Blackfriars LLP

Calls have been made to Nigerian Maritime Administration and Safety Agency (NIMASA) to remind it of its statutory duties regarding removal of wrecked ships.

Section 251(1) (g) of the 1999 Constitution of the Federal Republic of Nigeria confers exclusive jurisdiction on the Federal High Court to hear and determine admiralty disputes in Nigeria.

The objective of the Cabotage Act in Nigeria is principally to reserve domestic coastal trade (“cabotage or cabotage trade”) within Nigerian Coastal and Inland Waters to vessels built and registered in Nigeria, wholly owned and wholly manned by Nigerian citizens.

The Industrial Property Commission bill has significantly reduced the duration required for trademark renewal.

Nigeria is endowed with numerous mineral resources such as talc, iron ore, bitumen, gold, rock salt, gypsum, lead/zinc, coal, gemstones, kaolin, tantalite, bentonite and baryte located in different parts of the country in commercial quantity

Stakeholders in Information and Communication sector recently reiterated their commitment to the passage of the anti-cyber crime bill into law.

A patent is usually a form of market monopoly granted to the inventors by a government authority as an incentive to invent or innovate. This grant is usually for the period of 20 years.

Nigeria had in the past years engaged in Joint Venture Agreement (JVA) for the exploration of her petroleum resources.

Part XIII of the Investment and Securities (ISA) 2007 creates collective investment schemes in Nigeria.

Capital Gains Tax accrues on an actual year basis.

The Nigerian Money Laundering (Prohibition) Act 2002 (MLPA) was enacted at a period when money laundering was synonymous with drug trafficking.

In the aftermath of the meltdown of Nigeria’s capital market, the absence of strong regulatory framework has been recognized as one of the contributory factors in the unusual downturn in the capital market.

The effects of oil spills on human and aquatic life remains so grievous and almost irreparable if not properly handled. Effective clean-ups and reclamations of affected areas usually take long time and requires much effort and consistency.

The recent direction by the Ministry of Information and Communications to the effect that all mobile telecoms operators selling new Subscriber Identification Module (SIM) cards must obtain the data of prospective subscribers and that all previously obtained SIM cards must be registered without delay is no doubt a good policy aimed at reducing the incidents of technology related crimes.

The deplorable state of infrastructure at both the international and domestic airports in Nigeria has given rise to a call by all and sundry for an immediate radical revamp of the aviation industry.

The emergence of the Federal Inland Revenue Service (FIRS) Establishment Act may bring smile to the faces of corporate tax payers if the provision that introduces tax refund will be given the necessary push and attention.

Under Section (5) of the Trademarks Act of Nigeria, the right of a proprietor of a registered trademark is deemed to be infringed by any person who, not being the proprietor of the trademark or a registered user thereof, using it by way of permitted use....

The Nigerian Money Laundering (Prohibition) Act 2002 (MLPA) was enacted at a period when money laundering was synonymous with drug trafficking. Consequently, the law sought basically to prohibit gains obtained from narcotic drugs and other psychotropic substances.

The proposal to establish Market-makers in Nigeria has not taken off two years after SEC approval. July 2010 Vol. 23: Issue 7

The full extent of the powers of the CBN Governor and the CBN itself to regulate banks registered in Nigeria is contained in two pieces of legislation: the Central Bank of Nigeria Act, and BOFIA, respectively. However, whether these pieces of legislation authorize the CBN Governor to takeover and sell off the banks is a matter of serious legal doubt.

Nigerian Government may debt finance and/or equity finance its 2009 joint venture cash call obligations.

Commercial arbitration has become a major attraction in international transactions owing to its speed and effectiveness in resolving commercial disputes. Having obtained the award however, the successful party would have to enforce the award against his adversary.

Nigerian Stock Exchange (NSE) and the Securities and Exchange Commission (SEC) Release Criteria for Licensing Market Makers in Nigeria

For decades, many companies whose names appear in the Registry of Companies with the Corporate Affairs Commission (CAC) fail to pay annual corporate taxes or file annual returns.

There is a paucity of fibre optic capability in the West African telecommunications industry. In addition to widening the digital divide between Africa and the rest of the world, this situation has resulted in slower Internet connections and expensive telecommunications facilities in the sub-region.

The Technical Committee on the Nigerian National Tax Policy has announced that the draft document of the tax policy is to be submitted to the Federal Executive Council for approval before the end of the year 2008.

Nigeria’s biggest and busiest ports are located in Lagos. Recently, a bill was introduced in the House of Assembly of Lagos proposing the imposition of levies on trucks loading out of any of the ports in Lagos including Apapa and Tin Can Island ports.

The Nigerian Public Procurement Act 2007 and Debarment of Multinational Corporations from Participating in Government Contracts: Unanswered Questions on Debarment and Exclusion Rules

Central Bank of Nigeria and Foreign Ownership of Nigerian Banks

The liberalization of the oil & gas sectors of the Nigerian economy and increased global demand for crude oil have combined to make Nigeria a key player in the global oil market. However, for decades, Nigeria’s oil and gas sectors have been dominated by foreign multinational entities with large expatriate workers deployed in both on-shore and offshore locations in the country.