Imagine that in an average Nigerian home today, a 40 year old man informs his 35 year old wife that he was going to see his lawyer to write his will, the following conversation will be the likely aftermath of that information. Wife: Are you sure you’re okay? Man: Of course, I am. Wife: AreContinue reading “WILLS: DEFINITION AND EXPLANATION”
Category Archives: people
BRIEF EXPLANATION OF THE PENSION REFORM ACT 2014: FOR SMEs AND MSMEs
The Pension Reform Act 2014, which repealed the Pension Reform Act No. 2 of 2004 (repealed Act) was signed into Law on 1st day of July, 2014. The Pension Reform Act governs and regulates the administration of the contributory pension scheme for both public and private sectors in Nigeria. The crux of the Act isContinue reading “BRIEF EXPLANATION OF THE PENSION REFORM ACT 2014: FOR SMEs AND MSMEs”
BRIEF BREAKDOWN OF THE NATIONAL HOUSING FUND ACT
National Housing Fund (NHF) established by the NHF Act of 1992 is a Federal Government scheme, which entitles all Nigerians above the age of 21 years in paid employment to a government funded loan with low interest. The National Housing Fund was created by the Federal Government to cater for the housing needs of the Nigerian citizenry.
SHORT ANALYSES OF THE EMPLOYEE COMPENSATION ACT, 2010.
The Employee Compensation Act, 2010 (the Act) is the extant law governing the payment of compensation to all employees both in the public and private sector except members of the armed forces. It mandates all employers to contribute 1% of the total monthly payroll into the compensation fund and entitles all employees to claim compensationContinue reading “SHORT ANALYSES OF THE EMPLOYEE COMPENSATION ACT, 2010.”
TRADE UNIONS IN NIGERIA PART 2 (SERIES)
THE PROPRIETY OR OTHERWISE OF EMPLOYERS PREVENTING THEIR EMPLOYEES FROM FORMING OR JOINING TRADE UNIONS Section 40 of the 1999 Constitution of the Federal Republic of Nigeria made provision for citizens’ freedom to assemble and associate with other persons, and in particular to join and form associations for the protection of their rights. Therefore, itContinue reading “TRADE UNIONS IN NIGERIA PART 2 (SERIES)”
TRADE UNIONS IN NIGERIA (series)
A trade union is an organized association of workers or employers from related fields – trades, profession or industry, who come together for the purpose of protecting its members against exploitation by their employers or supervisory or regulatory bodies, and ensuring the maintenance and improvement of their collective interests.
WHAT IS AN INDEMNITY CLAUSE AND HOW IMPORTANT IS IT?
An indemnity is a promise by one party to compensate another for the loss suffered as a consequence of a specific event called the ‘trigger event’ – the trigger event can be anything defined by the parties including, a breach of contract, a party’s fault or negligence, or a specific action. An indemnity clause thereforeContinue reading “WHAT IS AN INDEMNITY CLAUSE AND HOW IMPORTANT IS IT?”
WHY SHOULD YOU EXECUTE VENDOR AGREEMENTS AS A BUSINESS OWNER?
No one, and definitely no business can exist in isolation. Hence, demand and supply is at the core of every business, whether what it offers is goods or services, and at the very center of this is vendors. Vendors are persons or other businesses hired to provide products and/or services, be it on a one-timeContinue reading “WHY SHOULD YOU EXECUTE VENDOR AGREEMENTS AS A BUSINESS OWNER?”
WHAT YOU NEED TO KNOW ABOUT EMPLOYMENT CONTRACTS
An employment contract also known as contract of employment is an agreement that covers the working relationship between an employer and an employee. It allows both parties to clearly understand their obligations, responsibilities and the terms of employment. An employment contract must clearly define all terms and conditions of the employment relationship. Under Section 91Continue reading “WHAT YOU NEED TO KNOW ABOUT EMPLOYMENT CONTRACTS”
WHAT YOU NEED TO KNOW ABOUT NON-DISCLOSURE AGREEMENTS (NDAs)
A Non-Disclosure Agreement (NDA) also known as Confidentiality Agreement (CA), Confidential Disclosure Agreement (CDA), Proprietary Information Agreement (PIA) or Secrecy Agreement (SA) is a legal contract or part of a contract between at least two parties that outlines confidential material, knowledge or information which the parties wish to share with one another for certain purpose,Continue reading “WHAT YOU NEED TO KNOW ABOUT NON-DISCLOSURE AGREEMENTS (NDAs)”