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Nigeria's recent repeal of the 1988 Arbitration and Conciliation Act and introduction of the 2023 Arbitration and Mediation Act have brought significant changes to the country's legislative framework, enhancing its position as an arbitration hub in Africa. This article explores the criticisms of the previous act and highlights notable changes introduced by the new act, including the option of an Award Review Tribunal, recognition of third party funding, and provisions for consolidation of proceedings.
The ongoing investigation into the alleged financial fraud during Godwin Emefiele's time as Governor of the Central Bank of Nigeria has uncovered shocking revelations. With an estimated N7 trillion involved, the probe is set to expose the mismanagement and compromised regulations within the financial system. Despite facing pressure from influential figures, the investigative team is determined to unveil the truth and hold the perpetrators accountable.
The Central Bank of Nigeria (CBN) has issued prudential guidance to banks in response to the currency devaluation. The guidance includes setting aside revaluation gains as a counter-cyclical buffer and granting forbearance to banks breaching limits. This move aims to safeguard banks from future currency fluctuations.
The camp of PDP's flagbearer, Atiku Abubakar, has criticized calls for his suspension, terming it as baseless and unreasonable. This demand, made by FCT Minister Nyesom Wike, is seen as an attempt to establish his dominance within the party. Atiku's campaign organization insists that Wike should be called to order.
Joy Omoyeni, the best-graduating student in Ondo state, has been awarded a N2.5 million scholarship by VDT Communications. The scholarship was presented to Omoyeni for her undergraduate studies and she plans to study Computer Engineering at Covenant University. The company also offered her an internship training opportunity in the future. Musa Isa Salmanu, father of brilliant student Isa Salmanu, who scored A1 in all subjects in the 2023 WASSCE, shares his views on motivating his son to excel academically.
The Delta State government has called on traders at the popular Ogbeogonogo Market in Asaba to cooperate and temporarily vacate the market premises to allow for the smooth progress of a construction project. The project aims to address flooding issues in the capital city, but the presence of traders has been slowing down the construction. While the traders appreciate the government's efforts, they raise concerns about the contractor's capacity to complete the project on time. The government emphasizes the importance of the traders' cooperation for the timely completion of the project.
Special Assistant to Atiku Abubakar on Public Communications, Phrank Shaibu, has expressed frustration over the failure of the Court of Appeal to provide Certified True Copies (CTC) of its judgment on the petition challenging the outcome of the presidential election. Atiku and his legal team now have just 14 days to appeal the decision to the Supreme Court, but the delay in receiving the CTC has hindered the progress of their appeal. This article discusses the implications of the delay and raises questions about the court's adherence to time schedules.
The low inclusion of women in governance in Nigeria, particularly in Benue State, has drawn attention to the need for better representation and gender equality. Women are key actors in early warning and response to violent conflicts, and increasing their participation in leadership positions can help address societal issues such as gender-based violence.
A lack of financing is hindering Africa's transition to a green and fair future. Despite being rich in natural resources and having great potential for renewable energy, the continent receives only 2% of global clean energy spending. The International Energy Agency (IEA) and the African Development Bank Group have called for a doubling of energy investment in Africa by 2030, with two-thirds of that going into the clean energy sector. It is essential to increase funding and create an investment environment that encourages private investors to participate in clean energy projects.
The Nigerian presidential election tribunal has dismissed challenges to Bola Tinubu's win in February's vote. The opposition candidates, Atiku Abubakar and Peter Obi, had alleged irregularities and called for cancellation of the election. However, the tribunal rejected their petitions, stating the lack of credible evidence. This ruling, in line with past trends, highlights Nigeria's history of electoral fraud and the difficulty of successfully challenging election outcomes in the country.
The Nigerian court has upheld President Bola Tinubu's victory in the highly contested elections, dismissing the allegations of irregularities raised by his main rivals. Despite concerns over incomplete electronic transmission of votes and qualifications, Tinubu's win has been confirmed, prompting calls for collective efforts to build the nation.
Nigeria's quest to upturn the European Union (EU) ban on selected agro commodities from export faces a major hurdle as the food items still contain excessive pesticides. The Federal Ministry of Agriculture and Rural Development (FMARD) is working with regulatory agencies to address this issue and ensure Nigeria's food exports meet global safety standards. Additionally, efforts are underway to tackle mycotoxin contamination and implement genetically modified crops resistant to insects.
The Federal Road Safety Corps (FRSC) has called on drivers to adhere to the stipulated speed limits on all roads in order to prevent road accidents. This warning comes in the wake of a fatal crash that occurred on the Obajana-Lokoja expressway in Kogi State. The accident, caused by speed violation, resulted in 12 fatalities and 6 injuries. In this article, we explore the importance of respecting speed limits and the role of drivers in ensuring road safety.
Nigeria's foremost human rights lawyer, Femi Falana, has called on the Economic Community of West African States (ECOWAS) to approve two-term tenure for member states in an effort to prevent coup plots in the sub-region. Falana also urged ECOWAS to take advantage of the current political crisis to launch the ECO currency, which has been delayed due to the influence of colonial powers. The call was made during the West Africa Civil Society Week conference in Lagos.
President Bola Tinubu has been accused of plotting to destroy opposition political parties in Nigeria by engaging in a government of national unity without consulting them. A chieftain of the Peoples Democratic Party (PDP) claims that Tinubu's actions are aimed at turning Nigeria into a one-party state. The article explores the allegations and their potential impact on Nigeria's democracy.
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