Why I Want To Be President – Saraki (Full Speech)

Why I Want To Be President – Saraki (Full Speech)

SPEECH BY HIS EXCELLENCY (DR.) ABUBAKAR  BUKOLA SARAKI, CON, PRESIDENT OF THE SENATE OF THE FEDERAL REPUBLIC OF NIGERIA, AT A DIALOGUE WITH YOUTH AND YOUNG ASPIRANTS HELD AT SHERATON HOTEL, ABUJA, ON THURSDAY, AUGUST 30, 2018.

PROTOCOL.

1. Let me say, once again, how wonderful it is to see so many talented and purposeful young people at this first edition of the Public Dialogue Series with Political Parties on Youth Candidacy and Party Primaries. Looking at you, I see future leaders who present themselves as capable and worthy to take on the mantle of leadership in this country, and this gladdens my heart.

2. From my interactions with many of you, and with your contemporaries across the country, I can see that we are blessed with a determined generation that stands ready to join with us to power a Nigerian renaissance. The quality of people I see here today affirms my belief that, indeed, you are Not Too Young To Run.

3. I deeply appreciate this opportunity to share some of my ideas about where we are as a nation, as well as the challenges before us as we approach the great decider that is the 2019 General Elections.

4. It is widely acknowledged that ours is a relatively ‘young’ country bursting with tremendous energy, ability and potential. More than 70 per cent of our population is under the age of 40.  You are indeed the future of this country. Ordinarily, such a young population would be the envy of many Western countries that are faced with ageing populations, but the dire state of our affairs tarnishes the youthful advantage that we have.

5. Up and down our country today, Nigerians are crying out for succour. Many of our children are hungry. Many people are dying of avoidable or otherwise treatable diseases. Many have fallen below basic living standards, and are now among the 87 million that sealed Nigeria’s position as the country with the highest number of people in extreme poverty. Our young people lack opportunities. The necessary education facilities and system to equip them for the future simply do not exist. We are not creating the jobs needed to usefully engage them in order to grow our economy. And too often, the youth feel shut out, prevented from having any say in the direction of this nation.

6. The harsh conditions of extreme poverty faced by the people, fuels the state of insecurity all over the country. Hunger, lack of education and lack of opportunities push many Nigerians into criminal activities including terrorism. Many of our communities are paralysed with fear – due to incessant communal crises, kidnappings and other social ills, as well as the threat of terrorism. We are failing abysmally to tackle the problems of today and to prepare for the future.

7. Our economy is broken and is in need of urgent revival in order for Nigeria to grow. GDP growth rate has declined. Diversification remains an illusion. Unemployment is at an all-time high. Businesses are shutting down. Jobs are being lost in record numbers, and the capital needed to jumpstart our economy is going elsewhere.

8. Nigeria is perhaps more divided now than ever before. We are increasingly divided along regional, religious and ethnic lines. Nigerians are also divided by class, a festering gulf between the ‘Haves’ and the ‘Have-Nots’. The fault lines of this nation are widening to an alarming degree. We must do something fast, and we must be brave about it.

9. We must ensure the security of lives in Nigeria. As things stand now, no one is safe in this country. No one feels truly safe. We must restore the sanctity of the rule of law and strengthen democratic institutions in order to build a just, fair and equitable society for all. We must rebuild the trust of our people in government. We need a new generation of leaders that are competent, with the capability to rise to the challenges of the 21st century. We must pull this country back together and rebuild, block by block, with dedication and commitment.

10. You will agree with me that this is an urgent task that requires the concerted efforts of each and every one of us. If we look around today, what do we see? What is the condition of our citizens? Where are we as a nation? How are we perceived locally and internationally? Why are we not making the expected progress? Why are we not growing? There is no time to waste. The time is now, to come together to stimulate growth in Nigeria, especially in the national economy.

11. The choice we face in the forthcoming election is either to keep things as they are, or make a radical departure from the old ways. To find a better way of doing things or keep repeating the mistakes of the past. To fix the problems or keep compounding them.

12. It is with all these in mind, and taking account of the challenges that I have outlined, that I have decided to answer the call of teeming youth who have asked me to run for President. Accordingly, I hereby announce my intention to run for the office of President of the Federal Republic of Nigeria in the coming General Elections in 2019 on the platform of the People’s Democratic Party (PDP). I do so with the firm conviction that I have what it takes to secure inclusive growth for Nigeria and Nigerians.

13. My Plan for Nigeria has inclusion in all aspects of the country’s affairs as a central pillar. Every citizen has the inalienable right to feel a sense of belonging, no matter their background or creed, or what part of the country they come from. No matter who you voted for or what your convictions are, government must work for you.

14. Your generation does not deserve to live in the poverty capital of the world. It is no longer an issue of how we got here, but how do we get out of this situation? I promise you that I will lead the fight and employ every God-given resource available to us in turning things around. I am determined to grow Nigeria out of poverty. We will stimulate the growth of Small and Medium Enterprises (SMEs) as one of the ways of energising the economy and to create wealth for our people, especially the youth.

15. I want to see the youth play major roles at all levels, not only in government but also in the private sector and indeed in every area of Nigerian life. This will be a government driven by youthful energy, innovation and a pioneering entrepreneurial spirit. Nigerian youth will be given all the opportunities to realise their potential to the full within a national framework that guarantees inclusiveness.  For youth who have ideas and capacity, we will make sure that there is funding for their ventures; and we shall build on the Made in Nigeria legislation as part of our job creation drive.

16. My plan is to secure Nigeria by redesigning our national security architecture, while adequately equipping our security agencies to fulfil their primary role of protecting lives and property.

17. I will address our infrastructural deficit through aggressive financing initiatives including mutually beneficial PPP arrangements, regular floating of bonds and other financial instruments, which will ensure stable, adequate and reliable funding to see to the completion of core projects especially road, rail and power.

18. My plan is to protect all Nigerians and defend their constitutional rights and freedoms. I will stand for and uphold at all times the principle of the rule of law, which is the bedrock of democratic governance.

19. Ours will not be a selective fight against corruption. The emphasis will be on strengthening institutions, with a particular focus on deterrence. We cannot afford to compromise our institutions with proxy wars against perceived political opponents. We see the fight against corruption as crucial to Nigeria’s economic development.

20. I offer leadership driven by empathy. Where leaders are responsive to the citizens. Where they know that government cares. We will not be indifferent or turn a blind eye to the real concerns of our people. Every single Nigerian life matters.

21. For me, the leadership we deserve is one that will be a source of pride to all Nigerians, one that will be respected and admired in Africa and around the world. It should be a leadership that can hold its own and stand tall anywhere in the world. That is the type of leadership I offer.

22. As a former two-term Governor and currently President of the Senate by the grace of God, I believe I possess a unique blend of executive and legislative experience to push for and implement reforms that will deliver real improvements in the daily lives of our people. I know what it takes to create jobs and grow the economy. I can make the tough decisions when it matters. I will spearhead a new agenda that can transform the lives of ordinary Nigerians in real terms.

23. Believe me when I say that it will not be business as usual. This will be a dynamic government of action that will pursue the growth of Nigeria with doggedness, determination and conviction. I will lead a result-driven administration. We shall set targets with clear timelines to ensure that anticipated deliverables are met. You can benchmark us and hold us accountable. In short, I assure you that I will deliver on all promises. What I envision is a new chapter in governance in this country. We will be driven by what is best for Nigerians.

25. I have deliberately chosen the opportunity of being here with you, my Number One constituency who I see as the future of our great country, to make my intention known. I believe the Nigerian youth are critical to rebuilding and growing the economy, and restoring our national pride.

26. I therefore ask you and all well-meaning Nigerians to join hands with me in this noble cause.

My brothers, My sisters, Let’s Grow Nigeria Together.

God bless you all.
God bless the Federal Republic of Nigeria.

Dr. Abubakar Bukola Saraki, CON.

2019: Towards A Vibrant, Experienced Representation for Lagos East in the Senate

2019: Towards A Vibrant, Experienced Representation for Lagos East in the Senate

I have consistently argued, and not just for
personal reasons, that experience in the national assembly is imperative and an
invaluable asset to the party and the constituencies being represented. It
takes considerable amount of time to be effective at law making, to understand
the ropes, to move bills or motions and to have a grasp of the paraphernalia of
goverance at the centre.

This explains why legislators are routinely
trained to continuously build capacity in a bid to discharge their
responsibilities dutifully. Need I say, that it costs a handful of Money to
train federal legislators, and it would be pound foolish for the country not to
profit from that investment.

The truth is, Senators like Ike Ekweremadu,
Ahmed Lawan, or even Femi Gbajabiamila in the green chambers just to mention
but a few, are able to push bills through faster in the Senate having gathered
the requisite experience and the wit for sensible politicking.

Their political party and the constituencies
they represent are usually the beneficiaries of such experience. Moreso,
senators that have stayed longer in the Senate have displayed a rare capacity
to attract more projects to their constituents as well as the privilege of
rank, in canvassing their positions or lending their voice to National Debates.

James Manager, for instance, was able to
achieve the The Nigerian Maritime University, Okerenkoko, Delta State through
the bill he sponsored in the Senate. Beyond the quality and appropriateness of
the bill, it was his experience, lobbying and politicking, gathered from
serving 3 terms in the Senate, that ensured the success of the bill.

Senator Gbenga Ashafa is also drawing from
such experience to move forward his bill to see Yabatech upgraded to a
university through the City University of Technology Bill sponsored by him.

Of course, I’m a stickler for merit and would
not advocate that a non performing representative be returned to the national
assembly just to halt the excessive turnover of legislators. However, those who
have laurels to show and have fought the good fight should not be denied
further opportunity.

On this I completely align with the position
of the chairman of my party, the APC, comrade Adams Oshiomole who recently
encouraged the party to reward Loyalty and Experience. He said “Let me assure
all of us that the National Working Committee is making this promise publicly
and we are doing you no favour. Legislation and the legislature requires
experience because nobody can give what he does not have. We see people like
Senator McCain, when they speak, the American people listen. High turn over of
legislators is not a value to be celebrated. What we should celebrate is
experience which cannot be read in books, but can only be acquired on the job.
I want to reassure you that we will do everything possible to change the old
narrative of heavy turn over every four years and the ‘politics of you have
done enough, step aside’ will change over time for the good of Nigeria and for
the maintenance of democracy”.

Without a doubt, Senator Ashafa has remained
loyal to the party and his constituents and I believe the experience he has
gathered in nearly two terms in the Senate will prove a valuable asset in the
coming years for his constituents and Nigerians. Senator Ashafa remains
passionate and committed to delivering on every promise made to his
constituents, to provide legislative support to the executive, to defend our
dear constitution and to ensure that the common man finds hope in our dear
country. Thankfully, Senator Ashafa has again answered the clarion call from
his constituents to continue to serve them at centre dutifully.

Temitope Atiba is a lawyer and the Senior
Legislative Aide to Senator Gbenga B. Ashafa.

President Buhari’s Speech To Lawyers At The NBA Annual Conference

President Buhari’s Speech To Lawyers At The NBA Annual Conference

Full speech below:

I am delighted to address this distinguished gathering on the occasion of the 2018 Annual Conference of the Nigerian Bar Association. Let me thank your Association for the invitation to declare this Conference open and to express my hope that the Conference will consolidate the position of the NBA as a prime stakeholder in our national affairs.

2. I am informed that with an average attendance of over 10,000 participants, this Conference represents one of the largest single gathering of lawyers anywhere in the world. I congratulate you all for this achievement which is a plus for our nation.

3. The theme of this 2018 NBA Conference — “Transition, Transformation and Sustainable Institutions” — is one which is apt in the light of our contemporary domestic and global challenges. I also consider it significant in view of the fact that it demonstrates the willingness of the NBA to address issues, not only related to the immediate practice of law but more importantly, to solutions of wider society’s problems.

4. Since the inauguration of this administration, I have had the privilege of observing at first hand how societies experience transition, attempt transformation and build or strengthen institutions to manage these processes.

5. As you will recall, this administration’s emergence marked the first successful civilian transition in Nigeria’s democratic history, following the outcome of the 2015 General Elections.

6. Given the enormity of the challenges we inherited and the yearnings of a citizenry earnestly desirous of a new way of running national affairs, our first challenge was to transform our country speedily into a society where impunity in the management of national resources would be replaced with a culture of accountability and transparency. We needed to deploy our resources to address our common needs rather than the greed of a callous few.

7. In order to achieve this, we have had to disrupt age-old assumptions and unsettle ancient norms in the management of our national patrimony, as you have all witnessed in the last three years.

8. While we have made appreciable progress in several sectors, including public awareness of the need to challenge the corrupt and the brazen in our midst, we have also learnt useful lessons on the dynamism of our society. However, elements within every society, including some lawyers, can equally become unduly resistant to change, even where it is proven that such change is to serve the interest of the larger society. At worst, corruption fights back.

9. As we gradually move into another season of intense political activities preparatory to the 2019 General Elections, I enjoin you to remember that by reason of your profession, you all have a responsibility to work for national cohesion and unity through your speeches and public positions and most importantly in your advocacy in court.

10. In the context of opinions and narratives about our past and present political and socio-economic experience, you cannot afford to jettison rational and proper analysis of issues in a manner which builds, rather than destroys the nation. I also urge you to work to uphold and improve the sanctity and integrity of our judicial and electoral institutions which play a fundamental role in the sustenance and growth of our democracy.

11. However, let me remind you all, my dear compatriots, that the law can only be optimally practiced in a Nigeria that is safe, secure and prosperous.

12. As you go into this Annual Conference, let me assure you of the resolve of this administration to promote measures that will achieve a vibrant economy under which the practice of law will thrive.

13. Through fiscal discipline, good housekeeping, we navigated the difficult days of economic transformation at the beginning of this Government in 2015 and have now come to improving economic indices, including the consistent increase in our foreign reserves; thirteen straight months of decreasing inflation; the expansion of social safety nets programmes as well as the blockages of historical drain pipes in our national treasury, all within the context of the Economic Recovery and Growth Plan.

14. It is equally significant to emphasize that our willingness to hold persons accountable for offences against society, through the judicial process, will equally transform the future of public service in Nigeria in a positive manner.

15. I believe that lawyers can contribute to another core objective of enhancing our business environment and promoting social justice by promoting respect for the Rule of Law; contributing to the law reform process and putting national interest and professional ethics above self in the conduct of their business.

16. Rule of Law must be subject to the supremacy of the nation’s security and national interest. Our apex court has had cause to adopt a position on this issue in this regard and it is now a matter of judicial recognition that; where national security and public interest are threatened or there is a likelihood of their being threatened, the individual rights of those allegedly responsible must take second place, in favour of the greater good of society.

17. I trust that this Conference will achieve tremendous success and I urge you all to participate actively in its various intellectual and social activities in order to build new bonds and strengthen old relationships. I congratulate the incoming National Executive of the NBA led by Mr. Paul Usoro, SAN, and wish them a successful tenure in the task of advancing legal practice in Nigeria.

18. In conclusion, may I wish you all, once more, a very fruitful Conference. It is my hope that the outcome of your deliberations will impact positively on the socio-economic fortunes of our country and Africa in the years ahead and improve access of the poor and under-privileged in our society to justice. I look forward to reading the conclusions of your conference.

19. Your Excellencies, My Lords, Distinguished Ladies and Gentlemen of the Bar, it is now my pleasure to declare the 2018 Annual Conference of the Nigerian Bar Association open.

Thank you and God bless the Federal Republic of Nigeria.

Legalnaija Law Tip

Legalnaija Law Tip

Where a director enters into a contract in the name of or purporting to bind the company, it is the company, the principal, which is liable on it, not the director.

Therefore, when going into agreements on behalf of your company, be sure to understand this principle. 


Note: There is a provision of the CAMA that allows the court to lift the veil of the company and reach directly to the directors. E.g. fraud 

Learn and Share
#company #law #companylaw #lawyerlife #lagoslawyer #businesslaw #lawnews #legalnews #legalnaija #blawg
My Response To Olumuyiwa Olowokure Esq’s Preliminary Report on NBA Election-Victor Abasiakan Ekim

My Response To Olumuyiwa Olowokure Esq’s Preliminary Report on NBA Election-Victor Abasiakan Ekim


I have read the Preliminary Report that was prepared and released by Mr. Olumuyiwa Olowokure, the Leader of the Arthur Obi Okafor, SAN’s Technical Team, alleging irregularities that the Team purportedly identified in the just concluded NBA Elections.  In the Report, Mr. Olowokure attempts to rubbish the NBA Elections and calls on “the current leadership of NBA to act and cancel this fault laden process that declared Paul Usoro SAN the winner of the election”.

The election processes had its significant challenges which would need to be looked into and addressed by the incoming NBA administration, but the election itself, as far as I observed, met the standard of substantial compliance and Mr. Usoro won the Presidency of the NBA straight and square.  The current negative narratives by Arthur Obi Okafor, SAN’s Team amounts to unnecessary bellyaching and an attempt to call a dog (the Elections) by a bad name in order to nullify it.

The Elections results have been hailed by the majority of lawyers across the geographical spread of Nigeria and Mr. Usoro is positioned to take over as the 29th President of the NBA, by Divine Grace.  I know and can confirm that Mr. Usoro is focused on and determined to effect significant reforms in the NBA with the aim of making the NBA an institution of pride to all lawyers and non-lawyers alike.  Typical of him, he has been magnanimous in victory and has graciously extended his hand of friendship and brotherhood to both Prof Ernest Ojukwu, SAN and Chief Arthur Obi Okafor, SAN.

“Openmailbox.org”; “firemail.cc”; “airmail.cc” Domains

The crux of the AOO Report relates to the allegation that there were certain irregularities in the Election in regard to the verified voters’ list and the use of three main domains – “Openmailbox.org”, “firemail.cc” and “airmail.cc” – by some lawyers in their e-mail addresses in the said list.  According to the AOO Report, the lawyers’ actual e-mail addresses were supplanted by unknown persons with e-mail addresses from these three domains that did not belong to the named lawyers.  I took active part in Mr. Usoro’s campaign and represented him in meetings with ECNBA and can state categorically that Mr. Usoro’s Campaign Team was not aware of nor privy to any such actions assuming that they happened at all.

What is rather troubling and extremely alarming to me is the admission by Mr. Olowokure in the AOO Report that he and his Team may have hacked into and/or compromised the Crenet and Chams servers in the course of the Elections.  According to Mr. Olowokure, “a day before the election” he and his Team purportedly “discovered from the verification portal the incidences of some strange looking email addresses that surfaced as lawyers alleged email addresses for the first time.  These email addresses predominantly came from three domains “openmailbox.org”, “firemail.cc” and “airmail.cc”.

As we recall, at all times material to the verification, the candidates and indeed all lawyers were able to access the verification portal but could only see the names of lawyers, their Enrolment Numbers and Branches but definitely not the telephone numbers and e-mail addresses.  The technical people in the PU Campaign Team who attended meetings of ECNBA with me and also acted as agents for Mr. Usoro during the elections inform me that these additional pieces of information could only be accessed from the backend of the servers – whether Crenet or Chams.  The backends of these servers were accessible only to the Crenet and Chams administrators and no other; in particular, they were not accessible to the candidates.

So, assuming that the AOO Team are telling the truth, how did they come by the information which they purport to have had and which the other candidates did not have?  For the avoidance of doubt, I have investigated and confirmed that none of the candidates nor their agents were permitted or allowed any access to the backend of the Crenet and/or Chams’ servers.  Mr. Olowokure and his Team may either therefore be lying about what they claim to have known or they had actually compromised and hacked into the service providers’ servers in the course of the Elections.  Only these circumstances would explain their purported e-mails to the ECNBA which were not copied to other candidates.

As at 17, 18 and early hours of 19 August 2018 when they purported to have sent those e-mails to ECNBA alerting the Committee to the use of those three domains, none of the candidates had been given the Crenet verified list of voters that contained the details and information which Mr. Olowokure and his Team purport to have had. It was not until 5,53pm on Sunday, 19 August 2018, following the further loading of data on to the Chams portal that the ECNBA released to the candidates’ agents the revised list of verified voters that contained the voters’ phone numbers and e-mail addresses.  By that time, as Mr. Olowokure now claims in his Report, his Team already had that data and information with them.

Given this scenario and the possibility that Mr. Olowokure may have illegally compromised and/or hacked into the Crenet and/or Chams’ servers, what moral or even legal right has he and his Team to raise issues of irregularities in the recently concluded NBA Election? With his Team having purportedly had such unauthorized and illegal access to the servers as they now admit to having had, what could, or may they have done to the Election data and processes that the rest of us may not have been aware of?

Purported Evidence – Annexure G

Still on the integrity quotient of Mr. Olowokure and his Team, Annexure G to his Report does great disservice to his integrity and that of his Team.  I have confirmed that Annexure G to Mr. Olowokure’s Report was not issued and/or given by the ECNBA to Mr. Olowokure and his Team.  So, where did Mr. Olowokure and his Team get that document come from?  It is either that the document was fabricated by Mr. Olowokure and his Team or they, as is now becoming obvious, had compromised and hacked into the Crenet and/or Chams servers to obtain the data.  I leave you, dear readers, to make your judgment on the credibility and probative value of documents of that nature, whether fabricated or illegally obtained.  Beyond that, I leave you to judge the integrity quotient of the people who engage in such illegalities and malpractices

Move On

In all of these, it is rather intriguing to me that the AOO Team, in the ECNBA’s Election Situation Room and beyond, were, while voting was under way, literally jubilating, back-slapping, gloating and rejoicing at the prospect of success, believing that they had won the Presidency of the NBA as witnessed by all in the ECNBA’s Situation Room. This euphoria continued until Mr. Usoro closed in on and overtook Chief Okafor in the evening of Sunday, 19 August 2018.  Assuming that that upset did not occur and Mr. Okafor had proceeded to win the Election, would Mr. Olowokure and his Team have seen and come out with the “warts” that they now claim to see in the processes of the Election?  Definitely not.

We know that it is a Nigerian attitude to always blame election losses on malpractices and irregularities, but we should strive to be different in the NBA Elections.  Losing an election does not make one any less of a Bar Leader and the respected Senior Advocate of Nigeria, Chief Arthur Obi Okafor, SAN can still make tremendous contributions to the Bar under the leadership of Mr. Usoro, to the Glory of God and man. I therefore most respectfully implore him to accept Mr. Usoro’s olive branch and let peace and progress reign, in the overall interest of the Bar.

Victor Abasiakan Ekim

#IStandWithPaul
A CONGRATULATORY MESSAGE FROM NBA IKOT EKPENE BRANCH.

A CONGRATULATORY MESSAGE FROM NBA IKOT EKPENE BRANCH.

On behalf of the members of the Nigerian Bar Association, Ikot Ekpene branch, the very home branch of the NBA President elect,  I congratulate Paul Usoro SAN on his election as the 29th President of the NBA.Paul Usoro SAN always goes for the impossible thing to make it possible. He takes each target as his aim. He loves taking challenges and he deserves this achievement.

We say to Paul Usoro SAN and his dear wife who is also our learned colleague, Mrs. Mfon Usoro. “It is a success, you truly deserved. It is an achievement you have truly earned. You haveachieved yet another milestone following the success at the poll. We in your home branch are proud of you, our very own. We are confident that you will rebrand NBA and take her to greater heights.”

Accept our congratulations!

Cosmas Udoete Esq  – The branch chairman.
                 
 Charles Okon Esq
The Branch Secretary

MORTGAGES AND FORECLOSURE BILL OF KADUNA STATE 2017

MORTGAGES AND FORECLOSURE BILL OF KADUNA STATE 2017


The Kaduna State House of Assembly bill tagged ‘A LAW TO ESTABLISH THE KADUNA STATE MORTGAGES AND FORECLOSURE AUTHORITY TO REGULATE MORTGAGES, FORECLOSURE AND ENFORCEMENT OF REAL PROPERTY AND CONNECTED PURPOSES, 2017’,

 is said to reduce the housing deficit in the state of Kaduna at the same time reducing the liability of the state government in maintaining government properties. It must be appreciated that this provision makes it possible for all state residents to acquire homes notwithstanding whatever sectors they belong to. 

The Law starts by establishing (1) Kaduna State Mortgages and Foreclosure Authority under section 5 of the law, a corporate body tasked with the duties of creating a conducive environment for accessible and affordable mortgages for the benefit of residents of the State; advising the Governor on the funding, administration and structure of the State mortgage finance program  or policy for the benefit of the indigenes and civil servants of the State; harmonizing any mortgage scheme or policy which the State has or may put in place from time to time in connection with the making, processing, placing, registering or administration of mortgages;  and
(2) in Sections 16, the establishment of a Mortgage registry through the State Mortgages and Foreclosure Authority, this registry shall receive and process applications for consent of the Governor or the appropriate Local Government Area to mortgage transactions; receive and process applications for the registration and release of mortgages; keep and maintain a register of mortgages; provide a reliable record of information about interests in mortgages in the State to the Authority; interact with third parties concerned with property and mortgages; and receive and process applications for mortgage related searches.

In sections 32, the law clearly sets the covenants for the mortgagor. For instance,
The Mortgagor in all Mortgage transaction shall contain covenants as agreed by the parties: 
(1)pay the principal sum borrowed at the times appointed in the mortgage deed, and, so long as the principal money or any part of it remains unpaid, to pay interest on it or on so much of it as for the time being remains unpaid at the rate and at the times and in  the manner specified in the mortgage deed; 
(2)pay all rates, charges, rent, taxes and other outgoings which are at all times payable in respect of the mortgaged property; 
(3) repair and keep in a reasonable state of repair all buildings and other improvements upon the mortgaged property and to permit the Mortgagee or his or her agent at all reasonable times until the mortgage is discharged and after reasonable notice to the Mortgagor to enter the mortgaged property to examine its state and condition; 
(4) provide adequate insurance to make good any loss or damage caused by fire, tornado, windstorm, flood, earthquake and lightning and such other related risks to all buildings on the mortgaged property, and, where insurance is taken out, it is done in the name of the Mortgagor with insurers approved by the Mortgagee acting reasonably and to the full replacement value of all the buildings on the mortgaged property. Provided that such insurances shall note the Mortgagee as the first loss payee; 
(5) use the mortgaged property in a sustainable manner and to comply with all written laws, regulations and lawful orders applicable to the use of the land
A noteworthy area of the law is on the area of dispute resolution. 
The law clearly states, particularly in sections 40 that:

(1) All matters arising from, or connected with a mortgage transaction may be resolved by arbitration or any other alternative dispute resolution mechanism. 

(2) Where there is no agreement between parties to resolve the dispute by means of any alternative dispute resolution mechanism, the Court may refer all or part of the issues arising for determination in a proceeding before it relating to mortgages under this Law to the arbitration mechanism operational in the State. 

(3) All arbitration proceedings conducted pursuant to the provisions of this Law or any other Arbitration Law applicable in the State shall be concluded within a period not exceeding thirty (30) Business Days by which time the arbitration panel must deliver an award. 

(4) The arbitration provisions under this Law shall be read in conjunction with the Arbitration Laws of the State.
The law appreciates the speed and cost effectiveness of alternative dispute resolution. Additionally, a mortgagor shall be in default under a mortgage after a period of ninety (90) Business Days has elapsed subsequent to the Mortgagor failing to meet any obligations under a mortgage deed or fulfill any covenant or condition, express or implied in any mortgage deed or any underlying contracts.

Finally, the conditions for application of these mortgage scheme on the part of a private developer are clearly stated in sections 48 of the law. In the same vein the protects innocent purchasers from prejudicial conduct. In section 50 of the law, it is stated that
“An application for registration of a Scheme Plan and issuance of Scheme Titles may be withdrawn only where the withdrawal is no or will not be, detrimental to the interests of any person who has purchased or agreed to purchase any Unit of the property in question in reliance on the application having been made”

In conclusion, it must be recalled that the state government had declared its intention to sell some of its residential quarters to public servants and the general public. The move to sell off 1,990 government houses according to reports was to cut the cost of maintaining the quarters as endorsed by the State Executive Council. Through the Mortgage and foreclosure law, this disposal of property will be achieved. Private developers and the general public have a lot to gain thanks to this enactment.

Eseoghene Palmer Esq.
Legal Practitioner

www.adedunmadeonibokun.com 
Photo Credit – www.kdsg.gov.ng