Conversely, a floating debenture functions as an equitable charge over the entirety or a designated portion of the project or assets, such as cash and the company’s uncalled capital, both now and in the future….
The National Space Research and Development Agency (NASRDA) Act of 2010 represents a significant milestone in Nigeria’s space exploration journey, providing a robust legal framework for advancing space science and technology in the country.
Under the United Nations Convention on Carriage of Goods by Sea (Ratification and Enforcement) Act, 2005, Nigerian courts play a pivotal role in adjudicating disputes arising from the carriage of goods by sea and interpreting the Act’s provisions. Judicial decisions, shaped by principles of fairness, equity, and international law, serve as guiding beacons for the maritime industry, clarifying the rights, obligations, and liabilities of the parties involved.
The Nigerian Maritime Sector, no doubt, contributes significantly to the nation’s economy. Recognising the significance of the sector, the Federal government in 2023 established the Ministry of Marine and Blue Economy. The importance of the sector also underscores the need for a detailed examination of admiralty jurisdiction and in which court it is vested as well as some intricacies surrounding same in the nation’s legal framework.
The development of legal technology, like its counterparts in diverse fields, took a progressive approach and lawyers in the earlier centuries were seen making use of ‘technological’ tools such as typewriters, phonographs and dictation machines, fax machines for the sending of documents, UBIQ terminal used for searching cases online, etc. However, recent years have seen the evolution of emerging technologies such as blockchain technology, artificial intelligence, cloud computing etc., as well as technological tools which have continued to impact the nation’s legal landscape.
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Nigeria, as a member state of the United Nations, pursuant to its international obligations empowered the Sanctions Committee to maintain a list to be known as the Nigerian Sanctions List. The Nigerian Sanctions List is a periodic publication of the Nigerian Sanctions Committee containing the details of all persons, groups or entities designated as terrorists, groups, organisations or financiers.
Debentures, serve as contractual obligations between creditors and the company, and often include a charge on the company’s assets, akin to a mortgage transaction.
Project finance is limited recourse, thus when it goes bad, banks stand to lose their principal and interest. It is a project with the lowest possible risk. If the project scales, they will receive their money as well as any accrued interest, resulting in a relatively small gain.
Project finance is limited recourse, thus when it goes bad, banks stand to lose their principal and interest. It is a project with the lowest possible risk. If the project scales, they will receive their money as well as any accrued interest, resulting in a relatively small gain.
PPP participation in Nigeria should be promoted and increased because the benefits much outweigh the drawbacks.
However, it is critical that both the government and the private sector embrace transparency and accountability