UPDATESLaw Firm Blog

Introduction: The Central Bank of Nigeria (CBN) by its letter dated 5th October 2018, written to all banks, telecommunication companies, mobile money operators, banking agents and the Nigerian Communication Commission, circulated draft guidelines and regulations of Payment Service Banks (PSB) for comments and observations. The PSB is CBN’s initiative to promote a sound financial system […]

Over the years, the Nigerian maritime industry has witnessed the uncontrolled and illegal participation of foreign shipowners which has been detrimental to the industry. This position necessitated the enactment of the Coastal and Inland Shipping (Cabotage) Act in 2003. The Cabotage Act was enacted to restrict the participation of foreign vessels in the Nigerian Coastal […]

There is currently a bill before the National Assembly for the amendment of the Arbitration and Conciliation Act (ACA) 1988. The Arbitration and Conciliation Act (Repeal and Re-enactment) Bill (The Bill) has successfully passed through the Senate and awaits the concurrence of the House of Representatives and the assent of the President to become law. […]

Arbitration in Nigeria continues to experience an upward spiral as an effective dispute resolution mechanism adopted by parties engaged in contemporary commerce. Presently, there is a widespread practice of embedding arbitration agreements in the commercial transactions flowing from various areas of the economy, particularly the energy and maritime sectors. Interestingly, there also appears to be […]

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