by Legalnaija | Jun 15, 2023 | Uncategorized
In the first part of the series, we talked about Marketing in Real estate and the importance of knowing the right marketing technique to employ for your real estate company for the company and business to do well in the market. Marketing is the sole sustenance of every business, be it small or large business.
However, there is a popular saying that when you are in Rome, you behave like a Roman and when you are in Italy, you behave like an Italian. Having the capital, and marketing knowledge of the real estate sector is not as important as having an idea of the needed laws governing that sector. Not being aware of the laws governing Real estate in your country and venturing into it is like a blind man walking on a busy road with no walking stick or anybody holding his hand, he will surely meet his misfortune. Lord Denning in Benjamin Leonard MacFoy v. United Africa Company Ltd. 3 All ER 1169 at 1172 (1961) said putting something on nothing will surely fail.
This part of Running a Profitable Real Estate Business examines some of the vital laws that are required for most real estate transactions. This part will also discuss the different legal documents needed for a perfect real estate transaction. While discussing the laws, the focus shall mainly be on Nigerian laws because the writer is domiciled in Nigeria. However, readers outside the jurisdiction can pick laws similar to the ones that will be discussed here for their perusal. It should however be noted that knowing these laws is not adequate than engaging the services of someone good in them. You can do that either by retaining the service of a Lawyer or employing a Lawyer to work in your Legal Department.
RELEVANT LAWS
- LAND LAW
Signed into law in the year 1978. The law governs the ownership, purchase, administration, management, and management of land in Nigeria’s states and Federal Capital Territory, including land allotment, title registration, etc. Section 1 of the law states that every land is vested upon the Governor and he has the power to grant ownership of any portion of the land to anybody and he also has the liberty to withdraw such grant.
All lands comprised in the territory of each state in the Federation are vested in the Governor of that State and such land shall be held in trust and administered for the use and common benefit of all Nigerian in accordance with the provisions of the Act.
Such land granted to an individual by the Governor is only for 99 years, after which the said land reverts to the Governor.
- COMPANIES AND ALLIED MATTERS ACT
After determining to go into Real Estate, the next thing an individual needs to consider is the Incorporation of a company or registration of a business name, both of which are guided and provided for under the Companies and Allied Matters Act 2020. This aspect requires the service of an accredited Corporate Affairs Commission Agent. Registration of a business name is good if you have an ideal name you want to use for business and you want to secure the name before deciding to start a company using the name. You can also use it to run a business.
However, the mere registration of a business name has its limitation compared to the incorporation of a company. When you incorporate a company, you have more advantage as most loan, grant organizations, and business angels tend to deal with incorporated companies than business names. The CAMA amongst other things states that a single person can be the sole shareholder of a private company, so you do not have to bring too many hands into the leadership of your organization.
- MORTGAGE LAWS
It should however be noted here that presently in Nigeria, there are different mortgage laws governing the administration of mortgages in the different parts of the country. There are two types of mortgages in Nigeria, namely legal mortgages and equitable mortgages. The mode of creating a legal mortgage in Nigeria is determined by the law applicable in the State where the property is situated. Given that it grants the mortgagee legal title to an item, a legal mortgage is the most secure and complete type of security interest. In contrast, an equitable mortgage entails the transfer of the mortgagor’s beneficial interest in a property to the mortgagee as collateral for the fulfillment of debts.
Legal Mortgage
The most secure and complete type of security interest is a legal mortgage, which gives the mortgagee legal title to the collateral and forbids the mortgagor from dealing with the mortgaged property while it is still secured by the mortgage.
Equitable mortgage
The transfer of the borrower’s beneficial interest in a property to the lender as security for the fulfillment of specific obligations constitutes an equitable mortgage. This transfer is made with the express or implied understanding that the beneficial interest will be returned to the borrower once the secured obligations have been satisfied.
It should however be noted that there are three (3) laws governing the administration of mortgages in Nigeria.
The Conveyance Act, of 1881 (CA)
Under the Conveyancing Act, there are two methods of creating a legal mortgage:
- By assignment of the entire and unexpired residue of the mortgagor’s leasehold interest to the mortgagee (under the Land Use Act) with a proviso for cesser upon redemption.
- Sub-demise (sub-lease) of the unexpired residue less few days with a proviso for cesser upon redemption (could even be less one day)
Property & Conveyancing Law (PCL) is applicable in States in the old Western and Midwestern regions namely Ondo, Osun, Oyo, Ogun, Edo, Ekiti, and Delta except for Lagos.
Under the PCL, there are two methods of creating a legal mortgage:
- The demise of a freehold for a term of years absolute subject to cesser on redemption.
- Sub demise (sublease) for a term of years absolute, less at least one day than the term vested in the mortgagor and subject to provision for cesser on redemption.
- A legal charge by Deed expressed to be by way of a legal mortgage
Creation of Legal Mortgage in Lagos State
The law regulating all mortgage transactions in Lagos State is the Mortgage and Property Law (M&PL) of Lagos State, 2010 which abolished the Property and Conveyancing Law. Under the M&PL, a mortgage can only be created in the following ways
- A demise (the conveyance or transfer of property) of a term of years absolute, subject to a cesser on redemption.
- A charge by deed is expressed to be by way of a legal mortgage.
- A charge by deed is expressed to be by way of statutory mortgages in the forms provided under this law.
- TENANCY LAW
Whether you are starting big or small, not all the places you use for professional and residential transactions will be yours, you will either rent or lease some. Each State of Nigeria has its tenancy law which governs the service of notices, rights of a landlord, rights of tenants, increment of rent, peaceful possession of the property, etc.
- PERSONAL INCOME TAX (AMENDMENT) ACT 2011 AND COMPANY INCOME TAX ACT 2011
Also known as PITA and CITA. It is a general knowledge that citizens are expected to pay tax which in return helps the government in the dispensation of their duties to the general citizenry. Also, up-to-date payment of tax as a business owner and a business entity is part of the things you will be expected to submit while applying for loans and/or grants from both local and international financial organizations and government financial institutions like the Bank of Industry. The latest Tax Regulation 2018 also states that your Special Purpose Vehicles may be taxed.
- FINANCE ACT 2023
This was signed into law by the former president, Mohammed Buhari while he was about to leave office. The Act makes some amendments to Capital Gains Tax Act, Companies Income Tax Act, Personal Income Tax Act, Petroleum Profit Tax Act, Value Added Tax Act, Tertiary Education Trust Fund Act, Customs, Excise, Tariff Act, Stamp Duties Act, Public Procurement Act, Corrupt Practices and other Related Offences Act and Ministry of Finance (Incorporated) Act.
LEGAL DOCUMENTS
- SALES AGREEMENT
After the declaration of interest to purchase a plot of land or landed property, due diligence is carried out, and the Sales Agreement is put in place between the Vendor and the Purchaser stipulating the amount the property will be sold and any other conditions that would be fulfilled before total alienation takes place.
- DEED OF ASSIGNMENT
This is the document that perfects the alienation of the property. It is the final document that exchanges the hands of the parties to the transaction.
- POWER OF ATTORNEY
It should be noted that this document in particular is not only used in the alienation of a property or property transactions. It is a document bestowing power and responsibilities from the Donor to the Donee.
However, when it is used in property transactions, it is bestowing the rights, duties, and obligations expected of the Donor to Donee either for a period certain or forever which must be explicitly stated in the Power of Attorney.
- PARTNERSHIP AGREEMENT
This is an Agreement that spells out the terms of a Partnership. The Partnership might be Sponsoring Partnership, i.e. A wants to purchase a property worth N4,000,000,000.0 (Four Billion Naira Only) but A does not have up to that amount at the present but he knows in a couple of months he would get the amount. If A decides to wait till then before purchasing the property, he would miss purchasing it. On the other hand, B has more than N4,000,000,000.0 that he is not using presently. A and B can enter into a Partnership whereby B will give A the amount of money he needs with an agreement to pay back N4,500,000,000.0 after some months. After the payment, A takes full possession of the property.
All other terms and conditions of this Partnership would be expressly stated in the Agreement.
- SPV DOCUMENTS
Special Purpose Vehicles or Entity is a type of Project Finance under Corporate Finance. Whenever Companies or entities want to embark on a new project in which they do not want the mother company to be involved or hide some finances or raise capital for a project, Special Purpose Vehicles or Entities are created. They are created to carry out a particular function, they have Directors and Shareholders just like a normal company. For example, HH Holdings, a Special Purpose Vehicle created by Tony Elumelu’s Heirs Holding purchased about 9 Billion Transcorp shares. So also, Sowami of Ardova Plc’s Special Purpose Vehicle, Ignite Investment and Commercial Limited (IICL). So as a Real Estate company carrying out different projects and desires to isolate the risk of that project from your company, you need a Special Purpose Vehicle.
- JOINT VENTURE AGREEMENT
The coming together of a person and an estate company or two estate companies to jointly execute a particular project. The Agreement amongst other things must spell out the input of each party to the project and also state the profit-sharing formula. It is pertinent to be agreed before signing if the Joint Venture Agreement will include any reversionary clause.
- LOAN AGREEMENT
Funny enough this is the Agreement I was told to draft when I went for the Interview at my present place of work. The Agreement must disclose the amount sought, the duration, repayment plan and also state if it is a security-based loan or not.
- TENANCY AND LEASE AGREEMENT
For those that are basically into Property Management, virtually all their transaction revolves around these 2 documents. It must spell out the duties and rights of both parties, the duration of the rent or lease, the rent review clause, and the rate.
- SEARCH REPORT
At the preliminary stage of every land and landed property transaction, it is advised that after the exchange of details about the property, the party intending to purchase the said property should carry out searches to verify the authenticity of what the intending Vendor has and is saying about the property. Searches about a property should be carried out at the Land Registry of that particular jurisdiction and also the court registry to know if there is an existing court case on the said property before purchasing the property.
In a nutshell, we have discussed some of the vital laws and documents needed for a perfect real estate transaction. It is advised that you engage the services of a Lawyer for this aspect of your real estate business.
Adebola Valentine Adeleye Esq. is a Real Estate Lawyer and has keen passion and interest in Corporate and Commercial practice. He is based in Abuja and can be reached through adeleyebola93@gmail.com or 08108173996
by Legalnaija | Jun 12, 2023 | Uncategorized
Consider the wonderful purpose of subsidies, a kind gesture that allows individuals and businesses access to petrol, an essential treasure, despite limited resources. However, in this tale, the small and medium enterprises (SMEs) in Nigeria have been dealt a huge misfortune by the subsidy removal, casting a shadow of uncertainty on their growth trajectory.
Nigeria, which is a country endowed with an abundance of 2.4 million barrels of crude oil every day, sadly sees its wealth sent abroad. This was made possible by a history of corruption and neglect which rendered our local refineries inactive, leaving the country to rely heavily on imports for more than 70% of its petrol consumption.
Recent realities demonstrate this. The elimination of subsidies has put small-scale business owners in a tough position only three days after a new government took office. These entrepreneurs, like battling fires without air, feel their profits dwindling and their survival threatened by this harsh approach.
In its most basic form, the fuel subsidy acts as a buffer, restricting the price of this petrol and insulating buyers from its true cost. The government, to its credit, bridged the gap between market pricing and regulated value per litre.
Now picture, if you will, the bustling streets that were once packed with the goals and aspirations of courageous entrepreneurs. These spirits forged ahead, inspired by the promise of financial relief, under the soothing shade of the subsidy tree. However, the withdrawal of this crucial lifeline has cast a dark cloud over the Nigerian business landscape, plunging SMEs into a maze of unparalleled difficulties.
Transport costs, like a raging fire, now eat their budgets. Entrepreneurs, who were previously helped by subsidised fuel, now face the hard reality of dedicating a considerable percentage of their cash to sustain operations. These additional expenses will eventually descend, like predatory birds in the sky, impacting consumer purchasing power and casting a shadow over economic growth.
According to a World Bank analysis, MSMEs account for up to 45% of total employment and up to 33% of national income in emerging economies. As noted by the Financial System Surveillance 2020 (FSS2020), the MSME sector is considered strategic for the development of the Nigerian economy due to its enormous potential and contributions.
In this difficult environment, the difficulties encountered by businesses attempting to manage high petroleum operating costs, which are critical to their operations, are worrying. Because of the costs imposed by the elimination of subsidies, small-scale business owners may be forced to lay off staff, dramatically raising the unemployment rate.
A worldwide consulting group predicted that Nigeria’s jobless rate will reach 49.6% in 2023 by December 2022. As of the fourth quarter of 2020, the country’s unemployment rate was 33.3%, according to the National Bureau of Statistics.
The statistics office produced an inflation report in February, revealing a considerable increase in the country’s inflation rate to 21.91%. Unfortunately, this percentage is expected to increase much higher in 2022, reaching 37.7%. and 40.6% in 2023.
Furthermore, the Bureau of Statistics had earlier predicted that the elimination of fuel subsidies and the adoption of the 2023 Fiscal Bill would exert additional pressure on domestic prices in 2023.
The headline inflation rate increased to 22.04% in March 2023, up from 21.91% the previous month, further exacerbating the problem. Nigeria’s annual inflation rate resumed its continuous rise in April 2023, reaching an alarming 22.22%. This statistic was the highest in over 18 years.
This problem has a particularly negative impact on food prices, which have risen dramatically. Food inflation rose to 24.61% in March, exceeding the previous month’s figure of 24.45%. Essential commodities like oil and fat, bread and grains, fish, potatoes, yams, fruits, meat, vegetables, and spirits all contributed to the population’s load.
With the elimination of subsidies, providers of vital products are now confronted with the new problem of deteriorating infrastructure. Nigeria, once brimming with opportunity, today struggles with decaying roads and intermittent power supplies, both of which have a significant impact on small-scale business owners. These challenges stifle ambitions and inhibit growth.
Transportation bottlenecks and power outages have become common occurrences in this turbulent environment. Entrepreneurs face logistical challenges that limit their ability to meet market demands efficiently. In an era when success is measured in millimetres, the lack of dependable infrastructure stifles productivity and creates uncertainty for countless SMEs.
In this absence of subsidies, the country is plagued by rising unemployment and soaring inflation. High food prices alienate the public, while the dreams of small-scale businesses, which are critical to economic growth, are jeopardised.
As we reflect on the plight of Nigeria’s SMEs, it is evident that this enormous problem will necessitate more than just government intervention. It is critical to create a collaborative ecosystem that encourages inter-SME collaboration. Business associations, industry experts, and experienced entrepreneurs have the ability to steer the path forward. These guiding lights can provide support, resilience, and prosperity by sharing knowledge, promoting best practices, and mentoring. This collaborative endeavour will unlock entrepreneurs’ true potential, reviving the nation’s spirit and ushering in a new period of limitless prosperity.
Omojo Wada, a serial entrepreneur, is the founder of Solohan & Co, Africa’s premier legal outfit company. Since its beginnings, the firm has outfitted over 12,000 lawyers and justices throughout the world.
by Legalnaija | Jun 1, 2023 | Uncategorized
Every successful lawyer has a rich and up to date law library; it’s one of the requirements for success, whether you are in private or in-house practice. Below, we have a provided a list of over 100 books you can add to your library, all specially curated from diverse areas of practice and are available on the legalnaija bookstore for delivery to you anywhere in and out of Nigeria.
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by Legalnaija | May 24, 2023 | Uncategorized
The Chairman of the International Law Association, Arbitration Committee, Mr. Tolu Aderemi, has charged international arbitrators to develop sector-focused expertise. Aderemi made this charge in London on Wednesday, May 17, 2023 during the public presentation of the book, The Palgrave Handbook of Arbitration in the African Energy and Mining Sectors, co- edited by the Professor Damilola Olawuyi, SAN and Dr Victoria Nalule, at the Parliament Chamber, Middle Temple Hall, United Kingdom.
Aderemi, who also authored a chapter in the Handbook on the Recognition and Enforcement of Energy Arbitration Awards, decried the spate of challenges to energy arbitral Awards. According to him, the somewhat lack of understanding or the appreciation of the technicalities of energy disputes are often reflected in the quality of submissions made by Counsel in their pleadings and the arbitral Award rendered by the Tribunal.
Aderemi, who is also a Partner with the firm of Perchstone & Graeys LP, stressed that basic knowledge of practice and procedure of Arbitration has become obviously insufficient to sit over energy-related disputes. He therefore encouraged energy arbitration practitioners to seek technical support either from local sector players or foreign counterparts; particularly at a time when the world is transitioning to a low carbon era in line with the net-zero carbon emission commitment by year 2050.
On his part, the co- editor of the Handbook, Professor Damilola Olawuyi, SAN, noted that the publication of the Handbook has become imperative in view of increasing use of ADR as an alternative mechanism for dispute resolution across the Continent. He emphasized that it is a Handbook which will be periodically reviewed to standardize its content.
On his part, the Chairman of the occasion, Kenyan High Commissioner to the United Kingdom, Ambassador Manoah Esipisu lauded the initiative and emphasized the need for capacity building, particularly in areas of renewable energy and water law. The Ambassador stated that the aggressive development of the Kenyan energy market and also chronicled the increasing strides of the Kenyan government to develop the Kenyan energy market.
The Managing Partner of the Host firm, McNair International, Prof Qureshi, KC, welcomed the publication of the Handbook as one of their products and hopes that its rich content will become useful for cross- border deals.
International arbitration has become one of the veritable tools for resolving high- valued commercial disputes and has been adjudged to be one of the most efficient mechanisms for dispute resolution in the energy sector. According to it’s Users, arbitration is effective, efficient and fosters Continuous business relationships between parties. In recent times, Lawyers with minimal training in arbitration may have indirectly imported the traditional practice of technicalities which occasion delays in the Court into arbitration.
This has seen arbitration references spanning periods between 6-48months before conclusion. Users have condemned this trend as it makes the use of Arbitration less fashionable and attractive for the very purpose for which it was conceptualized- quick and effective dispute resolution mechanism. Nigeria has been in the forefront of advocating the use of Arbitration for resolving commercial disputes thereby strengthening its laws and Rules.
Presently, the Arbitration and Conciliation Act, Laws of Federation, 2004 is currently being amended and awaiting Nigeria’s outgoing President Muhammad Buhari, to accent it before the lapse of his tenure.
by Legalnaija | May 17, 2023 | Uncategorized
Folashade Alli is a Partner at Folashade Alli & Associates, and brings over 30 years breadth and depth of experience to significant commercial projects and strategic transactions. She has a skill for solving complex legal problems and her expertise makes her an exceptional lawyer with strong business acumen. A Chartered Arbitrator, Folashade Alli is recognized as one of the leading arbitrators in Nigeria with over 35 years’ experience cutting across Commercial legal practice and International Arbitration. Mrs Alli is a member of several local and international Institutions include;
- Member ICC Commission on Arbitration and ADR
- Member of the ICC Task Force on Corruption in International Arbitration
- Chairman of the Nigerian Bar Association Section on Legal Practice Professional Ethics Committee
- Vice-Chairman of the Nigerian Bar Association, Section on Business Law Committee on International
Trade Law
- Executive Committee Member of the Chartered Institute of Arbitrators (CIArb) UK (Nigeria Branch)
- Member of the Professional Conduct Committee of the Chartered Institute of Arbitrators (CIArb) UK
- Treasurer of the Nigeria Bar Association, Section on Legal Practice
Boards:
- Governing Council of Afe Babalola University
- Board of Governors, Day Waterman College, Ogun State
- Board of Trustees, United Way Greater Nigeria (UWGN)
- Board of Directors, AIFA Reading Society
Details of the Training:
Theme: “New Developments In Corporate Law”.
Date: 25th and 26th May, 2023
Time: 9am – 5pm daily
Modules:
– Tax Law
– Ethics and Corporate Governance
– Energy Law
– ESG And Risk Management
– Capital Markets And Securities Law
– Commercial Arbitration
Members of Faculty
– Mr. Tolu Aderemi (Partner Perchstone & Graeys)
– Mrs. Folashade Alli (Partner, Folashade Alli & Associates)
– Dr. Ayodele Oni (Partner, Bloomfiled Law Practice)
– Mr. Chukwua Ikwuazom SAN (Partner, Aluko & Oyebode)
– Miss Bukola Iji (Partner, SPA Ajibade & Co.)
– Mr. Dayo Adu (Partner, Famsville Solicitors)
Physical registration:
Fee: 70,000 Naira
Early Bird: 60,000 Naira (ends 15th May, 2023)
Venue: NECA House, Alausa, Ikeja, Lagos
Reg link: https://linktr.ee/Lawlexis
Virtual Session (ZOOM)
Early Bird: 40,000 (ends 15th May, 2023)
Regular Fee: 50,000
Registration Link: https://bit.ly/3KEW99c
Bank Transfer Details;
Name: Lawlexis International
Bank: Fidelity Bank
Acct Num: 4011176564
Registration fee covers lecture materials, and Certification. Participants also get 10 ICLE Points for participation.
by Legalnaija | May 17, 2023 | Uncategorized
Bukola is a Partner at S. P. A. Ajibade & Co and is currently the departmental head for Capital Markets. She has comprehensive knowledge of IPOs, rights issues and other capital raising exercises. She advises on legal issues arising under the Investment and Securities Act, the Rules and Regulations of the Securities and Exchange Commission, the Pension Reform Act, the Banks and Other Financial Institutions (Amendment) Act, the Supervisions Circulars & Guidelines of the Central Bank of Nigeria and the Listing Rules of the Nigerian Stock Exchange.
’Bukola also advises on corporate structuring and restructuring, including joint venture agreements, equity incentive plans, shareholder agreements, mergers and acquisitions. She recently led a team that provided services to a private equity fund by conducting compliance and governance due diligence (in line with the World Bank ESG Toolkit) on two investee companies; an online travel company and an agro chemical/crop yield advancement and production company. She has also acted as Company Secretary for an insurance company and in that capacity was in-house counsel with responsibility for the re-capitalization and subsequent merger of the company with another insurance company.
Details of the Training:
Theme: “New Developments In Corporate Law”.
Date: 25th and 26th May, 2023
Time: 9am – 5pm daily
Modules:
– Tax Law
– Ethics and Corporate Governance
– Energy Law
– ESG And Risk Management
– Capital Markets And Securities Law
– Commercial Arbitration
Members of Faculty
– Mr. Tolu Aderemi (Partner Perchstone & Graeys)
– Mrs. Folashade Alli (Partner, Folashade Alli & Associates)
– Dr. Ayodele Oni (Partner, Bloomfiled Law Practice)
– Mr. Chukwua Ikwuazom SAN (Partner, Aluko & Oyebode)
– Miss Bukola Iji (Partner, SPA Ajibade & Co.)
– Mr. Dayo Adu (Partner, Famsville Solicitors)
Physical registration:
Fee: 70,000 Naira
Early Bird: 60,000 Naira (ends 15th May, 2023)
Venue: NECA House, Alausa, Ikeja, Lagos
Reg link: https://linktr.ee/Lawlexis
Virtual Session (ZOOM)
Early Bird: 40,000 (ends 15th May, 2023)
Regular Fee: 50,000
Registration Link: https://bit.ly/3KEW99c
Bank Transfer Details;
Name: Lawlexis International
Bank: Fidelity Bank
Acct Num: 4011176564
Registration fee covers lecture materials, and Certification. Participants also get 10 ICLE Points for participation.
by Legalnaija | May 17, 2023 | Uncategorized
Dr. Ayodele Oni is a Partner at Bloomfield LP and continues to provide excellent and commercially savvy legal solutions, in connection with electricity, oil & gas projects, financing, acquisitions and restructuring. He has a knack for creating ingenious and effective strategies to ensure the success of transactions he is involved in. Ayodele is also an active leading voice and thought leader in the development of many transformative policy changes in Nigeria, especially in the energy (oil, gas and electric power) sector. Specifically, he has played key roles in developing template documents, rules and regulations, used in the natural gas and electric power sectors.
Ayodele has also been recognized as being “in a league of his own” by the internationally renowned directory, Who’s Who Legal and has also been ranked amongst the World’s leading lawyers in the Chambers and Partners and The Legal 500. Ayodele has been actively involved in several oil and gas transactions, including the Shell divestment deals and Chevron’s divestment of interests in a number of oil mining leases. He has also advised and continues to advise on a number of marginal fields transactions (including the year 2020 marginal fields bid round) and several oil and gas acquisition, divestment and financing transactions.
Ayodele was part of the team that provided legal advisory to the Bureau of Public Enterprises on the post-privatization restructuring of the electric power sector. He has also provided legal, policy and regulatory support to the Nigerian Electricity Regulatory Commission. Furthermore, he has advised the World Bank on electric power sector related issues. Ayodele maintains a seat at the table in the negotiation of almost all major electric power sector transactions in Nigeria and remains key in the negotiation of energy (including refining and pipeline) infrastructure projects and financing transactions, across Nigeria. He has been described as being “responsive and valuable”, is noted for “excellent service” and his “keen work ethic and an unyielding commitment to quality”. He is an adjunct lecturer and author of leading energy texts.
Details of the Training:
Theme: “New Developments In Corporate Law”.
Date: 25th and 26th May, 2023
Time: 9am – 5pm daily
Modules:
– Tax Law
– Ethics and Corporate Governance
– Energy Law
– ESG And Risk Management
– Capital Markets And Securities Law
– Commercial Arbitration
Members of Faculty
– Mr. Tolu Aderemi (Partner Perchstone & Graeys)
– Mrs. Folashade Alli (Partner, Folashade Alli & Associates)
– Dr. Ayodele Oni (Partner, Bloomfiled Law Practice)
– Mr. Chukwua Ikwuazom SAN (Partner, Aluko & Oyebode)
– Miss Bukola Iji (Partner, SPA Ajibade & Co.)
– Mr. Dayo Adu (Partner, Famsville Solicitors)
Physical registration:
Fee: 70,000 Naira
Early Bird: 60,000 Naira (ends 15th May, 2023)
Venue: NECA House, Alausa, Ikeja, Lagos
Reg link: https://linktr.ee/Lawlexis
Virtual Session (ZOOM)
Early Bird: 40,000 (ends 15th May, 2023)
Regular Fee: 50,000
Registration Link: https://bit.ly/3KEW99c
Bank Transfer Details;
Name: Lawlexis International
Bank: Fidelity Bank
Acct Num: 4011176564
Registration fee covers lecture materials, and Certification. Participants also get 10 ICLE Points for participation.
by Legalnaija | May 17, 2023 | Uncategorized
Tolulope Aderemi is a John Taylor scholar of the prestigious University of Aberdeen, Scotland, a Visiting Professor at the Afe Babalola University, Ado-Ekiti, a Doctoral student at the Durban University of Technology, South Africa He is the Chairman, International Law Association (ILA) Arbitration Committee, Chairman, Section on Business Law of the Nigerian Bar Association, Training Committee and Partner/Director, Perchstone & Graeys Consulting Limited (UK), the United Kingdom branch of the company. Tolulope’s expertise has been firmly established in oil & gas, power/electricity, commercial litigation and international arbitration. In 2021, his portfolio expanded into superintending over the Perchstone & Graeys’ Consulting Services (UK) whose focus is to drive multi-jurisdictional investment into Nigeria from diverse areas which include but not limited to oil & gas, fintech, power and real estate.
Tolulope is a member of the International Chamber of Commerce (ICC), Commission on Arbitration & ADR pursuant to his nomination by Nigeria to Paris. He is a member of the Arbitration and Dispute Resolution Committee of the International Bar Association (IBA) as well as a member of the Chartered Institute of Arbitrators (UK), Nigerian Branch. Tolulope is an accomplished author and editor of several sector-focused book publications some of which include one of Nigeria’s best texts on arbitration; the International Commercial Arbitration: A Practitioner’s Perspective’ and more recently, a book titled ‘From the Ivory Tower To The Hallowed Halls of Justice, a book in honour of retired Hon. Justice Mojeed Owoade of the Nigerian Court of Appeal.
Details of the Training:
Theme: “New Developments In Corporate Law”.
Date: 25th and 26th May, 2023
Time: 9am – 5pm daily
Modules:
– Tax Law
– Ethics and Corporate Governance
– Energy Law
– ESG And Risk Management
– Capital Markets And Securities Law
– Commercial Arbitration
Members of Faculty
– Mr. Tolu Aderemi (Partner Perchstone & Graeys)
– Mrs. Folashade Alli (Partner, Folashade Alli & Associates)
– Dr. Ayodele Oni (Partner, Bloomfiled Law Practice)
– Mr. Chukwua Ikwuazom SAN (Partner, Aluko & Oyebode)
– Miss Bukola Iji (Partner, SPA Ajibade & Co.)
– Mr. Dayo Adu (Partner, Famsville Solicitors)
Physical registration:
Fee: 70,000 Naira
Early Bird: 60,000 Naira (ends 15th May, 2023)
Venue: NECA House, Alausa, Ikeja, Lagos
Reg link: https://linktr.ee/Lawlexis
Virtual Session (ZOOM)
Early Bird: 40,000 (ends 15th May, 2023)
Regular Fee: 50,000
Registration Link: https://bit.ly/3KEW99c
Bank Transfer Details;
Name: Lawlexis International
Bank: Fidelity Bank
Acct Num: 4011176564
Registration fee covers lecture materials, and Certification. Participants also get 10 ICLE Points for participation.
by Legalnaija | May 17, 2023 | Uncategorized
Chukwuka Ikwuazom heads the Taxation practice and is a key member of our Litigation, Dispute Resolution and Risk Management practice at Aluko & Oyebode. Chukwuka has considerable tax advisory and adjudicatory experience. He renders ongoing tax advice to the Firm’s clients, including those in the oil and gas sector. He has also represented clients in tax litigation before several courts in Nigeria. As a Partner in our Litigation, Dispute Resolution and Risk Management practice, Chukwuka has worked closely with Babatunde Fagbohunlu as lead counsel in representing clients in numerous litigation and arbitration proceedings. Chukwuka was a key member of the team (led by Babatunde Fagbohunlu) which won a favourable award for our clients in an arbitration involving several tax disputes arising from the operation and performance of a 1993 PSC executed between the Nigerian National Petroleum Corporation and a number of IOCs.
Details of the Training:
Theme: “New Developments In Corporate Law”.
Date: 25th and 26th May, 2023
Time: 9am – 5pm daily
Modules:
– Tax Law
– Ethics and Corporate Governance
– Energy Law
– ESG And Risk Management
– Capital Markets And Securities Law
– Commercial Arbitration
Members of Faculty
– Mr. Tolu Aderemi (Partner Perchstone & Graeys)
– Mrs. Folashade Alli (Partner, Folashade Alli & Associates)
– Dr. Ayodele Oni (Partner, Bloomfiled Law Practice)
– Mr. Chukwua Ikwuazom SAN (Partner, Aluko & Oyebode)
– Miss Bukola Iji (Partner, SPA Ajibade & Co.)
– Mr. Dayo Adu (Partner, Famsville Solicitors)
Physical registration:
Fee: 70,000 Naira
Early Bird: 60,000 Naira (ends 15th May, 2023)
Venue: NECA House, Alausa, Ikeja, Lagos
Reg link: https://linktr.ee/Lawlexis
Virtual Session (ZOOM)
Early Bird: 40,000 (ends 15th May, 2023)
Regular Fee: 50,000
Registration Link: https://bit.ly/3KEW99c
Bank Transfer Details;
Name: Lawlexis International
Bank: Fidelity Bank
Acct Num: 4011176564
Registration fee covers lecture materials, and Certification. Participants also get 10 ICLE Points for participation.
by Legalnaija | May 17, 2023 | Uncategorized
“The Police is your friend.”
This phrase was intended to be reassuring and to help rebrand the Nigerian police force, but this PR bird did not just take flight. In fact, according to Vera Onana, a phrase that was intended to allay public misgivings and fears about the police only served to make it out to be a hilarious irony. Additionally, using “is” rather than “are” is a glaring grammatical mistake given that the phrase is plural.
This article does not, however, attempt to evaluate the English language proficiency of the Nigerian Police Force or critique a public relations campaign that failed to have the desired effect. Neither will this article take you on a depressing tale of the statistics on police brutality in Nigeria. This article will make better use of your time.
It is important to recognize that public perception is not homogenous and that opinions can vary significantly within and across communities. However, many Nigerians do not hold the Police in very high regard. Scratch: Many Nigerians do not hold law enforcement in very high regard, and for very good reasons too!
However, none of the very good reasons for mistrusting law enforcement is also an excuse to assault a police officer or any law enforcement officer. But if you are a celebrity or very powerful personality and you need other compelling factors to convince you why you must not, against your better judgment, assault a police or law enforcement officer other than notable and obvious reasons such as assaulting a law enforcement officer being a criminal act and it being a direct act of disrespect for their authority and the rule of law they represent, then let me quickly spell out other reasons why you should not assault or condone the assault of a police officer.
- Upholding the Rule of Law: Assaulting a police or law enforcement officer undermines the very foundation of the rule of law. The rule of law ensures that everyone is subject to and protected by the law, including both civilians and law enforcement personnel. When an officer is assaulted, it sends a message that some individuals believe they are above the law or can take justice into their own hands. This erodes trust in the legal system and can lead to a breakdown in social order.
- Protecting Public Safety: Despite their well-documented failings, police and law enforcement officers play a crucial role in ensuring public safety. They respond to emergencies, investigate crimes, and maintain order in society. Assaulting an officer not only puts their safety at risk but also hampers their ability to carry out their duties effectively. By attacking a law enforcement officer, individuals jeopardize the safety of the community they serve, as it may deter officers from taking proactive measures to prevent crime and protect citizens.
- Preserving the Integrity of the Justice System: Assaulting a police or law enforcement officer can have far-reaching implications for the integrity of the justice system. Officers are often called upon to serve as witnesses in criminal cases, and their credibility and reliability are essential to ensuring a fair trial. When an officer is assaulted, it can undermine their ability to provide accurate testimony or cooperate fully with investigations, leading to challenges in prosecuting offenders and potentially resulting in miscarriages of justice.
- Promoting Respect for Human Rights: You cannot fight for human rights for all while neglecting the rights of others. Respect for human rights, including the right to physical integrity and security, is a fundamental principle that societies strive to uphold. Police and law enforcement officers are tasked with protecting these rights and ensuring justice for all. Assaulting an officer violates their basic human rights and, by extension, undermines the principle of respecting the rights of others. Upholding the sanctity of human rights is vital for maintaining a just and equitable society.
- Fostering Trust and Collaboration: Trust between law enforcement and the community is essential for effective crime prevention and solving cases. Assaulting an officer erodes the trust and cooperation necessary for a productive relationship between law enforcement and the public. When trust is lost, individuals may be less willing to come forward with information or seek assistance from law enforcement, hindering efforts to address crime and maintain community safety.
I am not under any presumptions, and I understand that many of us are disgruntled and angry at the “system” and the agencies that serve it, particularly law enforcement agencies and agents. However, we must deconstruct the system and look beyond the veil of these agents, who are trained to carry out instructions to the latter. It’s essential to recognize that police and law enforcement officers are part of a larger system and are often tasked with carrying out instructions or policies set by higher authorities or governing bodies. It’s crucial to separate the actions of individual officers from the broader systemic issues that may exist.
Addressing grievances and seeking change in the system requires understanding the underlying structures, policies, and practices that shape law enforcement agencies. By directing attention towards systemic issues, it becomes possible to advocate for meaningful reforms that can lead to more equitable and just outcomes.
It is important to approach these efforts with a constructive mindset, acknowledging that the vast majority of law enforcement officers strive to fulfill their duties responsibly and ethically. By focusing on systemic factors and engaging in meaningful discussions and actions, it becomes possible to drive positive change while promoting a more just and accountable law enforcement system.
It’s important to note that while assaulting law enforcement officers is considered wrong, this does not mean that law enforcement is immune to criticism or that individual officers are exempt from accountability for any wrongdoing. Upholding the law and maintaining order should always be balanced with respect for human rights and the principles of justice.
So, while the Nigerian Police Force is not your friend, it is neither your enemy, and you should not assault a police or law enforcement officer—not even if you are the son of an Afrobeat legend.
Annakar, Hallelujah Tor Esq. is a lawyer based in Abuja with interests in corporate commercial law, technology and human rights.
