UNDERSTANDING PRIVATE TRUST AND ITS BENEFITS IN NIGERIA
By: Kemfon Josephneke esq. A trust in simple parlance and as used in ordinary communication connotes confidence in another. Its conceptual starting-point of having confidence reposed in some other gave rise to moral obligations to which the courts through judicial precedent, aided by the legislature, have continued to develop it. The moral weight given to trust in ordinary usage crystallized into a formidable legal instrument with enforceable duties and liabilities. Today, a trust is an […]
UNDERSTANDING NIGERIA’S MARITIME INDUSTRY RESPONSE TO COVID-19
By: Kemfon Josephneke esq. Upon the outbreak of Covid19 in Nigeria, the Federal Government decided to declare a total cessation of movements of all persons and goods in Lagos, Ogun and the federal capital territory, Abuja. This decision was reinforced by some state governors that also proceeded to ban movement of persons and goods within their territory. The declaration of the Federal Government exempted some seaports and gave direction for seaports in Lagos to remain […]
FORCE MAJEURE AND THE PERFORMANCE OF CONTRACTUAL OBLIGATIONS IN A GLOBAL PANDEMIC
– NSEOBONG OKON, ESQ INTRODUCTION When parties enter into a contractual relationship, the intention is usually that such shall give rise to binding legal rights and obligations enforceable at the instance of the either of the parties. However, as parties cannot always anticipate the future, events may occur that significantly reduces the capacity of a party to perform his contractual obligation. That seems to be the situation at hand given the outbreak of Covid-19 declared […]
FILING OF TRADEMARKS IN NIGERIA
Trademark protection is essential for businesses operating in Nigeria to safeguard their unique brand identity and distinguish their products or services from competitors. Filing a trademark in Nigeria offers legal protection against unauthorized use and imitation, helping businesses build brand reputation and consumer trust. This article aims to provide a comprehensive guide on the process of filing trademarks in Nigeria, covering the key steps and requirements. 1. Understanding Trademarks A trademark is a distinctive symbol, […]
Banking & Finance
BANKING AND FINANCE THE STRUCTURE OF THE NIGERIAN FINANCIAL SYSTEM INTRODUCTION The Nigerian financial system comprises of bank and non-bank financial institutions which are regulated by the Federal Ministry of Finance (FMF), Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), Securities and Exchange Commission (SEC), National Insurance Commission (NAICOM), Federal Mortgage Bank of Nigeria (FMBN), and the National Board for Community Banks. Regulatory Authorities The Federal Ministry of Finance (FMF) […]