Private & Business Law
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Item procedure for registration of charges in Nigeria- need for urgent reforms(2014-08-09) Aina, KThe 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.Item Asset management corporation of Nigeria – a pretentious special purpose vehicle(2015-01-01) Aina, KIn 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.Item A review of corporate governance codes and best practices in Nigeria(2015-07-25) Aina, K; Adejugbe, BNigeria 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.Item 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.Item 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.Item Enforcement of anti-corruption legislation in Nigeria: an appraisal(Dean’s Office, Faculty of Law, University of Ibadan, Nigeria & Society for Legal Research and Development, 2017-07) Anifalaje, K.The paper examines the meaning of corruption, its causes and dimensions within the Nigerian context. It also explores the legal framework targeted at combating the menace. It argues that though Nigeria has a wide array of laws in this area, corruption still flourishes in the country because the due implementation of the laws is being impeded by institutional and financial constraints as well as political and ethnic factors. Suggestions are preferred on how to successfully confront the menace and enhance the socio-economic development of the nation.Item Demystification of corporate independence theory in comparative law(Commercial Law Development Services, 2015-03) Anifalaje, K.The article examines the evolution of the common law theory of corporate personality and its accompanying benefits. By reference to empirical analysis, the paper explores the exceptions that have been made to the corporate independence theory by the legislature and the common law courts in comparative law. A succinct appraisal of those exceptions is made and it is concluded that the benchmark for ignoring the concept of corporate personality judging especially from the decisions of the courts has not followed any consistent pattern. The paper therefore argues for a need to have a more specific statutory guidelines to serve as reference points for the courts in appropriate cases when dealing with issues of lifting of the corporate veil especially between holding and subsidiary Companies.Item Analysis of the rights and duties of insurers in Nigeria(Ibadan University Press Publishing House University of Ibadan Ibadan, Nigeria, 2018) Anifalaje, K.The paper analyses the rights and duties of Nigerian insurers at common law emanating from the contractual relationship between the insurer and the insured as amplified or abridged under the statute. It argues that the statutory incursion into the common law rules of uberrimae fidei, insurable interest, conditions and warranties and assignment of policies, circumscribing some of the rights exercisable by the insurer against the insured to defeat just claims as well as expanding the scope of the insurer’s duties in order to improve on service delivery is salutary. The paper, however, concludes that further reform measures, aimed at addressing some other salient issues, are still essential in the overall interest of the insuring public.Item Comparative trends in the status and rights of the illegitimate child(2013) Anifalaje, K.This study seeks to examine the dual laws on illegitimacy in Nigeria and the changing fortune of the “illegitimate child” from the colonial era to the landmark provisions of section 39(2) of the 1979 Constitution (now section 42(2) of the 1999 Constitution of Nigeria. Although it has been a little over 33 years now since that Constitutional Provision came into effect, there is still much controversy within the academic circle as well as differing judicial decisions of the Courts on its full import and application. Whilst it is generally agreed and fairly settled from judicial 'Interpretation and application that the said Constitutional Provision has abolished the discriminatory practices against the illegitimate child especially in respect of maintenance and inheritance rights, opinions still differ on whether or not that Constitutional Provision has actually abolished the Status of illegitimacy in Nigeria. This study examines the pernicious effect of the common law policy and the unsavoury attitude of the society towards the illegitimate child and makes a case for the abolition of not only the legal incidents of the Status but also the Status itself. Relevant international and regional conventions on the subject as well as the legislative strides of some select developed and developing countries in their quest towards improving the lot of the illegitimate child and establishing legal equality between the legitimate child and the child born out of wedlock are also discussed with a view to highlighting the path to law reform in Nigeria.Item The bearing of domicile on marriage and matrimonial causes: a comparative perspective(Department of Business Law, Igbinedion University, Okada, Edo State, Nigera, 2012-05) Anifalaje, K.