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Anyone who carries on the business of Banking without first acquiring the license for it commits an offence, and is liable upon conviction to an Imprisonment term of not less than5 (Five Years) or a fine of not less than N50,000,000 (Fifty Million Naira) only.
Businesses and individuals may now connect and do business electronically due to the advancement of Information and Communications Technologies (ICT). However, this has raised a range of legal and regulatory issues for policymakers, from concerns about cybercrime and the ability to safeguard intellectual property rights online to the legitimacy of electronic means of contracting and…
This Article has given us a brief run-through on what Negligence is, as well as the extent to which a damage could be too remote and finally, possible defences to an allegation of negligence.
Sharia law is a very unique system under the Nigerian legal system. By virtue of Section 277 of the 1999 constitution, especially section 277 (2)(a),(b),(c) and (d), a claim of inheritance of property subject to Islamic personal law is not within the jurisdiction of the High Court.
Fraudulent investment schemes refer to investment vehicles which in themselves are phony. Their originators usually commence with the intention to defraud investors. They know such schemes would normally fail because there is usually no viable legal commercial venture to put the funds pooled from investors.