Post Archives

In a bid to provide tax defaulters an opportunity to defray all unsettled tax liabilities, the Federal Government in Nigeria recently approved the Voluntary Assets Income Declaration Scheme. Under the Scheme, tax defaulters are required to voluntarily disclose any previously undisclosed asset and income relating to the preceding six (6) years of assessment within a nine (9) month period from July 1, 2017. It has been described as giving tax amnesty to defaulters albeit for a limited period. Read more

Until recently, the general belief and practice in relation to matters decided by the National Industrial Court (the Court) was that all decisions of the Court were final and could not be appealed against except issues relating to breach of fundamental human rights and criminal matters.

However, on June 30, 2017 the Supreme Court (SC) held otherwise, in the case of Sky Bank Nigeria Plc. VS Anaemem Iwu. A 5-man panel of the SC held that the jurisdiction of the Court of Appeal covers all appeals from the National Industrial Court and that jurisdiction is not limited to criminal matters or issues of fundamental human right. Read more

The Legal Practitioners Act CAP L11 LFN 2004, which is the main legislation that sets down the guidelines and regulations for the legal profession in Nigeria may soon be repealed come December 1, 2017.

There is currently a bill titled “A Bill for an Act to repeal the Legal Practitioners Act Cap C11 LFN 2004 and all amendments thereto; Legal Education (Consolidation etc.,) Act Cap. L10 LFN 2004 and enact the Legal Profession Regulation Act which shall regulate the legal profession” (the Bill) seeking to repeal the Legal Practitioners Act. Read more

In a bid to encourage and stimulate economic growth in the country, the National Assembly on the 27th of May 2017, passed into law, The Credit Reporting Act 2017 and The Secured Transactions in Movable Assets Act 2017 (also referred to as the “Collateral Registry Act”). In summary, these laws are aimed at assisting Micro and Small Medium Enterprises (MSMEs) obtain loan facilities from financers using immovable assets as collateral or securities. Read more

Nigeria’s far-reaching reform package, which includes further privatisation plans and new incentives for investors, will be a key focus in a report out soon by the global research and consultancy firm Oxford Business Group (OBG).

The Report: Nigeria 2017 will shine a spotlight on the country’s long-term strategy for boosting oil output, which will be steered by a major overhaul of the regulatory framework governing the sector. Read more

Next stop, the INTA pre-annual meeting reception jointly hosted by the law firms of O. Kayode & Co and Johnson Bryant.

Next was the Panel Discussion in celebration of the World IP Day hosted by the American Embassy in the Federal Capital Territory, Abuja, in collaboration with the IP First Group and the IP Committee of the NBA-SBL. Our Mr. Nwokedi was a panelist in that session. Read more

The recent brouhaha surrounding the ownership of the film “Okafor’s Law” said to be owned/produced by Omoni Oboli, a popular actress cum director and the recent vacation of the interim order against the film’s release by the court, has granted initial respite to a warring side as well as the eager movie buffs. Read more

STOP PRESS! Last stop, the joint press conference by major IP associations in Nigeria organised and hosted by the IP Committee of NBA-SBL in celebration of the World IP Day. In attendance were our Mr. Afam Nwokedi-Chairman IP Committee of the Nigerian Bar Association-Section on Business Law (IPC NBA-SBL), Mr. Otu Ukoyen- Secretary, Intellectual Property Law Association of Nigeria (IPLAN), Read more