FACULTY OF LAW

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Author: search.filters.author.Aina, K

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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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    challenges to grant of injunction pending appeal in Nigeria – way out
    (2013-08-01) Aina, K
    This paper examined the conditions for the grant of Order of Injunction Pending Appeal by Nigerian Courts. The paper traced the origin of the Order from the English authorities, and the adoption into the Nigerian judicial system. The author examined the High Court of Lagos State Rules and the Federal High Court Rules to establish the procedural source of the application of the Injunction Pending Appeal by the Courts and concluded that the rules do not support the Order. The confusion by the Courts in associating the conditions for the grant of Interlocutory Injunction and Injunction Pending Appeal was critically examined. The proper and acceptable conditions for the grant of the Order as laid down recently by the Supreme Court and a call for liberal application of the conditions by the Court as well as a suggestion for a change in the nomenclature concludes the paper.
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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.