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‘Nigerians need to be more informed on trade laws’

By Sunday Aikulola
04 July 2017   |   3:47 am
Addressing journalists during the book launch in Lagos recently, he stated that the book would also ‘bridge the gap between the practical and theoretical exposure of what we study in school and what we do in court and the real business world.’

Addressing journalists during the book launch in Lagos recently, he stated that the book would also ‘bridge the gap between the practical and theoretical exposure of what we study in school and what we do in court and the real business world.’

The President Susana Cares Foundation, Mr. Chinedu Ezeokoronkwo has insisted that it is imperative for Nigerians to be informed about trade laws in the country.

To this end, he said a new book titled: ‘The Dynamics of Trade Law in Nigeria’, which he authoured is aimed at ameliorating the plight of Trade practitioners transacting business domestically and internationally.

Addressing journalists during the book launch in Lagos recently, he stated that the book would also ‘bridge the gap between the practical and theoretical exposure of what we study in school and what we do in court and the real business world.’

According to him, the book treats banking and other financial related areas, where issues of dollars and bank over charges are addressed. In most cases we have seen that traders are not even aware of what their charges are and banks outrageously impose charges on them.

He added that the book also addressed usurping of powers between National Agency for Food and Drug Administration and Control (NAFDAC) and Standards Organisation of Nigeria (SON). “Both agencies have their different functions but you see one agency usurping the power of the other and it shouldn’t be.”
Speaking further, he said many foreigners want to do business in Nigeria but cannot do so because The United Nations Convention on Sale of Good has not been domesticated.

“This is very unfortunate because Nigeria that is the giant of Africa that suppose to take the lead in the comity of nations have not done that. The book is also a clarion call that this Act should be adopted and domesticated.”

If this is done, it can be a veritable tool towards economic recovery. The book also made a strong argument for a more proactive enforcement of international awards. This will instill confidence in the minds of investors.

“Proceeds from the book go to support indigent students. We tend to hunt students that have lost hope by giving them ray of hope. We are taking up their sponsorship. The book is also internationally recognized. We get our funds from individual and corporate organizations,” he stated.

Similarly, the book reviewer, Barrister Izuchukwu Onyebuchi noted that the book did great justice to Trade law in Nigeria. “It sets out the type of business that can be done in Nigeria. It also sets out the legal regime and regulatory bodies. It also discusses the legislation that regulates specific businesses. It is a one-stop shop for all the legal knowledge you want to gain if you want to start business in Nigeria. The book is written in a simple manner for everyone to understand and relate with,” he explained.

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