRITIQUE OF THE SANCTITY OF OIL PROSPECTING LICENSES (OPL) AND OIL MINING LEASES (OML) IN NIGERIA: WITHIN THE CONTEXT OF NIGERIAN NATIONAL PETROLEUM CORPORATION (NNPC) VS FAMFA OIL LIMITED, (2012) 17 N.W.L.R. Pt 148/(2012) C.L.R. 5(a)(SC)
  14. Expatriates’ Pension Benefits in Nigeria - Oct 2013


    In addition to a monthly remuneration, there are other benefits that accrue to every employee in Nigeria, including expatriate employees. Some of these benefits include compensation under the Pension Reform Act, 2004 (as amended); the Employees’ Compensat
  15. Case Law – Hotel Regulations – States or Federal GovT Authority- Sept 2013


    On the 9th day of July 2013, the Supreme Court of Nigeria delivered its Judgement on the validity or otherwise of the Lagos State Hotel Licensing Law 2003, the 2009 Hotel Occupancy and Restaurant Consumption Tax Law of Lagos State, and the 2010 Hotel Lice
  16. Credit and Debit Card Payment – Regulations and Laws - Sept 2013


    To curb money laundering, corruption and tax evasion, the Nigerian apex regulatory Bank, the Central Bank of Nigeria (“CBN”) has continued to publish its regulatory circulars which will enshrine a more robust digital payment system, in contrast to the cur
  17. A Critique of Movie Production in Nigeria


    This author, a California based attorney with wide knowledge of laws governing movie productions and entertainment industry, grew up in Nigeria fascinated, mesmerized and besotted by renowned Nigerian artistes such as Moses Olaiya (Baba Sala), Chief Zebru
  18. Nigeria Judges & Freedom of Information Act 2011


    "It will be an injudicious exercise of my discretion, pursuant to the provisions of Order 34 of the Federal High Court (Civil Procedure) Rule, 2009 to proceed by granting leave to the Applicant to apply for an order of mandamus against a Respondent who h
  19. Appeal court rules on serving arbitration notice by E-mail


    In Continental Sales Ltd v R Shipping Inc(1) the Lagos Court of Appeal ruled that serving an arbitration notice by email constitutes effective service of the arbitration notice under the English Arbitration Act 1996, for the purposes of registering and en
  20. Arbitrating foreign investment disputes in Nigeria: prospects and challenges


    Nigeria's investment laws and policies are geared towards liberalisation, deregulation and competition. Accordingly, all sectors of the economy are open to both foreign and domestic investment.
  21. All change for listed companies in Nigeria: 2 sets of amended rules come into force


    After almost two years, the Securities and Exchange Commission (SEC) has finally published the long-awaited Consolidated Rules of the Securities and Exchange Commission. The previous consolidated version of the rules was published in 2000, just after the
  22. Mortgage and Property Law of Lagos State – July 2013


    A Mortgage is described by the Lagos State Mortgage and Property Law to be the transfer of any interest in a specific movable or immovable property, for the purpose of securing the repayment of a loan against an existing or future debt, or the performance
  23. Reviewing a Peculiar Land Law Jurisprudence in Nigeria


    PECULIAR LAND LAW JURISPRUDENCE IN THE FEDERAL CAPITAL TERRITORY (ABUJA): A CRITIQUE OF HON JUDGE PETER Oyin AFFEN’S JUNE 17, 2013 DECISION IN GRAND SERVICES V HYDRAFORM ENGINEERING, SUIT # FCT/HC/CV/818/09
  24. Legal Alert – Marine, Shipping and Cabotage Regulations & Tax


    Section 14 of the Companies Income Tax Act (as amended), provides that any non-Nigerian owned or controlled sea company, that calls at any sea port in Nigeria, shall be liable to have its profit or loss arising from its carriage of passengers, mails, live
  25. Immigration and Citizenship in Nigeria - May 2013


    The Immigration Act, CAP I1, Laws of the Federation of Nigeria, 2004 provides the legal and regulatory framework for the entry and departure of persons into or out of Nigeria; usually for economic and social reasons.
  26. Inheritance and Gift Taxes - Legal Alert – April 2013


    The generally held opinion in Nigeria is that there is no Inheritance and Gift Taxes in Nigeria. This is despite the enforcement of a Ten per cent (10%) (10%) Estate Fee charged on a deceased person's Estate when the Administrators or Executors of
  27. Companies, Other Legal Entities Formation and Taxation


    In Nigeria, the most common form of business formation and registration is a registered company. Under Nigerian Law, a company is a voluntary association of a number of persons united to carry on a particular line of business for economic gain.
  28. Co-operative Societies: Laws, Taxes & Regulations - February 2013


    A Co-operative Society is an autonomous and voluntary association of individuals who come together with the objective of owning common property, and prompting the economic interest of its members.
  29. CIBN Position – Appointment of External Chairman for CBN


    The Chartered Institute of Bankers of Nigeria (CIBN) is delighted about the invitation sent to it by the House Joint Committee on Banking and Currency and Justice to the Public Hearing on a Bill for an Act to amend the Central Bank of Nigeria Act, 2007
  30. CIBN Presentation to NASS on CBN Act Amendment - May 28, 2012


    We are very delighted for the invitation extended to The Chartered Institute of Bankers of Nigeria (CIBN) by the Senate Joint Committee on Banking, Insurance and other Financial Institutions and Judicial,
  31. Limitation Law in Nigeria – Legal Alert– January 2013


    There is usually a Limitation Law, in many countries, which requires that a law suit must be commenced within a specific period of time from when the injury or omission, causing the damage or loss, arose or occurred. In Nigeria, the general legislation, w
  32. Legal Alert – November 2012 - Property Taxes in Nigeria


    There are various taxes that apply to real estate or real property transactions in Nigeria. The common public representation or perception that there are no real property or real estate taxes in Nigeria is not correct.
  33. The Income Tax (Transfer Pricing) Regulations, No. 1, 2012


    The proposed Income Tax (Transfer pricing) Regulations, 2012 (TPRs) is published by the Federal Inland Revenue Service (FIRS) in pursuance of the powers conferred on it by Section 61 of the Federal Inland Revenue Service (Establishment) Act. No.13 of
  34. Personal Income Tax Residency Rules


    The controversy over which State Government is the relevant tax authority authorised to collect Personal Income Tax where the tax payer resides in one State but works in another State, or where the tax payer works in more than two State, during each year
  35. Tax Alert - Minimum Tax and Dormant Companies


    The inability of global economies to come out of recession has resulted in redundancies and more closure of businesses without liquidation or winding up of many of these affected companies.
  36. Legal Alert – June 2012 – Limited and General Partnerships


    Partnership is one of the most common forms of establishing a business in Nigeria. The culture of sustaining long-term Partnerships that thrives and outlive their original partners have however remained mostly a mirage in Nigeria.
  37. Legal Alert - May 2012 - Admissibility of Electronic Evidence


    Tendering of electronic mails ("emails") for example are usually as contentious and acrimonious as the litigation itself, with the opposite party usually relying on the hearsay rule, among other forms of objections under the old Evidence Act 1945, to prev
  38. Legal Alert - April 2012 - Hotels & Tourism Licensing and Regulatory Regimes


    Legal Alert - April 2012 - Hotels & Tourism Licensing and Regulatory Regimes
  39. Intercepting Private Communications in Nigeria


    Intercepting Private Communications in Nigeria
  40. Can an Attorney Ethically Put Up Security for His Client?


    Can an Attorney Ethically Put Up Security for His Client?


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