Insights

Oct 2019 PUBLICATIONS

Introduction Limitation laws prescribe the period within which an aggrieved party can initiate an action to enforce a legal right. These laws seek to encourage parties to enforce their legal rights timeously and to avoid stale claims. There are several justifications for limitation laws. However, two of such justifications are prominent. The first is that …

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Sep 2019 PUBLICATIONS

Prior to the enactment of the Electric Power Sector Reform Act, 2005 (“EPSRA” or the “Act”), the methodology for setting electricity prices in Nigeria had been vague and uncertain. One of the primary reforms that the Act introduced was to empower the Nigerian Electricity Regulatory Commission (“NERC”) to develop a cost-reflective tariff regime for the …

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Mar 2019 PUBLICATIONS

The National Housing Fund (Establishment) Bill (the “Bill”) 2018, passed by both houses of the National Assembly, was on 18 February 2019 transmitted to the Office of the President for Presidential Assent. The Bill, if signed into law, will repeal and replace the extant National Housing Fund (Establishment) Act Cap N45 Laws of the Federal …

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Jul 2018 PUBLICATIONS

There are two Bills currently pending before the National Assembly proposing amendments to the Personal Income Tax Act (as amended) 2011. 

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Jun 2018 PUBLICATIONS

After years spent in recession, Nigeria is now starting to see some upward movement in its GDP numbers. Such positive economic indicators offer good opportunities for investors. It is a nation that is fully focused on growing its economy. 

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Jun 2018 PUBLICATIONS

Companies in the European Union (the “EU”) have been preparing for 25 May 2018, the much anticipated date when the EU’s General Data Protection Regulation (“GDPR”) became effective. 

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Mar 2018 PUBLICATIONS

The Lagos State House of Assembly recently passed the Lagos State Electric Power Sector Reform Law (the “Law”) and same has since been assented to by the Lagos State Governor. The Law essentially aims to boost electricity supply in Lagos State (the State) through the establishment of an embedded power scheme and the creation of offences for energy theft. 

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Feb 2018 PUBLICATIONS

The 2015/2016 global crash in the price of crude oil caused a severe shock to the Nigerian economy, reliant as it is on this commodity for most of its foreign exchange earnings.

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Jan 2018 PUBLICATIONS

The Trademarks, Patents and Designs registry has escalated efforts to ensure that business owners and stakeholders alike have their needs met especially with respect to the publication of trademark application. The registry published Trademark Journals Vol.2 No. 1 on 24th November, 2017, Vol.3 No. 1 on 11th December 2017 and Vol. 4 No. 1 on 15th December 2017. 

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May 2017 PUBLICATIONS

This Banking Regulation guide provides a high level overview of the governance and supervision of banks, including legislation, regulatory bodies and the role of international standards, licensing, the rules on liquidity, foreign investment requirements, liquidation regimes and recent trends in the regulation of banks.

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Mar 2017 PUBLICATIONS

Following the success of the INTA first regional meeting in Africa titled “Building Africa with Brands”, held in Cape Town, South Africa, INTA has introduced the Roundtable (usually hosted in U.S cities) to Africa for the first time. The Africa roundtable committee members were drawn from Nigeria, South Africa and Kenya. The members are Uche Nwokocha (chair), Simon Brown, Afam Nwokedi, Lara Kayode, and John Syekei.

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Nov 2016 PUBLICATIONS

The Financial Reporting Council (“FRCN”) of Nigeria on the 17th of October 2016 issued a three-in-one National Code of Corporate Governance (“NCCG”), which seeks to provide regulations on corporate governance as it relates to, public and private companies registered under Nigerian law as well as Nigerian public entities.

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Aug 2016 PUBLICATIONS

Since the discovery of petroleum in Nigeria in 1956 at Oloibiri in the Niger Delta region of the country, the Nigerian Government has invested extensively in the oil and gas sector leading to the country’s dependence on the proceeds of petroleum exports, which account for about 90% of its gross earnings. 

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Aug 2016 PUBLICATIONS

The effective means standard defined in the cases of Chevron Corporation and Texaco Petroleum Company v The Republic of Ecuador (‘Chevron’) and White Industries Australia Limited v Republic of India (‘White Industries’ )is increasingly relied upon by investors encountering inordinate delays and disconcerting confusion in the judicial system of a host state.

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Jul 2016 PUBLICATIONS

Nigeria offers protection for a range of intellectual property rights including copyrights, trademarks, patents and designs. Being largely an importer of technology and finished products, trademark rights remains the most significant…

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Oct 2015 PUBLICATIONS

Nigeria is Africa’s most populous nation with a population of over 170 million people. Of these, it is estimated that less than 50% currently have access to electricity supply. Where access to electricity is available, a full day of uninterrupted electricity is not guaranteed.

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Aug 2015 PUBLICATIONS

As part of its ongoing attempts at stabilizing the value of the Naira as against other foreign currencies, the Central Bank of Nigeria (CBN) issued a circular to all Nigerian banks on the 4th of August 2015, prohibiting Nigerian banks from granting foreign currency loans to customers who solely generate Naira denominated revenues from their businesses.

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Jul 2015 PUBLICATIONS

On 7th April, 2015, the President of the National Industrial Court of Nigeria (‘NIC’) made 2 (two) subsidiary instruments with commencement dates of 6th April, 2015,

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May 2015 PUBLICATIONS

We are happy to come back to our readers with an update on current happenings in our jurisdiction, firstly, our brand new government.

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Apr 2015 PUBLICATIONS

In a bid to install and improve on an anti-money laundering regime in Nigeria and fight the financing of terrorism, the Money Laundering (Prohibition) Act 2011 (“the 2011 Act”) was enacted.

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Mar 2015 PUBLICATIONS

In 2014, a significant level of mergers and acquisitions (“M&A”) was recorded in various sectors of the Nigerian economy. The sectors included banking, oil and gas, food and beverages, power, insurance and manufacturing.

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Mar 2015 PUBLICATIONS

We bring to you the first edition of our bi-monthly publication for 2015. What appeared from the on-set to be a busy year has since waned as a result of the uncertainty with Nigeria’s general election.

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Feb 2015 PUBLICATIONS

In two consolidated appeals argued by a team from Aluko & Oyebode led by Chukwuka Ikwuazom, a tax partner in the firm, the Tax Appeal Tribunal (the “Tribunal”) on 12 February 2015 set aside assessments of additional Petroleum Profits Tax (PPT) and Education Tax (EDT) in the cumulative sum of US$166.1 Million which had been issued by the Federal Inland Revenue Service (“FIRS) on an international oil company (the “Appellant”)  on the alleged basis that the Appellant wrongly calculated the balancing charge due on the disposal of its undivided participating interests in certain oil mining leases (“OMLs”).

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Feb 2015 PUBLICATIONS

It is no doubt that the rebasing of a country’s Gross Domestic Product (GDP) firms up its position, as it helps improve the country’s economic profile amongst foreign portfolio investors and foreign direct investors.

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Jan 2013 PUBLICATIONS

Under the common law as applicable in Nigeria, parties to a contract are free to determine the law that will govern their contractual obligations. Such choice must be bona fide and legal and there must not be any reason to avoid the choice on the ground of public policy. Even where the seller and the debtor are resident within Nigeria and the transaction that gives rise to the receivables and the payment of the receivables takes place in Nigeria, the foregoing principle will apply. However, the mandatory provisions of Nigerian law would continue to apply to the contract.

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Oct 2012 PUBLICATIONS

The Petroleum Industry Bill (the “PIB” or the “Bill”) is perhaps the most talked about piece of legislation in Nigeria ever, given the far reaching reforms which it proposes to an industry which is the single most significant contributor to the national economy. Originally introduced in December 2008, the Bill has undergone numerous revisions and has been the subject of intense debate from stakeholders.

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Oct 2012 PUBLICATIONS

The Petroleum Industry Bill (the “PIB” or the “Bill”) is perhaps the most talked about piece of legislation in Nigeria ever, given the far reaching reforms which it proposes to an industry which is the single most significant contributor to the national economy. Originally introduced in December 2008, the Bill has undergone numerous revisions and has been the subject of intense debate from stakeholders.

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Feb 2012 PUBLICATIONS

A Trademark is a major platform or format by which product owners project into streams of commerce, goods and services.

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Jan 2012 PUBLICATIONS

Aluko & Oyebode achieves 18 listings across the following nine section of its practice in the recent release of the Who’s Who Legal Awards.

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May 2010 PUBLICATIONS

Reproduced with permission from Law Business Research. This article was first published in Getting the Deal Through – Public Procurement 2010 (published in April 2010; Contributing Editor Hans-Joachim Prieß, Freshfields Bruckhaus Deringer). For further information please visit www.GettingTheDealThrough.com

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Dec 2008 PUBLICATIONS

This article appeared in the 1st edition of The International Comparative Legal Guide to: Public Procurement; published by Global Legal Group Ltd, London (www.iclg.co.uk) authored by Gbenga Oyebode and Olubunmi Fayokun

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May 2008 PUBLICATIONS

Reproduced with permission from Law Business Research. This article was first published in Getting the Deal Through – Public Procurement 2008, (published in May 2008 – contributing editor: Hans-Joachim Prieâ). For further information please visit www.gettingthedealthrough.com

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Oct 2007 PUBLICATIONS

PROPOSED UNIFORM STATE ARBITRATION AND CONCILIATION BILL. ARRANGEMENT OF SECTIONS. PART 1

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Oct 2007 PUBLICATIONS

Amended report from the National Committee on the Reform and Harmonisation of Arbitration and ADR Laws in Nigeria

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Oct 2007 PUBLICATIONS

Acknowledgements from the members of the National Committee on the Reform of Nigeria’s Arbitration and ADR Laws

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Mar 2007 PUBLICATIONS

This article appeared in the 2007 edition of The International Comparative Legal Guide to: Gas Regulation; published and reproduced with kind permission by Global Legal Group Ltd, London and authored by Gbenga Oyebode and Kofo Dosekun

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Jan 2007 PUBLICATIONS

“This article first appeared in the 2007 edition of The International Comparative Legal Guide to: PFI / PPP Projects; published by Global Legal Group Ltd, London (www.iclg.co.uk) authored by Gbenga Oyebode and Oghogho Makinde”

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Jun 2006 PUBLICATIONS

This article appeared in the 2006 edition of The International Comparative Legal Guide to: Intnl Arbitration 2006 ; published and reproduced with kind permission by Global Legal Group Ltd, London and was authored by Babatunde J Fagbohunlu and Mark Mordi

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May 2006 PUBLICATIONS

This article appeared in the 2006 edition of The International Comparative Legal Guide to: Gas Regulation; published and reproduced with kind permission by Global Legal Group Ltd, London

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May 2006 PUBLICATIONS

This article appeared in the 2006 edition of The International Comparative Legal Guide to: Environmental Law 2006 ; published and reproduced with kind permission by Global Legal Group Ltd, London and was authored by Oghogho Makinde, Bukola Ayanbule

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Oct 2004 PUBLICATIONS

A co-publication of the World Bank, the International Finance Corporation and Oxford University Press. Aluko & Oyebode was involved in providing information towards the publication.

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