This book critically reviews transnational banking regulations that specifically impact consumer lending in Africa's largest economy. It provides a comprehensive analysis on the politics and economics of financial sector consolidation in an emerging market in West Africa, also covering law, consumer credit, and consumer policy along with a discussion of banking sector reforms heavily influenced by the neoliberal economics paradigm. There have been several developments since the publication of the existing books especially in the area of regulatory theory and social protection that are captured in this book, which will be of interest to researchers, students, and scholars of banking regulation, development economics, and international finance.
As the single most populous nation in Africa, Nigeria recently overtook South Africa as the largest economy on the continent. Natural resources, oil and gas in particular, comprise the country’s single largest revenue-earner but the 170m person economy also has seen significant activity in recent years into the industrial, financial, telecoms and – as of 2013 – power sectors. Hydrocarbons reserves have traditionally attracted the vast majority of domestic and foreign investment in Nigeria. Oil production capacity has remained at roughly 2.5m barrels per day (bpd) since the start of 2000, although output fell to 2.2m bpd on average in 2012. Still, the country has long operated below its true potential and government efforts in recent years have sought to increase local value addition, by boosting refining capacity and minimising theft and bunkering. The country’s banking sector has been through a significant shake-up as well, resulting in a far healthier and more robust financial industry, while reforms in the telecoms and agricultural sectors have strengthened medium-term prospects.
This book offers a valuable guide to one of the most challenging areas of commercial law, now frequently referred to as secured transactions, with a focus on Nigerian, Canadian and United States perspectives. A debtor’s ability to provide collateral influences not only the cost of the money borrowed, but also in many cases, whether secured lenders are willing to offer credit at all. The book proposes that increasing access to, and indeed, lowering the cost of credit could tremendously boost economic development, while at the same time arguing that this would best be achieved if the legal framework for secured transactions in Nigeria, and of course, any other country with similar experiences, were designed to allow the use of personal property and fixtures to secure credit. Similarly, the creation, priority, perfection, and enforcement of security interests in personal property should be simplified and supported by a framework that ensures that neither the interests of secured lenders nor debtors are hampered, so as to guarantee the continuous availability of affordable credit as well as debtors’ willingness to borrow and do business. The book further argues that in addition to the obvious preference for real property over personal property by secured lenders due to the unreformed secured-transactions legal framework in Nigeria, its compartmentalized nature has also resulted in unpredictability in commerce and the concomitant effects of poor access to credit. Through the comparative research conducted in this book utilizing the UCC Article 9 and Ontario PPSA as benchmarks, the author provides reformers with a repository of tested secured-transactions law solutions, which law reformers in the Commonwealth countries in Africa and beyond, as well as the business community will find valuable in dealing with issues that stem from secured transactions.
2001-2010 proved to be a transitional decade for Africa, ushering in a new image and status for the continent. Africa began to show it was truly shaking the shackles of its colonial and chaotic past. Now that the New Africa has arrived, what does that mean? And, what does it mean for business? On almost every issue that has been pegged a negative for Africa - population boom, poverty, disease, governance, economic instability, and conflicts - there is evidence of a growing shift in the other direction. Businesses need to wake up and proactively shift to this new reality, or paradigm. While business principles apply across any market, businesses need to adapt their strategies to the context of Africa to be successful and understand that Africa is one of the key regional markets in the next generation of business. "Redefining Business in the New Africa" sets out to establish a new baseline and framework for engagement in Africa, which reflects the current and future trends of a region headed for emerging market status. While Africa still has to deal with legacy issues, the power of its "now" and future is greater. In this book you will learn about: - A new context and framework for business in Africa - A few major future trends and sectors in Africa - Strategic approaches to doing business and investing in the New Africa - How to tackle, or respond, to some of the challenges in the New Africa Get ready to rock and roll in this new era for business in Africa!
Nigeria, the United States’ most important strategic partner in West Africa, is in grave trouble. While Nigerians often claim they are masters of dancing on the brink without falling off, the disastrous administration of President Goodluck Jonathan, the radical Islamic insurrection Boko Haram, and escalating violence in the delta and the north may finally provide the impetus that pushes it into the abyss of state failure. In this thoroughly updated edition, John Campbellexplores Nigeria’s post-colonial history and presents a nuanced explanation of the events and conditions that have carried this complex, dynamic, and very troubled giant to the edge. Central to his analysis are the oil wealth, endemic corruption, and elite competition that have undermined Nigeria’s nascent democratic institutions and alienated an increasingly impoverished population. However, state failure is not inevitable, nor is it in the interest of the United States. Campbell provides concrete new policy options that would not only allow the United States to help Nigeria avoid state failure but also to play a positive role in Nigeria’s political, social, and economic development.
Regenerative and Sustainable Futures for Latin America and the Caribbean explores how to build sustainable futures for Latin America and the Caribbean, presents recommendations for policy and decision-makers to shape sustainable futures, and reflects on the value of collective action for a region that deserves a better tomorrow.
Volume 1 on public law provides an introduction to the Nigerian legal system. The various chapters deal with: introduction and sources of law; jurisprudence and Nigerian perspectives; African customary law; Islamic law; comparative constitutionalism and Nigerian perspectives; citizenship, immigration and administrative law; judicial system and legal profession; criminal law, evidence and civil procedure; statutory marriage and divorce laws; customary marriage and divorce; marriage and divorce under Islamic law; matters of children; gender and law in Nigeria with emphasis on Islamic law. Volume 2 has 25 chapters on private law that includes security of the environment and environmental law, land and property administration, commercial business and trade laws, communication, media and press laws, transportation and carrier laws, law enforcement, armed forces and military laws, investments, and intellectual property.
