Author: Lawbreed Limited

The National Assembly has directed its Clerk to transmit the Constitution Alteration Bill 20 which approves a uniform retirement age for judicial officers in Nigeria to the president for assent. This followed the adoption of a motion titled: “Passage of Constitution (Fifth) Alteration Bill No. 20 (Uniform Retirement Age for Judicial Officers), 2023” at plenary on Tuesday. The motion which was sponsored by the Chairman of the Senate ad hoc Committee on Constitution Review, Sen.Ovie Omo-Agege was in line with provisions of the Authentication Act. “Recall that on Tuesday, April 4, the Clerk to the National Assembly was directed to…

Seven commercial banks paid a total of N95.68 billion in the first quarter (Q1) of this year as a levy to the Asset Management Corporation of Nigeria (AMCON) amid concern over the continued existence of the agency, The ICIR reports. This was reported in the unaudited financial statements of Access Holdings, FCMB Group, Guaranty Trust Holding, Stanbic IBTC Holdings, Union Bank of Nigeria, Wema Bank and Zenith Bank for the period ended March 31, 2023. The cumulative figure represents the 0.5 per cent AMCON charges on banks’ preceding year’s total assets and contingent exposures. Established under the AMCON Act 2010…

A man widely seen as the godfather of artificial intelligence (AI) has quit his job, warning about the growing dangers from developments in the field. Geoffrey Hinton, 75, announced his resignation from Google in a statement to the New York Times, saying he now regretted his work. He told the BBC some of the dangers of AI chatbots were “quite scary”. “Right now, they’re not more intelligent than us, as far as I can tell. But I think they soon may be.” Dr Hinton also accepted that his age had played into his decision to leave the tech giant, telling…

The Lagos State Government has filed an appeal before the Court of Appeal sitting in Lagos to challenge the judgment of the National Industrial Court which nullified the state government’s appointment of a caretaker committee on transportation. The National Industrial Court in Lagos had on April 18, ordered the reinstatement of the operations of the Road Transport Employers Association of Nigeria in Lagos State and nullified the state government’s appointment of a caretaker committee on transportation. Justice Maureen Esowe made the order while delivering judgment in the suit marked NICN/LA/381/2022, filed by RTEAN to challenge its dissolution by the Lagos…

The Federal Government is reportedly set to proceed with its implementation of a five per cent excise duty tax on mobile telephone services, fixed telephone, and Internet services. This is despite a recent communication by the Minister of Communications and Digital Economy, Isa Pantami, that the government has exempted the telecoms sector from excise duty tax. In September last year, the Federal Government suspended the proposed excise duty on telecommunication services for the first time. The suspension was announced by Pantami during the inaugural meeting of the Presidential Committee on Excise Duty for the Digital Economy Sector. According to the…

A 32-year-old carpenter, Onyekachi Agu, poured acid on his ex-girlfriend and his rival was on Wednesday sentenced to seven years imprisonment by a Lagos State High Court sitting in Ikeja. Justice Oyindamola Ogala handed down the jail term after finding Agu guilty of a count of causing grievous bodily harm to two persons, Aishat Adefarati and Mansur Ahmed in 2020. When Agu was arraigned, the state prosecutor, Uju Uwangaze, told the court that he committed the offence on July 3, 2020, at Gangare Hotel, Mile 12, in Lagos. She said Agu traced the victims to the hotel and poured acid…

A whistleblower from the legal recruiting firm Major, Lindsey & Africa says Jane Sullivan Roberts, the wife of U.S. Supreme Court Chief Justice John Roberts, earned $10.3 million in commissions over seven years from her job as a headhunter at the company, where she placed attorneys with law firms—including at least one that argued a case before the Supreme Court after the placement was made. Sullivan Roberts earned the money between 2007 and 2014, having taken a job with the company two years after her husband was confirmed to the Supreme Court, according to a report out Friday from Business…

A 13-year-old American boy became a hero by managing to safely stop a school bus carrying dozens of kids when the driver lost consciousness. The drama unfolded Wednesday in the northern state of Michigan, when a teenager named Dillon Reeves got up and grabbed the steering when he saw the driver had fainted, and brought the vehicle to a halt in the middle of the road using the hand brake, school district superintendent Robert Livernois said. The bus was carrying nearly 70 students from Lois E. Carter Middle School in the town of Warren when the driver lost consciousness, as…

A former President of the Nigerian Bar Association (NBA), Mr Okey Wali SAN has been kidnapped by unknown persons in Port Harcourt, Rivers State. According to the NBA President, Yakubu Maikyau SAN, Wali was abducted in the early hours of Monday, April 17, 2023 after his convoy was allegedly attacked along East-West Road, in Obio/Akpor Local Government Area of Rivers State. This is the second time that the former NBA president will be abducted. He was kidnapped on October 11, 2014. He was released on October 24, having spent 13 days in the den of his kidnappers. Maikyau in a…

Background Ardova Plc (“Ardova” or “the Company”) in the normal course of its business as a petroleum marketing and distribution company incurs product losses and shrinkages. The Company typically expenses these losses in its Statement of Profit or Loss and takes a tax deduction on the entire sums expensed. The Company filed its 2014 and 2015 financial year tax returns reflecting the above deductions. The Company thereafter filed amended tax returns adjusting the capital allowances claimed to percentages lower than the maximum threshold of 66 ⅔% as prescribed by the 2nd Schedule of the Companies Income Tax Act (CITA). The…