THE DOCTRINE OF SEVERABILITY AS IT RELATES TO ARBITRATION CLAUSES IS NO LONGER ABSOLUTE – A SALIENT DEVELOPMENT IN THE ARBITRATION & MEDIATION ACT, 2023.
Introduction Typically, arbitration clauses are treated as independent and separate agreements, distinct from the main or underlying contract between the parties. It therefore follows that when a contract which is the subject of an arbitration clause is terminated, the arbitration clause survives the terminated contract. In other words, parties would still be bound by an
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EXAMINING THE EVOLUTION AND DEVELOPMENT OF CARBON CREDIT MARKETS IN NIGERIA
Background In 2015, the world reached a defining moment in its collective response to climate change. Through the Paris Agreement, 196 countries committed to limit the rise in global temperatures to well below 2°C above pre-industrial levels, while pursuing efforts to cap warming at 1.5°C.[1] This marked the first universal accord to bind both developed
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NIGERIA REMOVED FROM FATF GREY LIST: IMPLICATIONS FOR NIGERIA’S FINANCIAL AND BUSINESS ECOSYSTEMS.
Introduction The Financial Action Task Force (the ‘‘FATF’’) is an inter-governmental body that develops and promotes 40 recommendations that serve as the fundamental framework for combating money laundering, terrorist financing, and related financial crimes in the global financial system. It evaluates the implementation of these recommendations and monitors the progress of countries found to have
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CRIMINALIZATION OF FAILURE TO OBTAIN ADVERTISING APPROVAL AND UNJUSTIFIED PIERCING OF CORPORATE VIELS BY ARCON – WRONGFUL AND ULTRA VIRES ENFORCEMENT OF ADVERTISING RULES IN NIGERIA
Introduction The Nigerian advertising and marketing communications landscape and industry continues to undergo significant transformation following the enactment of the Advertising Regulatory Council of Nigeria (ARCON) Act, 2022 (“the Act”) and the revised Nigerian Code of Advertising Practice. These instruments introduce far-reaching provisions that redefine the scope of advertising and marketing communications towards ensuring that
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THE MULTI-SECTORAL REGULATORY POWERS OF THE FCCPC: AN APPRAISAL OF THE CASE OF EMEKA NNUBIA V. HONOURABLE MINISTER OF INDUSTRY, TRADE & INVESTMENTS
Introduction The Federal Competition and Consumer Protection Act 2018 (the ‘’FCCPA’’) established the Federal Competition and Consumer Protection Commission (the ‘’FCCPC’’ or ‘’Commission’’) and vests it with the mandate to regulate competition, ensure standardization of goods and most importantly consumer protection in Nigeria. Upon its establishment, the FCCPC started exercising regulatory oversight, power and authority
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LEGAL FOUNDATIONS FOR STARTUPS: BEYOND INCORPORATION INTO GROWT
Nigeria has experienced a remarkable surge in startup activity, but many of these startups do not survive beyond their formative years. This is because entrepreneurs often focus on two priorities: funding and talent. while neglecting the critical place of legal advice that sustains long term growth. While many startups in Nigeria celebrate incorporation with the
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LICENSING REQUIREMENTS AND REGULATORY FRAMEWORK FOR MICROFINANCE BANKS
Originally, microfinance banks were established to promote financial inclusion by providing accessible credit, savings and other financial services to low-income individuals and micro-entrepreneurs who were underserved by the commercial bank system[JA1] . Hence, the objective of the initiative was to stimulate economic activity, reduce poverty, and empower underserved communities. However, in recent years, the rise of
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PROTECTION OF IMAGE RIGHTS IN NIGERIA – A REVIEW OF THE DECISION OF THE COURT OF APPEAL IN BANIRE V. NTA-STAR TV NETWORK LIMITED
In the case of Banire v. NTA-Star TV Network Limited[1], the Court of Appeal, Per Honourable Baba Idris, JCA defined image rights or publicity rights as a person’s right against misappropriation of his name, likeness, physical appearances, nicknames, pictures, personal slogans etc. Simply put, it is the right of a person to control the public’s
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HOW EARLY TRADEMARK FILING PROTECTS YOUR BRAND
In this advanced digital age where imitation has become extremely easy, the best way to guarantee the protection of your brand is by registering it with the Trademarks registry. The earlier you register your brand, the more likely it is protected. This is because under Nigerian law, specifically section 3 of the Trademarks Act, 1967
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COMPANY ADMINISTRATION IN NIGERIA, A VIABLE CORPORATE INSOLVENCY ALTERNATIVE IN PURSUING OR PROTECTING COMPANY THAT ARE UNABLE TO PAY THEIR DEBT.
Prior to 2020, when a company is in financial distress and unable to pay its debt, the company’s creditors can choose to go after the company to recover their funds by initiating a liquidation process or receivership (if the debt is secure). In such instance, the creditor or creditors would typically approach the court under
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