ABUAD Private and Business Law Journal

ARBITRATION UNDER THE AFRICA CONTINENTAL FREE TRADE AGREEMENT: STRENGTHENING TRADE DISPUTE RESOLUTION IN AFRICA

Agbo Johnson Madaki — 2019-05-14

The Africa Continental Free Trade Agreement (AfCFTA) represents a groundbreaking effort to promote regional economic integration and trade facilitation within the African continent. The agreement was adopted by African Union member States in March 2018, and after the ratification process was completed by the required number of countries, it entered into force on May 30, 2019. With the operationalization of the AfCFTA, disputes among member States and other parties are inevitable. To ensure effective resolution of these disputes, the AfCFTA – Dispute Settlement Mechanism Protocol offers three broad dispute resolution options. This article explores the arbitration provisions under the AfCFTA, evaluates their potential strengths, challenges, and offers recommendations for strengthening the arbitration framework within the trade agreement. Capacity-building initiatives will empower stakeholders to engage effectively in arbitration proceedings, while promoting diversity and inclusivity in arbitrator appointments will instill confidence in the fairness of the process. Increased transparency and public awareness will foster trust and wider utilization of arbitration, while collaboration with established arbitration institutions will enrich the AfCFTA dispute resolution practices.

EFFECTIVE COMPANY AND CORPORATE LEADERSHIP IN THE NIGERIAN COMMERCIAL BUSINESS TERRAIN IN THE 21ST CENTURY: A MYTH OR REALITY?

Prince Pius Imiera — 2019-05-14

The principal objective in the formation or incorporation of companies is to foster the spirit of entrepreneurship, business enterprise, efficiency, generation of employment with a view to enhancing economic welfare of the people and for the social and economic development of the society. In addition, it is a general principle of law under Nigerian jurisprudence that a company is not birthed until its certificate of incorporation (hereinafter COI) is issued by the Corporate Affairs Commission (hereinafter referred to as CAC). The brain child or the people behind every company before it comes into existence are called the promoters, who in any case, eventually still own or become first directors, subscribers or shareholders of the company. The promoter under CAMA enters what is referred to as pre-incorporation contracts on behalf of the yet-to-be formed company. Under the law, when the company finally comes into existence, the contract done on its behalf may or may not be ratified by the company through its directors. However, under section 18(2) of CAMA, 2020, one person may now form or incorporate a company and become the sole shareholder or director as against section 20(2). With this present position under section 18(2) of CAMA, will corporate governance and leadership be a reality or a myth? The research questions in this article are: when the company eventually comes into existence after the issuance of COI, how will the company be managed or administered under section 18(2)? will the leadership of the company bring the desired goals of establishing a company with a one man show? in corporate governance, are there lessons to learn by corporate and/or company leaders in the present Nigerian business environment?

EXAMINING THE CONFLICT BETWEEN THE FEDERAL AND STATE GOVERNMENTS OF NIGERIA IN THE ADMINISTERATION OF THE VALUE ADDED TAX ACT

Emmanuel Utebor — 2019-05-14

In the Attorney-General of Rivers State against the Federal Inland Revenue Service and the Attorney-General of the Federation, on who can impose, administer, and collect Value-added tax in Rivers State, the Federal High Court of Nigeria, sitting in Port-Harcourt, in its judgment delivered on 20^th August, 2021 held that the Rivers State has the legitimate power to collect Value-added tax within the State. This was accepted with mixed feelings by the populace as some people commended the Court for championing the lingering debate on fiscal Federalism while others condemned the Court for trying to indirectly amend the provisions of the 1999 Constitution. The decision of the Court is an indication of the constant conflict of taxing powers that exists between the Federal Government of Nigeria and the various State Governments. This decision has also led to the questioning of the validity or legitimacy of the Value-Added Tax Act which confers powers on the Federal government to impose Value-added tax and collect same through its agent(s). This article explores the controversy surrounding the conflict of taxing powers between both tiers of government, its origin, instances of judicial intervention, and the final conclusions that can be drawn from it, as well as made recommendations to curb this lingering crisis, with emphasis on the need for a Constitutional amendment.

REGULATION OF OPEN BANKING IN NIGERIA: BALANCING INNOVATION AND PRIVACY

Oghomwen Rita Ohiro — 2019-05-14

Open banking has become a game-changing strategy in the financial sector, aimed at improving innovation, competition, and overall customer experience. This study explores the possibility of introducing technological advancements in banking through open banking systems while ensuring privacy protection. It examines the legal aspects of regulating open banking in Nigeria and emphasizes the importance of achieving a balanced approach that encourages innovation while maintaining rigorous regulatory standards. This paper employs a doctrinal research methodology, combining legal analysis and comparative studies to assess Nigeria's current regulatory landscape and identify any gaps. Drawing on the United Kingdom's regulatory model as a benchmark, the paper evaluates the effectiveness of Nigeria's regulations governing open banking. The findings emphasize the necessity of enhancing the regulatory framework to address the unique challenges posed by open banking in Nigeria. By providing insights and recommendations, this paper seeks to guide policymakers in striking a harmonious balance between innovation and privacy within the Nigerian open banking ecosystem.

THE RIGHT TO ONLINE DATA PROTECTION OF CHILDREN: EXAMINING THE ADEQUACY OF THE LEGAL FRAMEWORKS TO COMBAT CHILD ONLINE DATA BREACHES IN NIGERIA

Thummim Iyoha-Osagie — 2019-05-14

With the rise of digital technology and massive migration to the internet for daily activities, personal data of children is being breached on a large scale by schools, government, online platforms and even parents. It has been estimated that approximately one in three users of the Internet worldwide are under the age of eighteen. In addition to being increasingly active online, children also continue to depend on the Internet for a variety of uses such as play, communication and education. This implies that data belonging to children are frequently being collected through the use of gadgets, applications, and websites, and are sometimes sold or used for criminal activities. Several guidelines regarding children's online data protection have emerged globally such as the United States’ Children's Online Privacy Protection Rule ("COPPA"), United Kingdom’s ICO Children's Code (or Age Appropriate Design Code), and the General Data Protection Regulation (GDPR). However, there was no adequate provision for the protection of children’s data in Nigeria until the enactment of the Nigeria Data Protection Act which is a step in the right direction, but is not without its flaws. This paper seeks to determine the adequacy of the legal frameworks generally in Nigeria to deal with child data breaches. It takes a comparative approach by analysing several legal frameworks in other jurisdictions, and proffers recommendations including amendment of legislations, online safety measures and awareness, privacy and data protection by design approaches for companies and adequate parental control measures.

THE CHALLENGES AND PROSPECTS OF NIGERIA COPYRIGHT ADMINISTRATION IN A DIGITAL ARTIFICIAL INTELLIGENCE AGE

Ikenna U. Ibe — 2019-05-14

Copyright is one of the several existent intellectual property rights which seek to protect original works of authorship fixed in any medium of expression known or later to be developed. While this form of protection exists, the influx of digital revolution also persists to cause a strain in copyright administration and protection due to evolution in means of replication, manipulation, reproduction, dissemination, access to copyrighted materials, etc. This work aimed at examining the approach of the Nigerian copyright system and her administrative structure in the face of digital and internet evolution, by extension Artificial Intelligence (AI) revolution which is an emerging technology. Is the new copyright system staller enough to meet the increasing requirements of protection for copyrighted materials, or capable to simultaneously evolve with digital and internet revolution? This work further seeks to examine the inherent weakness in the present copyright system despite the new enactment. The doctrinal methodology was employed in this work. It was discovered that despite the introduction of Copyright Act of 2022, which incorporates several multilateral agreements, expands copyright protection to online works, made provisions regarding technological protection, a practical overhaul of the entire gamut of the copyright system to reflect the intendment of this Act is strictly recommended. Conclusively, incorporation of technology and adequate manpower in the copyright administration will meet the technological requirements of providing protection against digital and online infringement which AI is now a critical tool.