Breaking! Arbitration tribunal awards $1.69bn to Nigerian govt over Brass, Forcados crude oil assets
An Arbitral Tribunal sitting at the Lagos Court of Arbitration has delivered a landmark Arbitral award in favour of the Nigerian government owned Nigerian Petroleum Development Company (NPDC) Limited in the arbitration between the Atlantic Energy Drilling Concepts Nig Ltd and Atlantic Energy Brass Development Ltd and the Nigerian Petroleum Devlopment Company limited.
A Federal High Court Lagos Wednesday adjourned until April 30, the $69 million suit filed by the federal government against Chevron Petroleum Nigeria Ltd, seeking to recover oil revenue.The federal government filed the suit against Chevron Nigeria Ltd and Chevron Petroleum Nigeria Ltd, as first and second defendants respectively.
The FIABCHI NIGERIA PRIX D’ EXCELLENCE DINNER AND AWARDS is an annual event held in Lagos Nigeria, every first quarter of the year. Now in their fourth year, the Awards and Dinner is an affirmation of FIABCI’s idea of providing our society with optimal solutions to its property needs. This year theme titled “Ease of doing real estate business – The Nigerian experience” was focused on looking at easy ways of doing business across all partnering nations.
Fine and Country West Africa’s annual Refined Investor Series, with the theme: Collaborating for New Heights and National growth held on the 4th of December, 2018 at the Civic Centre, Victoria Island, Lagos.
The Refined Investor Series- reputed for engendering high-level conversations also well attended by high profile industry & business leaders/investors- this year was no less as Fine & Country collaborated with PwC as knowledge partner to execute what has been described as one of the most anticipated & insightful Real Estate events in Nigeria. Read More
Stakeholders in the nation’s judicial circle have advocated a paradigm shift in redefining legal practice to meet the demands and challenges of the society. Speaking at a Colloquium to mark the 25th anniversary of Kenna Partners, a Lagos-based multi-service law firm, they noted the slide in the legal practice and called for a swift shift to allow for innovations that would guarantee the development of the nation’s business and political space.
The Nigerian National Petroleum Corporation has been the sole importer of petrol into the country for more than a year as private oil marketers stopped importation due to shortage of foreign exchange and increase in crude oil prices, which made the landing cost of the product higher than the official pump price of N145 per litre.
The Skyline Terrace Hall at the majestic Lagos Oriental Hotel in Lekki, Lagos was a fitting venue for the Colloquium held to mark the 25th anniversary of the founding of Kenna Partners, a Lagos-based multi-service law firm (with offices in Abuja and Enugu) which is widely known for redefining legal practice to meet the demands and challenges of complex business situations, including dispute resolution and advisory services.
Professor Fabian Ajogwu is a Senior Advocate of Nigeria (SAN) and the founding Partner of the law firm of Kenna Partners. He has over two decades experience in law practice specializing in the field of Foreign Direct Investments and Corporate Restructuring in the Financial Services sector, and Natural Resources sector; including Litigation and Arbitration in related fields. Ajogwu chaired one of the sessions at the recent 2018 Oil Trading and Logistics (OTL) Africa Downstream Week and presented this detailed paper on “Downstream Regulatory Compliance: Legal Issues and Role Of In-House Counsel”.
The Law Digest Awards is the premier award for African legal practitioners in recognising and honouring excellence in the African legal services market, by recognising the contributions of individual lawyers, law firms and in-house teams, large and small equally. The awards are based on the opinions of peers and the in-depth research conducted by the Law Digest team.
Associate Partner to the firm, Mr. Charles Nwabulu made the call at a briefing to announce activities to mark Kenna Partners’ 25th anniversary. He stressed that the firm was able to weather the harsh business climate due to adherence to ethics and hard work. Nwabulu said in commemoration of the celebration, the law firm has lined up number of events including a colloquium with the theme; “Footprints in Law & Society: Towards a paradigm shift”.
Justice Amina Augie of the Supreme Court will deliver the 25th anniversary lecture of a law firm, Kenna Partners. It will be chaired by the first female Senior Advocate of Nigeria (SAN) Chief ‘Folake Solanke. In commemoration of the firm’s silver jubilee, a colloquium with the theme: Footprints in Law and Society: Towards a paradigm shift, will be held.
Guinness Nigeria has appointed Professor Fabian Ajogwu and Mr. Paul Gallagher to its board as non-executive directors. A statement by the company said that Ajogwu, a Senior Advocate of Nigeria (SAN), is the Principle Partner at Kenna Partners, he is also a Professor of Corporate Governance at Lagos Business School.
Stanbic IBTC’s has restated its commitment to value creation via social, economic and environmental initiatives that support and contribute to the prosperity and well-being of the Nigerian society.
This is coming as the bank and well-meaning Nigerians alongside a contingent of staffers, thronged the streets of Lagos, Abuja and Port Harcourt last Saturday to raise awareness on the need to support limbless and indigent children at its annual charity walk.
Stakeholders in the legal profession have converged in Lagos under the aegis of Nigerian Institute of Chartered Arbitrators , where they discussed issues affecting the administration of justice and how arbitral awards impact negatively on issues of arbitration.
The Federal High Court in Lagos has fixed December 4, 2018 for hearing in the suit filed by MTN Nigeria Communications Limited to challenge the $8,134,312,397.63 being demanded from the telecom firm by the Central Bank of Nigeria over alleged foreign exchange remittance infractions.
The Society for Corporate Governance Nigeria (SCGN) has expressed worries over the low rating system of corporate governance in the country. Director of SCGN, Prof Fabian Ajogwu, who spoke at the closing bell ringing ceremony at the Nigerian Stock Exchange, in Lagos, noted that although many companies have demonstrated a high degree of corporate governance standards, a lot still needs to be done.
Real estate investment firm, Novare Real Estate Africa, has so far invested over $500m in the development of malls in Nigeria. The firm made this known during the announcement of plans to unveil its fourth shopping mall, the Novare Central, Abuja, expected to be opened on July 19, with an exclusive ceremony a day before.
The federal government is evolving a new policy that will restrict insurance operators to their areas of competence and ability.
According to the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, (NAICOM), Mr. Muhammad Kari, the new policy would introduce a “risk-based system” where companies would be restricted to their areas of competence and abilities instead of the “rule-based system” in operation, where companies operate regardless of the level of their capital.
Nero Asibelua Foundation, a Non-Governmental Organisation, has donated books to 100 universities in Nigeria that have an arts department.
The book entitled Collecting Art: A handbook, by Fabian Ajogwu (SAN), Principle Partner at Kenna Partners and renowned art collector, and Jess Castellote. Aiming to empower young student artists on how to practice the industry efficiently after graduation. Chief Executive Officer of the foundation.
Justice Saliu Saidu of the Federal High Court in Lagos has dismissed the suit filed by the Industrial Training Fund (ITF) against Pan Atlantic University (Lagos Business School) over remittances to Fund. The suit, which was filed by the ITF Governing Council against Pan Atlantic University, claimed that the university was in default of Section 6(1) of the ITF Act and thus owed ITF a liquidated debt of N650, 000,000 as the total outstanding statutory contributions.
Landmark Court of Appeal judgement strips regulatory agencies of power to impose fines on oil companies
The Court of Appeal, Calabar has delivered a landmark Judgment on the powers of regulatory agencies to impose fines without recourse to the courts. In its Judgment in favour of ExxonMobil (Mobil) in an appeal filed by the National Oil Spill Detection & Response Agency (NOSDRA), the Court of Appeal struck down Section 6(3) of the NOSDRA Act empowering it to impose fines, in clear violation of the Constitution of the Federal Republic of Nigeria 1999.
A Federal High Court in Lagos on Wednesday adjourned until May 28 hearing of a 55 million dollars debt recovery suit by the Federal Government against Agip Oil Company Ltd. Oil The government had filed several suits seeking to recover about 12 billion dollars in missing crude oil revenue from some international oil companies.
First female advocate of Nigeria Chief Folake Solanke and former Nigerian Bar Association (NBA) President Chief Wole Olanipekun (SAN) have urged senior lawyers to remunerate young lawyers undergoing pupillage in their offices well. Principal Partner, Professor Fabian Ajogwu (SAN) said it was important for lawyers to understand what truly drives success in law, saying “I am not in the school of begging seniors to pay their juniors adequately.
Commercial Law Development Services (CLDS) has signed an e-book Publishing Partner Agreement with Thomson Reuters. Under the first phase of the agreement, four of the CLDS’ several law publications, including titles authored by the Principal Partner Professor Fabian Ajogwu, would be licensed for publication and distribution through Thomson Reuters’ professional e-reader Pro View to the global community.
Chevron loses first round in FG ‘missing crude’ recovery case MARCH 1, 2018 Justice Olatoregun of the Federal High Court, Lagos has struck out a preliminary objection by Chevron Petroleum Nigeria Ltd against the Federal Government of Nigeria in the action to recover almost US$ 12 billion in missing crude oil revenue from international oil companies.
Justice Rilwan Aikawa Aikawa of a Federal High Court, Lagos has struck out the preliminary objection filed by China National Offshore Oil Corp (CNOOC) Exploration and Production Nigeria Limited against the Federal Government in a $12b missing crude oil suit.
President Muhammadu Buhari who commissioned the Novare Gateway Mall in Abuja, tasked the management of the newly opened facility to embrace the local content policy so as to promote made-in-Nigeria goods, stem capital flight and conserve the most needed foreign exchange.
PRESIDENT Muhammadu Buhari, on Thursday, tasked the management of Shoprite to embrace the local content policy of his administration, with a view to promoting made-in-Nigeria goods, stem capital flight and conserve the most needed foreign exchange.
Nigeria’s mall segment of the real estate sector has continued to thrive, notwithstanding the supposed downturn in the industry. This position is further buttressed with the investment of $68 million in the development of Novare Gateway Mall in Abuja.
The ceremonial launch of the book, Collecting Art- A Handbook at the Wheatbaker Hotel, Ikoyi provided the platform for art collectors and enthusiasts to stress the need for preserving culture through artefacts and art. Chaired by Dr. Okey Anueyiagu, the ceremony was organised in honour of the co-authors for the book, Professor Fabian Ajogwu SAN and famed collector, Jess Castellote, also regarded as Spanish-Nigerian.
A Federal High Court in Lagos will on Jan. 23, 2018, resume hearing of a $406.8 million suit instituted by the Federal Government against Shell Western Supply & Trading Ltd, over crude oil shipment. The suit numbered FHC/L/CS/336/16 was filed by Prof. Fabian Ajogwu (SAN), counsel to the Federal Government.
Poised to help artists raise their game and collectors to be discerning in art collection, two art enthusiasts and authors, Professor Fabian Ajogwu and Spanish-Nigerian, Jess Castellote, will present an art book on Friday titled, Collecting Art: A Handbook, to the public in Lagos.
A South African corporate governance expert and former Supreme Court judge, Mervyn King, will give the keynote address at the 10th edition of the annual conference of the Society of Corporate Governance of Nigeria, holding in Lagos September 27.
The 10th annual conference of the Society for Corporate Governance Nigeria will hold on Wednesday, September 27. The theme is ‘Institutionalisation of Corporate Governance as a tool for National Economic Development.’
The Society for Corporate Governance Nigeria (SCGN) has called for behavioural and institutionalised mechanism for Corporate Governance in Nigeria.
The Society for Corporate Governance Nigeria has recommended adherence to corporate governance as one of the means to curb corruption in the country.
Stanbic IBTC Holdings Plc has announced its audited financial statements for the year ended 31 December 2016. The result showed the group’s profit after tax increased by 51 per cent from N18.90 billion earned in 2015 to N28.52 billion in 2016.
Former Nigeria High Commissioner to the United Kingdom and founding president of the society, Christopher Kolade, gave the charge at the opening of its office in Lagos. He noted that the charge became necessary, as the country was not performing at its optimum capacity in all sectors, and especially in corporate governance issues.
Prof. Fabian Ajogwu (SAN) has called on lawyers to stand up for the rights of the less privileged. He spoke on ‘The Role of Religious Bodies in the Dispensation of Social Justice’ at the annual dinner of the Lagos Diocese of the National Association of Catholic Layers (NACL) last Friday. The event was chaired by Professor Pat Utomi and anchored by TV personality Soni Irabor and Chima Ezife.
The board of directors of Stanbic IBTC Holdings Plc has approved the appointment of Professor Fabian Ajogwu, SAN as an independent non-executive director of the company with effect from July 03, 2017, following the receipt of all required regulatory approvals.
The twin issue of decline in mentorship and reading culture took a centre stage at the public presentation of a book: “Ship Acquisition & Finance: Law & Practice”, authored by a Lagos based Senior Advocate of Nigeria (SAN), Professor Fabian Ajogwu to help investors and businesses navigate the complexities of international shipping finance in the context of the Nigerian economy.
The first female Senior Advocate of Nigeria in the country, Chief Olufolake Solanke, has expressed optimism that though Nigeria is sick, it will be healed with the unbiased application of the country’s laws, which she noted the country has in abundance.
Principal Partner, LEAP Africa & Others Support Nigerian Businesses on Balancing Growth & Profitability at 12th Annual CEOs Forum
The vision of every entrepreneur is to be very successful and a key leader in the industry. Growth, when successfully managed, will deliver sustainable result not only for the entrepreneur but also for the economy and society. This was underscored by Ralph Ozoude, Managing Director, United Parcel Service (UPS) in his opening remark at the 12th CEOs Forum sponsored by UPS, Sterling Bank, Interswitch on Thursday, June 1st, 2017.
This year’s LEAP Africa 12th CEO’s forum took place on the 1st of June at the Landmark Event Centre, VI, Lagos. The theme was ‘Managing Growth for Profitability’ and was aimed at developing dynamic and innovative African leaders.
World intellectual property day was established by the World Intellectual Property Organization (WIPO) in 2000 to “raise awareness of how patents, copyright, trademarks and designs impact on daily life” and “to celebrate creativity, and the contribution made by creators and innovators to the development of societies across the globe”.
The Edo State Government has challenged the jurisdiction of a Lagos State High Court to adjudicate on a suit instituted by an estate surveyor, Mr. Albert Elaiho, over the planned sale of Edo House located in Lagos.
Edo State Governor Adams Oshiomhole had announced plans to sell the disputed house which in on 1225, Ahmadu Bello Way and 1225 Bishop Oluwole Street, Victoria Island, Lagos and use the proceeds to develop Edo.