#stephenlegal Archives

NBA-AGC 2022: A LEGACY CONFERENCE FOR THE OLUMIDE AKPATA-LED ADMINISTRATION

NBA-AGC 2022 AND THE “VANDALS OF TIMID TRANSITION”: WHAT’S IN A BAG AND WATER BOTTLE?

Lawyers are trained to imbibe special personality traits which make them natural leaders who positively influence others. Lawyers are expected to be decorous and respectful always, and to exhibit excellent character at all times especially in public places. But some lawyers who forced themselves into the registration booth at the Nigerian Bar Association Annual General […]

stephenazubuike
August 28, 2022
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Case Law

UBN HELD LIABLE FOR FAILURE TO REMIT FOREIGN EXCHANGE: LESSONS

The Story In 1982, Omni Products (Nig.) Ltd. (“Omni Products”) and Amechi Christopher E’Chukwu (“The Appellants”) applied to and obtained from the Federal Ministry of Finance approvals for the remittance of foreign exchange to their foreign principals, Bekaert International Trade, Belgium. Union Bank of Nigeria Plc (“UBN” or “The Respondent”) was aware of the approvals. […]

stephenazubuike
September 11, 2021
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50 Views

Case Law

HOW FCMB SOLD A JOINT VENTURE TO AMCON IN THE NAME OF NON-PERFORMING LOAN: THE COURT DECIDES

FCMB Ltd v. Ogbuefi [2021] 10 NWLR (Pt. 1783) 1 In 2007, one Hon. Chief Ogbuefi and First City Monument Bank Ltd (FCMB) agreed to do business and make some money. The nature of the relationship as evidenced by the documents executed and exchanged was that Chief Ogbuefi made an equity contribution of N40 Million […]

stephenazubuike
August 26, 2021
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54 Views

An application to set aside an arbitral award is not in the nature of an appeal against the award.

Case Law

IS THERE A TIME LIMIT FOR RECOGNITION AND ENFORCEMENT OF FOREIGN ARBITRAL AWARD?

Generally, an arbitral award does not rank in exactly the same pedestal as a judgment of court. The final decision of a court of law is known as a judgment. While the final decision of an arbitral tribunal is called an award. The law provides that an arbitral award is binding on the parties and […]

stephenazubuike
July 7, 2021
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HOW TO SAVE YOUR ACCOUNT FROM BANK’S EXCESS CHARGES: BUSINESS AND LEGAL TACTICS

Case Law

HOW FGN’S SHREWD MOVE TO AVOID A COMPROMISED N9.7B JUDGMENT DEBT WAS BLOCKED BY THE SUPREME COURT

Many a time, the Federal Government of Nigeria (FGN), through some of its agencies, enter into several kinds of contracts. However, through what sometimes appear to be floppy policies, politics, negligence, corrupt practices or mere mischief, the FGN gets involved in unnecessary and avoidable contract breaches. Consequently, the Government is held liable in damages. The […]

stephenazubuike
June 27, 2021
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LIKE GRATIANO, BUHARI’S SPEECH IN THE FACE OF CRISIS WAS FULL OF BUSHELS OF CHAFF

Opinions Trending

REAL REASONS BUHARI BANNED TWITTER

The Buhari-led Federal Government of Nigeria has announced the banning of Twitter in Nigeria. This is coming in the guise of the Government’s reaction to the deletion of the unfortunate tweet by the President regarding Nigeria’s civil war. We have clearly articulated everything wrong with the controversial tweet of the President. Nevertheless, a careful consideration […]

stephenazubuike
June 4, 2021
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26 Views

Case Law

SUPREME COURT LASHES A LAWYER WHO SOUGHT TO ‘RECOVER’ HIS CLIENT’S N150M ALREADY PAID TO THE CLIENT TO HIS KNOWLEDGE

Passco Int’l Ltd v. Unity Bank Plc [2021] 7 NWLR (Pt. 1775) 224 (SC) Passco Int’l Ltd (The Appellant) informed its bank, Unity Bank Plc (The Respondent), that it had concluded plans for the sale of its property in Lagos State and of its intention to transfer the proceeds of the sale to the United […]

stephenazubuike
May 27, 2021
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JURISDICTION OF THE FEDERAL HIGH COURT AND STATE HIGH COURTS: SUPREME COURT RECOMMENDS CONSTITUTIONAL AMENDMENT

Case Law

DETERMINING LIMITATION PERIOD: SUPREME COURT SAYS COURTS MUST LOOK BEYOND THE WRIT OF SUMMONS AND STATEMENT OF CLAIM

Statoil (Nig.) Ltd v. Inducon (Nig.) Ltd & Anor [2021] 7 NWLR (Pt. 1774) 1 at 58-59, per M. D. Muhammad, JSC My lords, in the instant case, since it is the Appellant who pleaded that Respondents’ action is statute-barred, it is its burden to prove by credible evidence when the Respondents’ cause of action […]

stephenazubuike
May 26, 2021
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69 Views

ON LIMIT TO POWERS OF THE SUPREME COURT UNDER SECTION 22 OF THE SUPREME COURT ACT

Case Law

SUPREME COURT TAKES THE ISSUE OF FEDERAL HIGH COURT JURISDICTION TO ANOTHER WORRISOME DIMENSION

The “acrimony” between the Federal High Court and the State High Courts as it pertains to the jurisdiction of both courts appears to have the eternal status of the war between Israel and Palestine. In the recent case of Statoil (Nig.) Ltd v. Inducon (Nig.) Ltd & Anor [2021] 7 NWLR (Pt. 1774) 1, the […]

stephenazubuike
May 25, 2021
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55 Views

Case Law

JURISDICTION OF THE FEDERAL HIGH COURT: ACCESS BANK MAKES “ABSURD” ARGUMENT AT THE COURT OF APPEAL

Access Bank Plc v. Okpu [2021] 6 NWLR (Pt. 1773) 563 at 588 per Ogakwu, JCA It is, most respectfully, ludicrous, preposterous and specious for the Appellant (Access Bank Plc) to contend that the loan facility it granted its customer in the course of carrying on banking business is a simple contract which does not […]

stephenazubuike
May 24, 2021
0 Comments
35 Views

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