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Posted in STRICTLY BLACK AND WHITE

#MYBARFINALSTESTIMONY 2018

#DearAspiranttotheBar,

 

bar-exams

Last year, after the MCQ App was launched, we worked together to present the stories of the over two dozen first classes and prize winners. This year we will also be sharing the stories of the first class students and prize winners. Be excited.

I buy into the founders of the MCQ APP vision to change the law school narrative. Indeed, preparation is a bigger part of the law school narrative than fear could ever be.

We hope to build your confidence and reinforce your conviction, story after story. We hope that you read the testimonies of your predecessors and remain inspired. We hope that these stories help you fix your eyes on the goal.

Please do not hesitate to reach out to your predecessors with your questions and inquiries.

We are also happy to answer your questions from here on.

We wish you the best.

Regards,

Ekaete Hunter.

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Posted in THEY SAY IT BETTER

ISSUES ARISING OUT OF S. 102 OF THE COMPANIES AND ALLIED MATTERS ACT AND S. 29 OF COMPANIES REGULATIONS.

By Tope Akinyode*

CORPORTE AFFAIRS COMMISSION LOGO
SOURCE: DAILYTRUST.COM.NG

SECTION 102 (1) OF THE COMPANIES AND ALLIED MATTERS ACT (CAMA), CAP. C20, LAWS OF THE FEDERATION OF NIGERIA (LFN), 2004 (“Section 102”) provides:

“102 (1) A company having a share capital, whether or not the shares have been converted into stock, may in general meeting and not otherwise, increase its share capital by new shares of such amount as it thinks expedient.” [Emphasis mine]

In relation to and for a better appreciation of the foregoing, SECTION 233(6) CAMA states that:

A company may, by its articles, provide that any matter not required by the articles or by this Act to be passed by a special resolution, shall be passed by an ordinary resolution.  

However, PARAGRAPH 29 OF THE COMPANIES REGULATIONS (“Paragraph 29”) also provides for the steps that are required of a company in order to increase its authorized capital. It states inter alia:

“Requirements for filing of notice of increase in authorized share capital shall include the following –

  1. Special resolution for increase in share capital signed by a director and secretary or two directors
  2. Updated annual return
  3. Updated section 553 where applicable
  4. Evidence of payment of FRC annual dues
  5. Payment of fees

If the two legislations highlighted above i.e, the Companies and Allied Matters Act (CAMA) and Companies Regulations (the “Regulations”) had adhered strictly to the same requirements for a Company to increase its share capital, this legal opinion would have been needless and would have amounted to a futile search for a thing which is not lost. In Nigeria’s corporate and companies’ firmament, the increase in shares of a running concern is common place. Hence, companies have had cause to worry over the appropriate procedure to adopt.

Read the full essay here.

 

*Tope Akinyode is a Legal Practitioner with areas cutting across “due dilligence”, debt recovery, and litigation. He also advises on Entertainment Law and Labour matters regularly. He can be reached at topeakinyode2@gmail.com.

Posted in RANDOM ACCESS MEMORY (RAM)

ACCESS TO BOOKS

The Access to Books project is a community development initiative founded by Gamaliel Olayiwola Fasuyi* as his personal CDS project during his service year as a member of the Nigerian Youth Service Corps. In this article and the attached report, he talks about the process leading up to the actualisation of the project’s goals which is equipping the libraries of some of the government schools in his state.

In January 2017, I was posted to Edo State for my mandatory National Youth Service. To be honest, I wasn’t particularly happy about it as I anticipated staying put in Lagos or at least getting Ibadan. My Camp experience at Okada (Ovia North-east) left much to be desired due to the appalling living conditions of the hostels. Two things stood out in my three weeks in orientation – I was chosen as the Deputy Hall President, who was entrusted with the post of the line guard of the hall, and I was also privileged to join the elite OBS Crew in camp, there I met really wonderful people.

It has always been my wish to be part of a voluntary community project and NYSC CDS was a perfect scheme to kick start this journey. While performing my duties as a line guard, I was opportune to engage and chat with the school kids nearby on issues concerning quality of teaching, access to books and hope to further their education. It was at this point I had an idea of the kind of project I will love to embark on. I do believe that the benefits of reading cannot be overemphasized. Continue reading “ACCESS TO BOOKS”

Posted in RANDOM ACCESS MEMORY (RAM)

THE NATIONAL TAX DEBATE 4.0: SPECIAL EDITION

Stay updated. Read on the first three editions of the National Tax Debate here.

However, we don’t want to offend them, so go down to the lake and throw in a line. Open the mouth of the first fish you catch, and you will find a large silver coin.Take it and pay the tax for both of us.

This year, the theme of the National Tax Debate, which held between March 12 to 14, 2017, was – ‘Enhancing Taxpayers’ awareness through Student Tax Clubs.’  With the full fledged support of the Joint Tax Board at it 137th meeting tagged ‘Collaboration amongst Tax Authorities; Its impact on revenue generation and service delivery to Taxpayers’, the Tax Club sought to add the voices of the leaders of tomorrow to the taxpayers’ awareness enhancement conversation.  Every geopolitical zone was represented by a tertiary institution – Obafemi Awolowo University, University of Lagos, University of Ilorin, University of Benin, University of Nigeria, University of Maiduguri, Lagos State University, Babcock University, Usman Dan Fodio University and University of Abuja.

Continue reading “THE NATIONAL TAX DEBATE 4.0: SPECIAL EDITION”

Posted in TALL TALES

CAB 8

The world is full of so-called prayer warriors who are prayer-ignorant. They’re full of formulas and programs and advice, peddling techniques for getting what you want from God. Don’t fall for that nonsense. This is your Father you are dealing with, and he knows better than you what you need. With a God like this loving you, you can pray very simply. Like this:

Deceit
Source: Pininterest

Read the earlier parts here

The ride back to their house was silent. She was strung up. He could tell. She had applied her hand cream three times already. They had spent roughly twenty minutes on the road. His fingers drummed on the steering wheel. They had less than roughly 120 seconds before the light turned green. He cleared his throat. What could he say? She took a deep breath.

He glanced sharply towards her. Her cheeks were wet with tears. “Hey.” He squeezed her thigh gently. She wiped her tears away. “I feel so bad.” She shook her head as if to staunch the flow of her tears. “Look at us. Abbey and Eddy must be feeling so sad right now with you still going to work and all. You ever feel like we could do better? Maybe we should visit them more often?” She patted her swollen belly lovingly. The light turned green. “This baby has made me a Dracula. I snored at work on Friday. I am still embarrassed. Thank God it was my last day before my maternity leave.” She sighed again. “Abbey and I had the most awkward conversation when you guys left the table. She wouldn’t look at me and when she finally did, she wouldn’t hold my gaze. I can’t place my finger on what is wrong. I mean Eddie is not doing badly. On the brighter side, he is doing the cooking he always loved doing. I wouldn’t mind some of that grilled tilapia of his. Abby and I have not had our weekly lunch meetings in a month. I don’t know how I will survive this maternity leave without her.” Continue reading “CAB 8”