Author: Lawbreed Limited

Cadbury Nigeria has offered to swap its $7.7 million (N7.03 billion) debt owed to Cadbury Schweppes Overseas Limited for more equity. Cadbury Schweppes Overseas Limited, controlled by Mondelēz International Inc, is a major investor in Cadbury Nigeria with 74.97 percent stake. The conversion of the $7.7 million debt to equity, according to the company, will result in the creation of 402,082,657 shares. These will be handed to Cadbury Schweppes at N17.50 per share. In a statement on Tuesday sent to the Nigerian Exchange Limited, NGX, Cadbury Nigeria said it borrowed $23 million from Cadbury Schweppes to settle outstanding third-party loans…

Operatives of the Economic and Financial Crimes Commission (EFCC) raided the headquarters of the Dangote Group on Thursday in connection with an ongoing investigation into forex allocations in the country. Sources told PREMIUM TIMES that on arrival at the headquarters of one of Africa’s largest conglomerates in Lagos, the EFCC operatives demanded documents relating to allocation of foreign exchange to the group in the last ten years. They then scrutinized the documents provided by officials of the group for hours, carting some of them away. This newspaper learned that the EFCC had written to 52 companies directing them to supply…

Most universities around the world grapple with issues of academic corruption, hence the recent directive by the National Universities Commission (NUC) for vice-chancellors to compile a comprehensive list of full professors in their respective institutions over reports of fake professors becomes an eye-opener. The commission had asked VCs to forward the list, which must include names of professors, departments, year of professorship and area of specialisation. The order, it was learnt, followed reports about the prevalence of fake professors in the nation’s tertiary institutions. The commission in November 2019, said it uncovered about 100 fake professors in the universities. NUC’s…

The Manufacturers Association of Nigeria (MAN) has envisaged a tough operating environment for manufacturers in the country, particularly in the first six months of this year. The director-general of MAN, Mr. Segun Ajayi-Kadir, projected that the year 2024 to be challenging for manufacturers as the outlook for the sector may not be a positive one, especially in the first half of the year. He however expects a subtle possibility of recovery from the third quarter. He added that the envisaged recovery is highly dependent on the deployment of policy stimulus supported with a synthesis of domestic growth driven by export…

The Deputy Vice-Chancellor (Academic, Research, and International Partnerships) at Afe Babalola University, Ado Ekiti, and Global Vice Chair of the International Law Association, Professor Damilola Olawuyi (SAN), in this interview with Onozure Dania, says Nigeria’s foreign policy needs an urgent reset in 2024 International law and diplomacy, especially securing a significant inflow of foreign direct investment, has been identified as a key policy priority by the current administration. What is your assessment of the progress made so far? Indeed, the Bola Tinubu administration took office with a vow to put international diplomacy at the centre of our development strategy. Most…

The President of Harvard University resigned Tuesday, the prestigious US school’s student newspaper reported, after she faced criticism over allegations of plagiarism and her handling of anti-Semitism on campus. Claudine Gay was criticized in recent months after reports surfaced alleging that did not properly cite scholarly sources in her academic work. Her time was the shortest presidency in the University’s history. The most recent accusations came Tuesday, published anonymously in a conservative online outlet. Gay was also engulfed by scandal after she declined to say unequivocally whether calling for genocide of Jews violated Harvard’s code of conduct, during testimony to…

CALL FOR APPLICATIONS: 2023 AWARD OF THE RANK OF SENIOR ADVOCATE OF NIGERIA By the combined provisions of Section 5(2) of the Legal Practitioners Act, Cap L11 Laws of the Federation of Nigeria 2004 and Regulation 10 (1) (4) of the Guidelines for the Conferment of the Rank of Senior Advocate of Nigeria 2022 (“the Guidelines), the Legal Practitioners’ Privileges Committee (the LPPC” or “the Committee”) hereby makes a formal call for applications preparatory to the award of the rank for the year 2023 Commencing with this year’s exercise, applications shall only be made online and prospective applicants are directed…

The Federal Government has suspended the accreditation and evaluation of degree certificates from Benin Republic and Togo This move followed a report from an online platform detailing how a degree was acquired from a university in Benin Republic This report lends credence to suspicions that some Nigerians deploy nefarious means and unconscionable methods to get a Degree with the end objective of getting graduate job opportunities for which they are not qualified,” the spokesperson for the Ministry of Education Augustina Obilor-Duru said in a Tuesday statement. “The Federal Ministry of Education vehemently decries such acts and with effect from 2nd…

President Bola Tinubu has doubled funding for the nation’s judiciary to demonstrate his commitment towards making Nigeria’s steep economy tenable for jurists and other judicial officers Of the N28.7 trillion 2024 Renewed Hope budget, Mr Tinubu set apart N342 billion for the judiciary, an over hundred per cent increase from the previous N162 billion earmarked for the legal staff. “Funding the judiciary is a major element in our effort to support a just, rules-based society. Statutory transfer to the Judiciary has been increased from 165 billion naira to 342 billion naira,” presidential spokesperson, Ajuri Ngelale, quoted Mr Tinubu as saying.…

The Home Office of the United Kingdom on Monday announced that it had commenced the implementation of its policy banning Nigerian students and other overseas students from bringing in dependants via the study visa route. In a post on X (formerly Twitter), the Home Office reiterated that only those on postgraduate research or government-sponsored scholarship students will be exempted from the development. “We are fully committed to seeing a decisive cut in migration. From today, new overseas students will no longer be able to bring family members to the UK. Postgraduate research or government-funded scholarships students will be exempt,” the…