Symposium Posts

The doctrine of subrogation, a corollary of indemnity is a distinctive principle that has shaped the history of insurance contracts in common and civil legal systems. In light of the circumstances, this piece reviews two fundamental aspects and theories of subrogation which have been a subject of controversy over the years. It discusses seminal English case law that laid to rest the juridical basis of subrogation and identifies some lessons that the Nigerian regime can emulate in handling subrogation actions.

India’s experience with payment banks raises questions about how successful PSBs will be in improving financial inclusion in Nigeria. India’s experience may suggest that niche banking institutions with multiple product offerings may not successfully drive the m-payments market. MNOs are non-traditional financial institutions that may be disincentivised from investing in the m-payments market if they are subject to stringent regulations. While it is still too early to determine the impact of the new PSBs, they will likely face the same difficulties as their Indian counterparts.

Nigerian legislatures should adequately respond to the harsh remedy of the one-size-fit-all remedy. It should consider the possibility of embracing the idea of a proportionate solution as provided in the new English reform. Such reform is desirable as it allows the courts greater flexibility to obtain fairer results. Adopting a proportionate remedy measured by the insured’s level of breach will mitigate the overly harsh application of the avoidance remedy while achieving a more equitable outcome for both parties.

The developmental indices of certain countries are immaterial to their compliance levels. Nevertheless, this paper argues that economic development cannot be divorced from economic crime, and for this reason, it is paramount for the SDGs to give this the attention it deserves.

Emerging States are urged to be more proactive in treaty making and the language contained therein. In essence, the inclusion of provisions to prevent misuse/ abuse of IPRs and anti-competitive practices in FTAs should be encouraged added to in-depth scrutiny of relevant IP provisions frequently found in TAs and/or that have been identified as bearing particular importance to the generic and biosimilar industries.

Afronomicslaw.org, the blog on International Economic Law Issues as they relate to the Global South is pleased to invite essay submissions  on International Economic Law topics relevant to the COVID-19 pandemic.

It would be beneficial to take more interest in private international law, but even more useful to adopt a harmonised approach in dealing with international commercial law. There are several justifications for Nigeria to consider the high-octane aspects of international trade such as free trade. Nevertheless, a journey towards sustainable growth would be to operate a rather seamless philosophy that brings different strands of commercial law interests together in dealing with the world.

Overall, research suggests that, for various reasons, it remains difficult to hold multinational parent companies responsible for their subsidiaries’ wrongs. The question remains whether there are indeed justifiable reasons for holding parent companies liable for their subsidiaries’ wrongs. This question must be answered affirmatively.

The current attention to sustainability challenges in Nigeria presents a good opportunity for policy makers to review the extant company legislation in Nigeria and incorporate CSR provisions suitable to the nation’s cultural and economic context. The aim of CSR regulation is to use the market economy to finance and achieve sustainable development. The purpose of the company should be redefined to serve all the constituents, not only the community, but also employees, customers and investors.

Without losing sight of the gaps in the PAIC, it is submitted that, even though it is not yet officially adopted as a binding instrument (given the uncertainty surrounding its official adoption), the PAIC can be important for African states. Primarily, as envisaged in its Article 2 (1), it can serve as a guideline for preparing model BITs as well as negotiating BITs with African and non-African states.