scholarly works

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    procedure for registration of charges in Nigeria- need for urgent reforms
    (2014-08-09) Aina, K
    The use of arbitration in commercial transactions is a vital and important aspect of every commercial agreement. This is due to the advantages of arbitration over the regular court adjudicatory process. The problem is no matter how good and impeccable the arbitral process is the law still requires that arbitral award be recognized for enforcement by the court. This paper assessed the procedure for the enforcement of arbitral domestic awards in Nigerian High Courts, examined the different forms as provided in the rules, particularly the use of Motion on Notice and Originating Summons for enforcement of arbitral award, whether these procedural forms of application are adapted or suitable for enforcement of arbitral awards or whether there should be a more flexible mode of enforcing an award and concluded that the procedures are not adequate, and totally at variance with current international standards. The paper also makes recommendation for reforms.
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    Asset management corporation of Nigeria – a pretentious special purpose vehicle
    (2015-01-01) Aina, K
    In contemporary financial world, business organisation most especially financially distressed companies and companies with low or mid-tier credit ratings have securitised different types of assets (loans, credit cards, auto receivables, intellectual property, etc.) through the use of SPVs .The enactment of the AMCON ACT 2010 was specifically to bail out the Nigerian banks by buying and taking over the 'toxic' assets that were threatening to destroy the banks and the economy. This paper analysed the essential features of the procedure for securitisation and asset management modules as a background to critically examine the AMCON ACT and whether the Asset Management Corporation is an SPV or not. The paper concludes that AMCON is not an SPV but a special statutory creation to solve a special problem confronting the banks and the economy.
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    A review of corporate governance codes and best practices in Nigeria
    (2015-07-25) Aina, K; Adejugbe, B
    Nigeria is lacking behind in terms of development of its corporate governance, codes, policies and enabling laws, this is in contrast to the United Kingdom's regular review and updated corporate governance codes, principles and Best Practices. The UK is continuously reviewing and updating its corporate governance codes and policies. This paper examines the development of corporate governance mechanisms in the UK and Nigeria and further seeks to advocate for a review and update of Nigeria's corporate governance standards to meet global best practices.
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    Successive development of social security laws in Nigeria
    (School of Law & Security Studies, Babcock University Ilishan - Remo, Ogun State, Nigeria, 2019-10) Anifalaje, K.
    The paper examines the legislative strides of the Nigerian policy makers in the provision of social security for the citizenry from the colonial era up to the present time. In fashioning out the existing social security schemes in Nigeria, it has become necessary for some laws to either be amended or repealed. The paper discusses the progressive development of these laws and highlights the extent of their compliance with prescribed minimum international Standards. The paper argues that, though much legislative Intervention towards fulfilling the fundamental objective of section 14(2)(b) of the 1999 Nigerian Constitution has been made, there are still some basic issues that need to be addressed in order to further expand the scope of social security provisioning. The paper concludes by proffering suggestions on how to consolidate on the extant laws in order to secure the much needed social safety net to the generality of the Nigerian citizenry.
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    The status of local purchasing order in a contract of sale of goods: a critique of the rights-based approach in Abba v. Shell petroleum development company of Nigeria limited
    (Faculty of Law, Redeemer's University, Ede, Nigeria, 2022) Osuntogun, J. A.; Anifalaje, K.
    This paper examined the judgment of the Supreme Court of Nigeria in Abba v. Shell Petroleum Development Company of Nigeria Limited on the status of Local Purchase Order (LPO) in a contract of sale of goods. Contrary to the general rule in most countries of the world, including the United States of America and Uganda, that the LPO constitutes an offer in the law of contract, the Supreme Court held that it was an invitation to treat which is not enforceable in law. Consequently, this paper subjects this decision into a critical examination with a view to determining its accuracy. For this purpose, it interrogates the role of offer and acceptance and in particular the invitation to treat in the formation of the contract of sale of goods. It also discusses the question of what time it could be said that parties have entered into a contract of sale of goods. It interrogates the legal Status of the LPO in commercial transactions and how the status might affect the result of the application of offer and acceptance in a contract, particularly the contract of sale of goods. It concludes that, although the decision in Abba's case cannot be reconciled with similar decisions not only in Nigeria but also globally, it can be justified using the rights-based approach.
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    Strides in reforms of workmen’s compensation law in Nigeria
    (School of Law & Security Studies, Babcock University Ilishan - Remo, Ogun State, Nigeria, 2009-01) Anifalaje, K.
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    Probative value of evidence in forensic trials in Nigeria
    (Faculty of Law, Olabisi Onabanjo University, Ago-Iwoye, Ogun State, Nigeria, 2009-01) Anifalaje, K.
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    Reflections on legal controls of financial distress in Nigerian banks
    (Department of Private and Commercial Law, Faculty ofLaw, Olabisi Onabanjo Ur.iversity, Ago-lwoye, Ogun State, Nigeria, 2003) Anifalaje, K.
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    Legal framework for national health insurance in Nigeria and Ghana: a comparative analysis
    (2014) Anifalaje, K.
    A comparative analysis is made of the legal framework for National Health Insurance in Nigeria and Ghana from the prism of organisational structure, coverage, financing mechanism and benefit package with a view to determining the relevance and adequacy of the Nigerian archetype of health insurance in providing qualitative healthcare services to the citizenry. Our major conclusion is that unlike the Ghanaian health insurance scheme which has extended coverage to quite a large number of the population, health insurance is still a mirage to a larger percentage of the Nigerian citizenry especially the vulnerable groups because of the identified limitations in terms of coverage, financing and benefit package of the National Health Insurance Scheme. Requisite reform proposals to address these lacunae within the context of the general health care system are offered in order that the health insurance law in Nigeria may be sufficiently strengthened to make it internationally competitive, fulfill the yearnings and aspirations of the average Nigerian for qualitative healthcare services and to enhance the overall productivity of the nation. The article concludes with a call for effective integration of the primary health care system as a foundation for having a truly universal health insurance scheme in Nigeria.