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b. its successor in interest, c. or a trustee, guardian or receiver receiving rent for a premises on behalf, on account of or for the benefit of a person ineligible to enter into contracts. Premises- b. parking, garage or grounds, out houses, appertaining to building, not including d. hotels, lodging dharamshala, inn e. owned or promoted by government, government entities, cantt, religious, charitable institutions, owned by trust, wakf, f.  given on rent to employees as per service contract, g...

Views: Visits 12 According to the Constitution of the Federal Republic of Nigeria (1999) it is mandatory for all Public Officers whether elected, appointed, recruited, contracted etc., by whatever name called to declare their assets by collecting, filling and signing an asset declaration form obtainable from the Code of Conduct Bureau Office nearest to their work station in any of the 36 states of the Federation and F.C.T. or the Code of Conduct Bureau Headquarters at the Federal Secre...

In summary Rights holders have traditionally turned to court litigation to protect IP rights such as patents, copyrights, trademarks and trade secrets – or to enforce IP licensing agreements. This brings certain challenges, such as a public forum, unfamiliar laws and procedures, judges with varying IP law expertise, concern for national interests, and the risk that a judgment cannot be enforced in other jurisdictions. Arbitration offers an alternative mechanism and has a number of advantages,...

To print this article, all you need is to be registered or login on Mondaq.com. The recognition and enforcement of arbitration awards are of paramount importance for the success of arbitration in the international arena. This is well evidenced by the fact that the enforceability of awards worldwide is considered one of arbitrations primary advantages. Unless parties can be sure that at the end of arbitration proceedings, they will be able to enforce the award, if not com...

Nigeria: Govt Loses Bid to Stop Hearing of Abachas Suit to Reclaim OPL 245 22 December 2020 By Ikechukwu Nnochiri The Federal High Court in Abuja, on Tuesday, dismissed preliminary objection the Federal Government lodged to stop hearing of a suit that the son of late military Head of State, Mohammed Abacha, filed to reclaim ownership of Oil Prospecting License, OPL 245, which was originally awarded to Malabu Oil and Gas Limited. The court, in a ruling by Justice Binta Nyako, held that contrary ...

FBR Planning to Remove These Corporate Income Tax Exemptions The Federal Board of Revenue (FBR) is presently reviewing the following list of corporate income tax exemptions with revenue impact for possible withdrawal before the next fiscal year: Tax credit for investment in balancing, modernization, and replacement of plant and machinery (corporate manufacturing sector), Rs. 65.168 billion. Tax credit for enlistment in Stock Exchange (Companies opting for enlistment in a registered stock exchan...

FBR Issues Clarification Regarding the Issue of Certificate Submission The Federal Board of Revenue (FBR) has imposed a condition on Pakistani citizens earning profit on debt to submit a certificate on plain paper that total profit on debt received during the tax year from all investments has not exceeded Rs. 500,000 for paying a lower rate of 10 percent tax. FBR has issued an income tax circular number 7 of 2020 here to clarify the issue of certificate submission by the earners of profit on de...

FG, Shell, Agip lose bid to stop Abacha’s suit to reclaim Malabu’s OPL 245 A Federal High Court in Abuja has rejected moves by the Federal Government, Shell Nigeria Exploration, Nigeria Agip Exploration Company and others to prevent the hearing of a suit seeking to reclaim the Oil Prospecting License (OPL) 245 originally awarded to Malabu Oil and Gas Limited. The suit, marked: FHC/ABJ/CS/201/2017 was filed in the name of Malabu Oil and Gas Ltd by Mohammed Sani Abacha, son of the late Head o...

Share The Federal High Court, Abuja has rejected moves by the Federal Government, Shell Nigeria Exploration, Nigeria Agip Exploration Company and others to prevent the hearing of a suit seeking to reclaim the Oil Prospecting License (OPL) 245 originally awarded to Malabu Oil and Gas Limited. The suit, numbered: FHC/ABJ/CS/201/2017 was filed in the name of Malabu Oil and Gas Ltd by Mohammed Sani Abacha, son of the late Head of State, Sani Abacha, who claimed to be the major shareholder of the oi...