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Why Should the Provisions of the New Company Law Usurp the Constitutional Rights of Nigerians?

Why Should the Provisions of the New Company Law Usurp the Constitutional Rights of Nigerians?

Published: 11 Sep 2020

The Companies and Allied Matters Act, 2019 (“the new CAMA”) recently signed into law by the President of the Federal Republic of Nigeria is a welcome development to Nigerian businesses. It has addressed the bottlenecks in formation of business entities and improved Nigerian corporate governance. It has also given leverage to small companies to thrive and incorporated technological innovations to t...

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Benefits Upon Discharge on Grounds of Redundancy in Nigeria 

Benefits Upon Discharge on Grounds of Redundancy in Nigeria 

Published: 24 Aug 2020

Like in other countries, the COVID-19 pandemic has affected the survival of many businesses across all the sectors in Nigeria. In other to grapple with the rough tides and remain in business, owners of businesses have deliberately cut down the cost of running their business by reducing overhead costs, declaring some posts redundant and reducing their workers by discharging them on grounds of redun...

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Improvements in Corporate Governance in Nigeria

Improvements in Corporate Governance in Nigeria

Published: 17 Aug 2020

On 7th August 2020, President Muhammadu Buhari of Nigeria signed the amended Companies and Allied Matters Act into law (“the amended CAMA”). Whilst the new law adopted most of the provisions in the Companies and Allied Matters Act, 1990, it introduces some new provisions for the purpose of entrenching the ease of doing business in Nigeria and to ensure that the practice of business entities meets ...

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Is the AGF’s Discretion to Promulgate an Order to Bring Part 1 of the Foreign Judgment Reciprocal Enforcement Act, 1990 Into Operation, Absolute?

Is the AGF’s Discretion to Promulgate an Order to Bring Part 1 of the Foreign Judgment Reciprocal Enforcement Act, 1990 Into Operation, Absolute?

Published: 03 Aug 2020

Upon Nigeria’s independence from colonial rule, the legislature passed a Foreign Judgment Reciprocal Enforcement Act (“the Act”) with a commencement date of 1st February 1961 (“the commencement date”). Section 3 of the Act provides that upon the satisfaction of the Minister of Justice and Attorney-General of the Federation (“the AGF”) that other Countries have reciprocal treatment of Judgments wit...

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Now That I Have an Arbitral Award Against A Nigerian Company, What Do I Do?

Now That I Have an Arbitral Award Against A Nigerian Company, What Do I Do?

Published: 27 Jul 2020

The essence of parties referring their dispute to arbitration is for the arbitral tribunal to make a valid and reasoned award which is capable of being enforced in a jurisdiction where the unsuccessful party has assets to satisfy the arbitral award. Usually, after an award is made, the successful party writes to the unsuccessful party to settle the sums awarded in the arbitral award within the tim...

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Common Questions on Registration and Enforcement of Foreign Judgments In Nigeria

Common Questions on Registration and Enforcement of Foreign Judgments In Nigeria

Published: 20 Jul 2020

What legislations regulate registration and enforcement of foreign judgments in Nigeria? The Reciprocal Enforcement of Judgments Ordinance, CAP 175, Laws of the Federation, 1958, Part 2 of the Foreign Judgment (Reciprocal Enforcement) Act, CAP, 152, Laws of the Federation of Nigeria, 1990 and the Reciprocal Enforcement of Judgment Rules, 1922 regulate the registration of foreign judgments in Niger...

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Legal Procedure for Convening Valid Company Meetings in Nigeria in the Midst of the Covid-19 Pandemic

Legal Procedure for Convening Valid Company Meetings in Nigeria in the Midst of the Covid-19 Pandemic

Published: 27 May 2020

The physical distancing and stay at home order of the Federal Government of Nigeria arising from the Covid-19 pandemic has restricted movements in major cities in Nigeria. Inter-state movements are also prohibited. This has affected the ability of companies to arrange for their meetings. The circumstance makes it difficult if not impossible for directors and shareholders to even access the venue o...

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The Role of Legislations and Nigerian Courts in Protecting Foreign Owned Businesses

The Role of Legislations and Nigerian Courts in Protecting Foreign Owned Businesses

Published: 13 May 2020

Under Section 6 (6) of the 1999 Nigerian Constitution, Nigerian legislations and powers of the courts extend to all matters between persons or between government and any person in Nigeria, and to all actions and proceedings for the determination of any question as to the civil rights and obligations of that person. This means a foreigner or foreign business may invoke the provisions of Nigerian le...

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