Legal Audit as a Crucial Response to the Legal and Financial Uncertainties Faced by Organisations in the 21st Century
If we are left intact, we would try to fix the department to what it ought to be –effective, efficient and responsive to the public. I see myself as part of the solution. This audit is something we requested. Helen White INTRODUCTION The term legal audit may sound unfamiliar in the Nigerian businesses due to […]
Covid-19 Pandemic: A Force Majeure to Reckon with in Business Today
As at April 5, 2020 the World Health Organisation (“WHO”) has reported over two hundred countries/territories/areas with confirmed cases of the COVID-19 pandemic with the Falkland Islands (Malvinas) joining the list of territories with confirmed cases in the past 24 hours. Nigeria has reported 230 cases and 6 deaths. The world has over 1,200,000 confirmed […]
NERC Issues Order on the Transitional Accounting Treatment of Tariff Related Liabilities in the NESI as Part of Implementation of the PSRP
The Power Sector Recovery Program (PSRP) which was approved by the Federal Executive Council on the 22nd of March 2017 has as its program scope, the de-risking of the power sector for private investment through a comprehensive package of financial, operational, governance, and policy interventions. According to the PSRP, between February 2015 and December 2016, […]
Operation Amotekun – Is it Valid Under Nigerian Constitution?
The Western Nigeria Security Network code named Operation Amotekun has been described as a regional “security formation” or “outfit” set up to complement the efforts of the police in the area of combating kidnapping, armed robbery as well as herdsmen and farmers contentions in the Western region. Till date, no law establishes and/or define the […]
The Impact of the 2020 Finance Act on the Oil and Gas Industry in Nigeria
So, we’ve all heard about the trending Finance Act, 2020 (the “Act”) signed into law by President Muhammadu Buhari on Monday 13th January, 2020. The Act has made sweeping changes to a number of existing tax laws namely: Companies Income Tax Act, Value Added Tax Act, Customs and Excise Tariff Act, Personal Income Tax, Capital […]
A Consideration of the Amendments to the Deep Offshore and Inland Basin Production Sharing Contract Act
On the 4th of November, 2019, President Muhammadu Buhari signed the Deep Offshore and Inland Basin Production Sharing Contract (PSC) Amendment Bill into law. The amendment introduced major changes to the Deep Offshore and Inland Basin Production Sharing Contract Act (the PSC Act or the Act). Before considering the amendments in detail, we give a […]
Upturning the $9.6 Billion Arbitral Award Granted P&ID
A little storm has been brewing since the $9.6 billion arbitral award against Nigeria in favour of P&ID. The processes leading up to the GSPA agreement subject of the award have been intensively reviewed by the EFCC and by various committees of the present government. New facts suggesting acts of fraud by agents of both […]
Ruga Policy and the Limits of the Powers and/or Authorities of the Executive Governors of States and Federal Government of Nigeria Over Lands Under the Land Use Act
The advent of the new millennium has seen an escalation of the crisis between cattle herders (pastoralists) and farmers in Nigeria. The worst of this conflict has been in the North Central states, particularly Benue, Plateau and Nasarawa. In recent times, there has been a peaking of the crisis, as the conflict has begun to […]
Share Buyback Scheme an Unexplored Corporate Management Tool
A share buyback occurs when a company repurchases its shares from its shareholders. It is a situation where a company is investing in itself. In the past, this had given room to unscrupulous managers and promoters of companies to perpetrate fraud by creating an artificial buoyancy of the shares of companies and encourage dangerous speculative […]
Corporate Governance and Investor Confidence in Nigeria
The potential of an economy to attract investment depends largely on the state of governance of the economy and the policy thrusts of the managers of the economy. The primary duty of the managers of an economy is to use and maximize the limited resources of the economy efficiently to achieve the objectives of the […]
