Author: Lawbreed Limited

The Central Bank of Nigeria on Tuesday raised its benchmark lending rate to 16.5 per cent in a sustained push to control inflation and ease pressure on the naira. Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), made this known at the end of the Monetary Policy Committee meeting in Abuja. The CBN said previous increases were beginning to yield results and there was need to keep tightening. It tightened by 100 basis points. Mr Emefiele announced that the committee also retained the Cash Reserve Ratio (CRR) at 32.5 percent, and voted to retain the asymmetric corridor at…

President Muhammadu Buhari on Tuesday flagged off the first crude oil drilling project in northern Nigeria, on the boundary of Bauchi and Gombe States. The NNPC had in October 2019 announced the discovery of hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin, in the North-eastern part of the country. The commercial quantity discovery was the first in the region after several crude oil explorations in the Upper Benue Trough. The oilfield will be developed by Sterling Global Oil, New Nigeria Development Commission (NNDC) and NNPC Ltd. The discovery of oil and gas in…

The Central Bank of Nigeria (CBN) says President Muhammadu Buhari will unveil the newly redesigned naira notes on November 23, 2022. Godwin Emefiele, CBN governor, said this on Tuesday while fielding questions from journalists at the monetary policy committee (MPC) meeting in Abuja. On October 26, Emefiele, announced the plan to redesign the naira to control money supply and aid security agencies in tackling illicit financial flows. The governor had said the new notes (N200, N500, and N1000) will be effective from mid-December 2022. However, on Tuesday, Emefiele said the bank will no longer wait till December 15 to “unveil…

The Nigerian Law School has set dates for the screening of successful candidates for the 2022 Bar Part II. The screening date and the call date were embedded in the result link – https://www.geo6loya.com.ng/admin/ER16112022AAA.php. According to the notice, the screening will commence on Saturday, November 26, and will run till, December 2nd. Candidates are advised to check their updated results to know their screening date. While 6 and 7 of December 2022 have been scheduled for the call to Bar ceremony which will hold at the Body of Benchers Complex.

President Muhammadu Buhari has approved and directed measures for the immediate implementation of the enhanced salary and welfare scheme for judicial officers. President Buhari announced this during the official commissioning and handover ceremony of the Nabo Graham-Douglass campus of the Nigerian Law School, Port Harcourt, Rivers State, to the Council of Legal Education yesterday. Buhari, who was represented by the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, a Senior Advocate of Nigeria (SAN), directed the chairman, Revenue Mobilisation and Fiscal Allocation Commission and the AGF to promptly commence measures towards the realisation and implementation of…

The Council of Legal Education has officially released the results of the 2022 Bar Part II exams written in August/September. The results which were part of the Council’s deliberation in its meeting yesterday would give way for the Call of qualified aspirants to the Bar a few weeks from now. According to the results breakdown, 119 students representing 2.05% bagged a first class, while 787 representing 13.56%, and 2460 representing 42.40% secured Second Class Upper and Lower divisions respectively. Furthermore, 1323 students constituting 22.8% made a pass, while the conditional pass category had 185 students making 3.19%. 15.89% of the…

The Nigerian Institute of Chartered Arbitrators (NICArb) has called on President Mohammadu Buhari to sign into law the Arbitration Act already passed by the Senate. Mrs Shola Oshodi-John, the Registrar/Chief Executive Officer of the institute made the remarks at a press briefing to kick-start the institute’s 2022 Annual Conference. The theme of the NICArb 2022 conference is: The Future of Arbitration and Alternative Dispute Resolution (ADR) in Africa: Developments and Sustainability. Oshodi-John said that the Arbitration Act, if assented to, would put Nigeria in the global map as a dispute resolution-friendly country, thereby, attracting investments. “Without the new Arbitration Act…

The trial of Mazi Nnamdi Kanu, the leader of the proscribed Indigenous People of Biafra, IPOB, has been postponed indefinitely by a Federal High Court in Abuja on terrorism-related charges. In anticipation of the outcome of the Federal Government’s appeal against the October 13 Court of Appeal ruling that absolved him of the terrorism charges, Justice Binta Nyako postponed the trial sine die. The Federal Government’s appeal seeking a reversal of the Court of Appeal judgment is also pending before the Supreme Court. Meanwhile, Mazi Kanu refused to appear before the Federal High Court for his trial. When asked about…

Speech Presented by Hon. Justice Mustapha Akanbi, at the Occasion of Call to Bar Ceremony Held at Nigerian Law School, Lagos on Thursday 12th October, 1995 I stand before you on this memorable day, a very happy man indeed. I am happy because it is my singular honour and privilege as the Chairman of the distinguished Body of Benchers to admit you, on behalf of the Body, to the Nigerian Bar as legal practitioners. Again, I am happy because I share with you the joy, which comes with a sense of achievement. I rejoice with your parents, your guardians, your…

The Chief Judge of the Federal High Court of Nigeria, Hon Justice John Terhemba Tsoho has notified his colleagues, All Hon. Judges of the Federal High Court of the 15 shortlisted candidates to be considered for appointment to the Federal High Court Bench, asks for objection if any. In a circular dated 14th November 2022, the Hon. CJ pointed out that this was sequel to the process of appointment of Judges to the Federal High Court Bench earlier circulated in his letters dated 20th December 2021 and 7th February 2022. He also stated that the shortlisted candidates were those who…