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New partnership law unveiled in Lagos

New partnership law unveiled in Lagos

BY GBENGA OLORUNPOMI

March 24, 2010 12:12AM

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Investors got one more reason to do
business in Lagos State yesterday as the Commissioner of Justice and
Attorney General, Supo Shasore, presented the amended version of the
Partnership Law of Lagos State.

This presentation took place at a
breakfast meeting with lawyers, professionals and journalists at the
Eko Hotels and Suites, Victoria Island.

Dignitaries in attendance included the Commissioner for Economic Planning and Budget, Ben Akabueze.

What has changed?

This new law contains the amendments
creating Limited Liability Partnerships (LLP) in business. This means,
investors that register their businesses under this law enjoy reduced
responsibility if the partnership breaks up or the venture fails.

It also means the partners are immune
to lawsuits, if an entity decides to take their company to court. The
Lagos State governor, Babatunde Fashola, assented to it in March 2009,
although work began on its formulation in 2003.

In the original model, partners could
be sued along with the company they set up, and had to pay shareholders
out of their pockets if the business winds up.

The desire to protect investors and
keep the trend in growing economies around the globe encouraged the
Lagos government to push for the law’s creation. The Registrar of
Partnerships and Director of Commercial Law, Funlola Odunlami, said,
“The newly-amended law is especially a bigger vehicle for the execution
of partnerships, who intend to engage in joint trade or business for
profit, while enjoying most of the benefits accruable to limited
liability companies.”

She said the law made it more convenient to do business.

New law

Mr. Shasore said the Partnership Law
had undergone much change in the past, and this was another level in
its evolution. The last part of the four-part law is dedicated to the
workings of the LLP.

He said the new law come about because
of the government’s “quest to do business in a seamless and convenient
way.” He also said parts of the concept were borrowed from other
countries like Singapore and the United Kingdom.

“The law doesn’t seek to incorporate
any entity,” he warned. “You must first of all have a partnership
before you can approach this law. When you file on the provisions of
the law at the registry, what you are seeking to do is not to
incorporate an LLP; what you are seeking to do is register a
partnership and give it limited liability.”

During the question and answer session, Mr. Supo assured Lagosians that the law would become universal.

He said states in the United States would soon have a unified law on Limited Liability Partnerships.

“Embrace it”

Lawyers at the event were encouraged to take advantage of the law to form larger law firms.

Speaking after the event, Mr. Akabueze said the business community would welcome the law.

“They will embrace it. It presents part of our efforts to expand the
frontiers of business relationships and grow partnerships as a
veritable alternative to structuring large businesses. Before now,
there’s been a notion that partnerships necessarily have to be small
operations. By this law, they can become very large.”

Agency allays fears over weather

Agency allays fears over weather

By Okechukwu Nnodim

March 24, 2010 12:09AM

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The Nigerian
Meteorological Agency (NIMET) on Tuesday allayed fears that the current
change in the weather in our country might cause skin ailments.

Speaking to
journalists at the agency’s Lagos office, Ifeanyi Nnodu, the acting
director weather forecasting services, disclosed that people should not
take seriously, the warnings that they stay indoors because the weather
will result in acid rain that is cancerous to the human skin.

“People should go
about their businesses. The moon does not give acid rain,” he said.
“There is nothing to be worried about, for acid rain does not give
cancer and it is not associated with the moon.”

According to Mr.
Nnodu, acid rain is caused by man’s activities that inject oxides of
carbon, nitrogen and sulphur into the atmosphere. He added that when it
rains, the particles are brought back to the earth, affecting plants,
metals, and some other organisms, but not humans.

“It is something
that happens normally in industrial areas, not because you are in March
2010, so when it rains you should go about what you are doing,” he
said. “The rain may be acidic as a result of industries in Lagos, but
it does not cause cancer.”

Last week, there
were speculations by people in the state that the prevailing weather
condition might result in a rainfall that is cancerous to the skin, and
the situation led to emails and text messages requesting people to stay
indoors whenever it rains.

Mr. Nnodu, however, advised asthmatic patients to desist from environments that are dusty, as this may exacerbate their ailment.

“Dust particles are
irritants to those who have asthmatic problems, health problems, and
heart diseases, and they are usually advised to keep indoors so that it
does not aggravate their health conditions,” he said.

On when the hazy
weather is to clear, Mr. Nnodu disclosed that the onset of the rainy
season will dispel the harmattan fog, especially in southern Nigeria.

“The dust may persist for some time in the northern part of this
country, but from the predications we gave concerning the onset of the
rainy season, the southern part is already getting to its offset, and
we are expecting that the rains will come and the dust will disappear,”
he said.

Agency allays fears over weather

Agency allays fears over weather

By Okechukwu Nnodim

March 24, 2010 12:09AM

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The Nigerian
Meteorological Agency (NIMET) on Tuesday allayed fears that the current
change in the weather in our country might cause skin ailments.

Speaking to
journalists at the agency’s Lagos office, Ifeanyi Nnodu, the acting
director weather forecasting services, disclosed that people should not
take seriously, the warnings that they stay indoors because the weather
will result in acid rain that is cancerous to the human skin.

“People should go
about their businesses. The moon does not give acid rain,” he said.
“There is nothing to be worried about, for acid rain does not give
cancer and it is not associated with the moon.”

According to Mr.
Nnodu, acid rain is caused by man’s activities that inject oxides of
carbon, nitrogen and sulphur into the atmosphere. He added that when it
rains, the particles are brought back to the earth, affecting plants,
metals, and some other organisms, but not humans.

“It is something
that happens normally in industrial areas, not because you are in March
2010, so when it rains you should go about what you are doing,” he
said. “The rain may be acidic as a result of industries in Lagos, but
it does not cause cancer.”

Last week, there
were speculations by people in the state that the prevailing weather
condition might result in a rainfall that is cancerous to the skin, and
the situation led to emails and text messages requesting people to stay
indoors whenever it rains.

Mr. Nnodu, however, advised asthmatic patients to desist from environments that are dusty, as this may exacerbate their ailment.

“Dust particles are
irritants to those who have asthmatic problems, health problems, and
heart diseases, and they are usually advised to keep indoors so that it
does not aggravate their health conditions,” he said.

On when the hazy
weather is to clear, Mr. Nnodu disclosed that the onset of the rainy
season will dispel the harmattan fog, especially in southern Nigeria.

“The dust may persist for some time in the northern part of this
country, but from the predications we gave concerning the onset of the
rainy season, the southern part is already getting to its offset, and
we are expecting that the rains will come and the dust will disappear,”
he said.

Flight operations resume across local airports

Flight operations resume across local airports

By Okechukwu Nnodim

March 24, 2010 12:07AM

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Airlines in our
country on Tuesday commenced flight operations by airlifting passengers
from various airports to their respective destinations. This came after
about 24 hours of complete flight cancellations by airlines, following
the “hazardous weather conditions” experienced in the country.

Though there were
flight delays especially to northern states, as a result of the weather
situation, the Murtala Mohammed Airport (MMA), Lagos, witnessed series
of aircraft take-offs and landings.

“Passengers can now
fly based on instructions from the control tower, and this is because
the weather, though fair, has not cleared completely,” said an officer
with Aero Contractors, who asked to remain anonymous. The source
disclosed that the bad weather affected carriers in the country
negatively, stressing that during yesterday’s severe hazy weather, some
passengers demanded the refund of their fares “without considering the
airline.”

“Airlines lost
millions to that incident yesterday, but some passengers refused to
understand that it was not the fault of airlines,” the source said.

Meanwhile, the
sales of tickets by ticketing officers at the Murtala Mohammed Airport
2 (MMA2) and the General Aviation Terminal (GAT) went on as usual, and
passengers embarked on their flights with various aircrafts departing
the airports.

Onn Monday, we
reported that hundreds of passengers were stranded at different
airports in our country, following the fog that impaired visibility
across our nation’s airspace.

Earlier, the
Nigerian Civil Aviation Authority (NCAA), while reacting to the
situation, directed airlines and their flight crews to enlighten
travellers about the situation, adding that the cancellation of flights
was for the good of the passengers, as safety is the highest priority.

Harold Demuren,
director general of the aviation authority, implored pilots to carry
out intensive pre-flight briefings for weather conditions before
embarking on any flight.

According to Mr. Demuren, Nigeria experiences regular harmattan that reduces the visibility of pilots during flight operations.

“Pilots should
carefully review the procedures for their operations whenever a
forecast shows that reduced visibility or adverse weather conditions
might exist for any portion of the flight,” he said.

“Nigerian Airspace Management Agency (NAMA) will close airports to
arrivals and departures when the runway visual range is measured at
less than 800 metres, and pilots must be prepared to postpone flights
or divert to alternate airports in the circumstances.”

Flight operations resume across local airports

Flight operations resume across local airports

By Okechukwu Nnodim

March 24, 2010 12:07AM

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Airlines in our
country on Tuesday commenced flight operations by airlifting passengers
from various airports to their respective destinations. This came after
about 24 hours of complete flight cancellations by airlines, following
the “hazardous weather conditions” experienced in the country.

Though there were
flight delays especially to northern states, as a result of the weather
situation, the Murtala Mohammed Airport (MMA), Lagos, witnessed series
of aircraft take-offs and landings.

“Passengers can now
fly based on instructions from the control tower, and this is because
the weather, though fair, has not cleared completely,” said an officer
with Aero Contractors, who asked to remain anonymous. The source
disclosed that the bad weather affected carriers in the country
negatively, stressing that during yesterday’s severe hazy weather, some
passengers demanded the refund of their fares “without considering the
airline.”

“Airlines lost
millions to that incident yesterday, but some passengers refused to
understand that it was not the fault of airlines,” the source said.

Meanwhile, the
sales of tickets by ticketing officers at the Murtala Mohammed Airport
2 (MMA2) and the General Aviation Terminal (GAT) went on as usual, and
passengers embarked on their flights with various aircrafts departing
the airports.

Onn Monday, we
reported that hundreds of passengers were stranded at different
airports in our country, following the fog that impaired visibility
across our nation’s airspace.

Earlier, the
Nigerian Civil Aviation Authority (NCAA), while reacting to the
situation, directed airlines and their flight crews to enlighten
travellers about the situation, adding that the cancellation of flights
was for the good of the passengers, as safety is the highest priority.

Harold Demuren,
director general of the aviation authority, implored pilots to carry
out intensive pre-flight briefings for weather conditions before
embarking on any flight.

According to Mr. Demuren, Nigeria experiences regular harmattan that reduces the visibility of pilots during flight operations.

“Pilots should
carefully review the procedures for their operations whenever a
forecast shows that reduced visibility or adverse weather conditions
might exist for any portion of the flight,” he said.

“Nigerian Airspace Management Agency (NAMA) will close airports to
arrivals and departures when the runway visual range is measured at
less than 800 metres, and pilots must be prepared to postpone flights
or divert to alternate airports in the circumstances.”

Bank PHB ex-directors re-arraigned in court

Bank PHB ex-directors re-arraigned in court

National Identity Commission inaugurates board

Judges redeployment stalls tobacco suit

Judges redeployment stalls tobacco suit

By Odunayo Abiodun

March 23, 2010 03:15AM

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The joint suit instituted by the Lagos
State government and the Environmental Rights Action/ Friends of the
Earth Nigeria (ERA/FOEN) against five tobacco companies before a Lagos
High Court sitting in Igbosere, could not continue on Monday because of
the redeployment process going on in the Lagos judiciary.

At the resumed hearing of the suit, the
presiding judge, Raliat Adebiyi, noted that she would not be able to
continue with the hearing of the applications brought by the counsel,
since she has been transferred to the Ikeja division of the Lagos High
court, and is trying to collate the files before her. The hearing of
the applications was, therefore, adjourned to April 19, 2010, in Ikeja,
where she will continue to preside over the suit amongst other suits.

Justice Adebiyi has been deployed from
the commercial division of the Lagos High court sitting in Igbosere to
the Land section of the court sitting in Ikeja.

The claimants had instituted the action
against the tobacco companies – British American Tobacco (Nigeria)
Limited, International Tobacco Limited, British American Tobacco Plc
and British American Tobacco Investment Limited – on the ground that
tobacco smoking has severe health implications, including but not
limited to cancer, cardiovascular and pulmonary complications, noting
that the defendants have recently admitted these facts.

Allegations

They had alleged that, in spite of the
obvious knowledge of the adverse effect of their product, the
defendants have fraudulently targeted the young and the under-aged in
their advertisement and marketing.

That, through the use of market surveys
and sophisticated advertising, the defendants have utilised such means
as music, cinema and fashion, to attract young and under-aged persons
to smoking.

They submitted further that the
mandatory health warnings inscribed on their packs are ineffective, as
the defendants promote a retail strategy of sale by the stick, whereas
the individual sticks that most consumers purchase have no such
warnings.

The claimants’ causes of action are
based on negligence, public nuisance, restitution, strict liability,
and conspiracy to commit actionable wrongs, among others.

It was contended that the overall
effect of the defendants’ course of conduct is that the state
government is called upon to expend its resources in treating tobacco
related ailments caused by the use of defendants’ products, maintaining
that the state government spends at least N316, 000 per month on each
of these ailments.

Claims

Consequently, the claimants want an
order of mandatory injunction compelling the defendants, their
successors-in-title, privies and/or agents to cease the marketing,
promotion, distribution and sale of tobacco-related products to minors
or under-aged persons.

An order of mandatory injunction
restraining the defendants from representing or portraying to minors or
persons under the age of 18, any alluring and/or misleading image
regarding tobacco related products, whether by direct depictions,
pictorials, advertorials, images, words, messages, sponsorships,
branding and/or through overt or covert and/or subliminal means.

Furthermore, the claimants asked for an
order of mandatory injunction restraining the defendants from
marketing, distributing, selling, or putting into the stream of
commerce, either by themselves or through their distributors, agents,
resellers, trade partners, marketers, and or any other person, any
tobacco related products of whatever make or brand within a one
thousand (1000) metre radius of any schools, hospitals, cinemas,
playhouses or locations, children’s shopping areas, childcare
facilities or such other public places in Lagos State, which are
predominantly a location for minors and young persons under 18 years to
“hang out”, play, assemble, congregate for any purpose whatsoever,
including but not limited to educational, recreational, social,
religious, sports or any other purposes.

In addition, they urged the court to
grant an order of mandatory injunction compelling the tobacco companies
to fund a tobacco control programme to be administered and controlled
by an independent third party, who is to be appointed by the Lagos
State government, targeted at minors and young persons under 18 years.

They also want a declaration of the
court that the tobacco related products are addictive, and a
declaration of the court that the tobacco related products as
manufactured, marketed, promoted, distributed and sold by the
defendants, are hazardous and injurious to public health.

The claimants also sought special, general, punitive and
anticipatory damages in the sum of $21,617,605, 885.17 from the
defendants.

Task force raids Computer Village again