Reforming dispute resolution in Nigeria

Nigeria, one of Africa’s major economies, is of great interest to foreign investors from both inside and outside of Africa. Those investors are turning away from the country’s courts and leading a drive towards arbitration – a still-developing discipline in Nigeria.

Enforcement of Arbitration Awards in Nigeria vis-à-vis the Limitation Period under the Limitation Laws

The Need for Urgent Legislative Intervention.[1] Summary of Article: Arbitration is probably the oldest method of dispute resolution still in common use today. Arbitration as a process begins with an agreement, made either when a contract is made, or after a dispute has arisen, that certain matters which are or may be in contention between … [Read more…]

Deductibility of Interest Expense On Inter-Company Loans

– THE RELEVANCE OF TRANSFER PRICING REGULATIONS[1] Interest expense represents the cost incurred by a corporate entity on funds borrowed in carrying out its operations. It is the interest payable on borrowings which includes loans, bonds, letters of credit, etc. In Nigeria, inter-company loans, that is, loans from a parent to a subsidiary and vice-versa … [Read more…]

Privatization of Electricity Industry in Nigeria: Lessons from Europe and United States of America

Electricity plays a pivotal role in global economic development; hence inadequate access to electricity hinders development in the developing countries; particularly in Nigeria compared to their developed counterparts.The most substantial effort towards tackling the electricity deficit commenced with the enactment of the Electric Power Sector Reform Act, 2005 (EPSR Act) which aims at privatizing the … [Read more…]

Mediation Practice in Nigeria

Due to the increase in lawsuits and heavy workload of the court system, there is more pressure for a modernised, speedy, fair and organised dispute settlement mechanism within the country. Mediation as a form of alternative dispute resolution (ADR) in Nigeria is gradually becoming a viable option in resolving commercial, civil and family disputes within … [Read more…]

Consumers Protection in Advertised Promotion and unsolicited Commercial Calls and Text Messages in Nigeria

Promotional adverts in the Nigerian Telecoms Industry have become prevalent with the advent of the Global Systems for Mobile Telecommunications (GSM). Telecom companies promise subscribers various items and gifts with a view to out-do each other. Most of the time, a subscriber receives an unsolicited commercial call, or a text message at odd hours trying … [Read more…]

Halliburton vs. FIRS: Judgment Review

LAGOS Zone of the Tax Appeal Tribunal (the tribunal) on Friday, September 14, 2012, in what could be considered a watershed in the development of Nigeria’s jurisprudence on taxation, delivered its judgment in the case of Halliburton Energy Services Nigeria Limited (Appellant) vs. Federal Inland Revenue Service (FIRS). The judgment of the tribunal has, undoubtedly, … [Read more…]