By Esther Odunze & Collins Okeke On a mission to spur economic integration and growth in Africa, African nations have joined hands to create the African Continental Free Trade Area (AfCFTA). According to Investopedia, a free trade area is a region in which two or more nations have signed a free trade agreement to reduce barriers…
Hot pursuit is the right of a coastal state to continue, outside its territorial sea, contiguous zone, or certain adjacent areas, the pursuit of a foreign vessel that has violated its laws and regulations while in its internal waters or territorial sea, contiguous zone, or certain adjacent areas. The pursuit must, however, have started as soon as the violation occurred and not been aborted.
“Taxable person” includes an individual or body of individuals, family, corporations sole, trustee or executor or a person who carries out in a place an economic activity, a person exploiting tangible and intangible property for the purpose of obtaining income therefrom by way of trade or business or a person or agency of Government acting in that capacity.
In delivering its judgment, the Court of Appeal held that a lawyer or firm of lawyers in private practice provides legal services for a fee, and so are taxable persons bound by sections 1, 2, 14(1), 15(1) and 46 of the VAT Act to pay VAT to the FIRS for legal services they provide. In the words of the Court of Appeal,…
By Mary-Cynthia Okundaye and Yvonne Ezekiel Olisa Agbakoba Legal (OAL) Mergers and acquisitions (M&A) can be a powerful tool for businesses looking to expand their operations, enter new markets, and achieve economies of scale. However, M&A transactions are complex and involve significant risks and challenges. These challenges could be due to a variety of factors, including strategic, financial, and…
Over time, the Central Bank of Nigeria (CBN) has adopted different exchange rate systems, such as controlled, floating, and managed float, alongside intermittent interventions, all aimed at achieving extended market stability. The controlled exchange rate system is that in which the central bank determines a fixed exchange rate, while floating exchange rate system allows the determination of the rate by market forces. Meanwhile, the managed float exchange rate system allows the influence of demand and supply to determine the exchange rate but also allows occasional involvement by the central bank to manage persistent fluctuations.
By Tobenna Nnamani PUNUKA Attorneys & Solicitors Introduction Nigeria, officially the Federal Republic of Nigeria is the most populous country in Africa and often referred to as the “giant” of Africa. She gained her independence from the United Kingdom on October 1, 1960 and comprises of 36 states and the Federal Capital Territory Abuja. The 1999…
The UN noted that access to the internet needed to be anchored in a human rights-based approach, and that the internet should be open, accessible, and nurtured by multi-stakeholder participation. In this regard, it is safe to say that the UN’s action in ensuring that access to the internet right is a fundamental human right is hinged on several factors anchored on several other rights. This was shown in the recent wave of demonstrations and protests across west, central and northern Africa. The Black Lives Movement, #EndSars movement, elections in Brazil, Kenya, Nigeria, and Lesotho which were greatly influenced by social media and the internet, demonstrate the need to facilitate access to the internet for all persons.
It is also necessary to note an expert testimony is not immune from being affected by hearsay and thus inadmissible. The legal position is that if what purports to be an expert report is, in fact, hearsay evidence or was, on a particular point, based on hearsay evidence, it can be perfectly rejected.
It seems Maikyau has allowed his 2nd identity as the APC Lawyer to influence or impart negatively on his 3rd identity as NBA President. When you see news items like “NBA President Y.C. Maikyau, SAN thanked President Tinubu for appointing Lateef Fagbemi, SAN as the AGF” you begin to wonder if the Constitution permits appointment of a Medical Doctor as an AGF, hence the appreciation for the favour done NBA by the President.
Section 89(1) of the Act provides that no licensee shall supply electricity after the expiration of the date appointed by NERC except through installation of a proper meter in accordance with the relevant regulations made by NERC.