The world of sport has fast become a billion-dollar entity, morphing from a mere recreational activity to a financial and economic haven. In its own right, sporting activities account for over 3.7% of the aggregate GNP of the twenty-eight EU states. It is also responsible for over 3% of world trade. It employs fifteen million people in the EU, which is about 5.4% of the entire European labor force. In December 2020, NBA superstar Giannis Antetokounmpo agreed to sign a five-year contract extension with the Milwaukee Bucks worth $228.2 million, in what is the largest deal in NBA history today . Barcelona FC conceded in January 2021 that Lionel Messi indeed earned $167 million a year on a 4-year contract he signed in 2017 .
The fundamental reason behind securitization is the need for institutions to derive value from the assets on their balance sheet. These assets could be residential mortgages, corporate loans, debt instruments, among others.
Some of the factors that necessitate securitization include:
“If a person charged with murder or any other offence which the law prescribes the death penalty pleads guilty to it, a plea of not guilty is to be recorded by the Court on his behalf and the case heard as if he had pleaded not guilty. In any other circumstance, his actual plea is to be recorded”.
Technology has proven time and time again that it has come to stay, from the advent of computers, to mobile phones, to digitalization and now to Artificial Intelligence. The industry has gone through various degrees of failures and successes and it has finally picked up to the extent that it has started to affect and transform our way of doing business.
On the 8th of January, 2021, the world awoke to receive the news that former American President, Donald Trump had been banned from Twitter for ‘inciting comments’ in the wake of the attacks at the American Capitol which left five persons dead. Commenting on the rationale for the ban, Twitter CEO Jack Dorsey via a Twitter post observed:
“A youthful population, increasing smartphone penetration, and a focused regulatory drive to increase financial inclusion and cashless payments, are merging to create the perfect recipe for a thriving Fintech Sector in an electronic age where every day financial transactions are conducted on electronic platforms.”
Although the AFCTA is yet to be ratified by all 55 state members of the AU, as the name implies, the major objective of the AFCTA is to create a single continental market for goods and services in Africa; a ‘‘Free to Trade” Area where businesses, persons and investments can enjoy free movement thus paving the way for the harmonization and facilitation of businesses across Africa in general. The AFCFTA is also expected to enhance competitiveness at the industry and enterprise level through exploitation of opportunities in the trade in goods, trade in services, investment and intellectual property rights.
SPORT on the other hand can be said to be an activity involving physical exertion and skill in which an individual or team competes against another or others for entertainment. Sport as a highly organized physical activity of high human intensity regulated by accepted rules and regulations which require maximum physical and mental exertion.
The sources of employment law in Nigeria are:
a. The Constitution of the Federal Republic of Nigeria 1999 (as amended), referred to as “the Constitution”.
b. The Labour Act Chapter L1, Laws of the Federation of Nigeria 2004 (“Labour Act”), which prescribes the minimum terms and conditions for employment for workers as defined above…
The Nigerian Constitution, 1999: The constitution, being the principal instrument of law in Nigeria only provides a blanket provision regarding mining. Section 44(3) provides thus: “Notwithstanding the foregoing provisions of this section, the entire property in and control of all minerals, mineral oils and natural gas in under or upon the territorial waters and the Exclusive Economic Zone of Nigeria shall vest in the Government of the Federation and shall be managed in such manner as may be prescribed by the National Assembly.”