Mergers and acquisitions and banks performance in nigeria. Evaluative study of the freedom of information act on. The freedom of information foi act signed into law on may 28, 2011 is an act that gives every nigerian a legal right of access to information, records, and documents held by government bodies and private bodies carrying out public functions. Freedom of information act and democratic consolidation in nigeria. The freedom of information act 2011 foi what it means. Governmental organs, social associations, officials, and mass media are obligated to provide every citizen with the opportunity to become acquainted with documents, decisions, and sources of information affecting her or his rights and interests. Index termsfreedom, information, records, office security management. In most cases, these laws, policies, regulations and practices tend to stifle or. A bill was passed by both chambers in the first quarter of 2007, but was vetoed by president olusegun obasanjo. The bill is to ensure free flow of information and to protect public officers for giving out information in their possession.
Analysis of performance pre and post consolidation of thirteen mega banks in order to consider if there had been improvements. In a country where freedom of information act is in operation. Nigerian president signs freedom of information bill. If the merger is approved by the sec, the parties can apply to the court nigerias federal high court for the merger to be sanctioned after which, the merger will become binding on the companies in question. Thus, where there is a riot and journalists have taken notes or filmed the incident, the seizure or destruction of. Even before the passage and subsequent signing of the freedom of information bill into law. Summary of kazakhstans constitutional guarntees of freedom of information extracted from the constitution. The offices of the information and privacy commissioners. Dogora, yakubu 2010, a bill for an act to provide for personal data protection to regulate the processing of information n relating to individuals, including the obtaining, holding, use or. The right to privacy in nigeria privacy international. Freedom of information is a necessity in order to salvage the nation nigeria and move it towards the part of economic and social transformation. Freedom of information bill passed by the national assembly, one of his major excuses was that it would undermine nigerias national security, especially in the light of the fact that a decision by the head of a public institution to deny access to information would be subject to. Nigeria freedom of information act 2011 and its implication for records and office security management ayuba a.
Greater challenges and business opportunities will come in 2004. Nigeria is the second country in the region, along with liberia, to adopt a comprehensive right to information law, while a number of other countries including ghana, sierra leone and senegal are currently considering legislation. It was not surprising, therefore, that when nigeria returned to democracy in 1999, one of the first moves by civil society was to lobby for a law that would enable nigerians to demand information about government and public institutions and would protect government officials. Nigerian journalists on may 3, 2014 joined their counterparts worldwide to celebrate the world press freedom day, a date set aside by the united nations general assembly in 1993, to apart from inform the general public on events and issues that affect them but to also let the people know that the media is a significant force in modernday culture and politics. For over eight years, the protagonists of the freedom of information bill have been toiling to get it passed at the national assembly. Acquirer acquirer acquirer scenario identity acquirer target new identity. Umoren department of accounting and taxation, college of business and social sciences, covenant university, ota, ogun state. The first newspaper in nigeria was established in 1859 and was. Freedom of information act applicable to all state in nigeria, appeal court rules nigerian states have no powers to reject requests filed under the freedom of information act foi, the court of. The period was characterized by financial deregulation, the global economic crisis, and bank restructuring programs. Nigeriaworld feature article freedom of information bill.
In recent years, with media megamergers, some say the press has fallen back. It plays a crucial role to society, serving as the watchdog of the society, and providing constant. Ati legislation in africa, nigerias freedom of information act foia of. Regulation of mergers in nigeria afoke igwe, bayo onamade i. Legal framework for mergers and acquisitions presented by prof. Merger oa merger is the combination of two or more separate firms into a single firm xthe firm so formed can take any of the new identities. Constitution of the federal republic of nigeria wipo. Information, in its various forms is the prerequisite for the functioning of modern society because success in every. Article 19 welcomes the adoption of the freedom of information act in nigeria in may 2011. Malawi, montenegro, mozambique, namibia, nepal, nicaragua, nigeria, papua. How to make a freedom of information request in nigeria. The nigerian freedom of information bill was along awaited bill which was finally signed into law.
Prospects and challenges preye kuro inokoba department of political science niger delta university, p. Post merger and acquisition and performance of deposit. Nigerias constitution and press freedom the tide news. Freedom of information bill 2012 article 19 free word centre, 60 farringdon rd, london ec1r 3ga. Freedom of information bill frequently asked questions subject to the provisions of this act but notwithstanding anything contained in any other act, law or regulation, every citizen of the federal republic of nigeria, has a legally enforceable right to, and shall, on application be given access to any record under the control of a. Freedom, information, law, progress, implementation, challenges, nigeria introduction information is the stimulus of all the thoughts and actions of living creatures. Freedom of information act 2011 laws of the federation of nigeria arrangement of sections 1.
It also mandates organizations to preserve its information in such manner that will enhance access to it. The foia in nigeria has been greeted by many proponents of the law as a step in the right direction. The presidents signature may 28 came 11 years after a foi bill was first submitted to nigerias 4th national assembly in 1999. So far, only few states in nigeria have adopted the freedom of information act at state level. Nigeria witnessed an unprecedented wave of mergers and acquisitions in its banking sector in the post1995 and 2009 periods as a result of regulatory mandates issued by the central bank of nigeria, aimed at strengthening the capital base of nigerian banks. The merger and related issues report of the special. Freedom of information act a ray of hope for democracy. Nigeria foi was enacted in 2011, foi is an act to make public records and information more freely available, provide for public access to public records and information, protect public records and information to the extent consistent with the public interest and the protection of personal privacy, protect serving public officers from adverse consequences of disclosing certain kinds of official. Umoren and olokoyo 2007 studied merger and acquisition in nigeria. Okonkwo at by central bank of nigeria and west african institute for financial and economic management waifem september 17 19, 2004. Review of relevant information on nigerias democracyfactsheet july, 2017 objective of the bill.
N 4 nnamdi azikiwe library university of nigeria nsukka. After a decade of consistent and fearless advocacy by civil society and media practitioners, the newly elected president of. It is related to freedom of expression, which can apply to any medium, be it oral, writing, print, electronic, or through art forms. Nigerias economy and the need to amend, repeal or create legislation that would significantly improve the business environment in nigeria. The freedom of information foi act signed into law on may 28, 2011 is an act that gives every nigerian a legal right of access to information, records, and documents held by government bodies and private. This presidential gesture received widespread commendation by many nigerians. The objective of the bill is to establish a body the commission responsible for the supervision, coordination and monitoring of nongovernmental organizations and civil society organizations in nigeria, with the aim of enabling them accomplish their.
Freedom of information or information freedom also refers to the protection of the right to freedom of expression with regard to the internet and information technology. The government of the united kingdom has theorised it as being an extension of freedom of speech, and a fundamental human right. Freedom of information act, journalism, jalingo, taraba state, government. Malgwi2, bulama kagu3 and ibrahim danjuma4 1 department of business management, university of maiduguri nigeria 2 bursary department, university of maiduguri, 3department of education, university of maiduguri, 4faculty of management and human resource. International foi laws national freedom of information. The government needs to combine public health measures with efforts to.
Under nigerias freedom of information law, the government must. Introduction the long awaited freedom of information bill has gained approval by the national assembly and assented by mr. Meanwhile, notable nigerians and groups have applauded the president for signing the bill into law. At last, jonathan signs foi bill into law vanguard news. Apr, 2018 freedom of information act applicable to all state in nigeria, appeal court rules nigerian states have no powers to reject requests filed under the freedom of information act foi, the court of. With the coming into force of the act, every person now has a legal right of. Nigerian treasury bills debt management office nigeria. Freedom of information bill frequently asked questions subject to the provisions of this act but notwithstanding anything contained in any other act, law or regulation, every citizen of the federal. I have just concluded reading the popular book, straight from the gut by jack welch. D, fca department of financial studies college of management science redeemers university km 46 48 lagos ibadan express way redemption city, mowa ogun state, nigeria. The bill was presented initially in 1999 when the return to democratic governance heightened the expectation that there will be increased disposition towards freer.
Historically, the freedom of information bill in nigeria could be traced back to 1993 during the regime of general sani abacha in which transparent government was not the order of the day. Folake eliasadebowale is a corporate partner and head of the firms private equity and oil and gas teams. Nigerian president goodluck jonathan has signed a freedom information bill. This study examines the impacts of merger on deposit money banks performance in nigeria between 2000 and 2009. Freedom of info around the world national democratic institute. The act affords everyone regardless of tribe, age, creed, a right of access to information or records held by public institutions and relevant private entities, irrespective of the form in which such information or records are kept. Jun 09, 2014 nigerian journalists on may 3, 2014 joined their counterparts worldwide to celebrate the world press freedom day, a date set aside by the united nations general assembly in 1993, to apart from inform the general public on events and issues that affect them but to also let the people know that the media is a.
Edetaen ojo, head media rights agenda mra, a young organization for the defense of free expression rights, civil liberties organization clo, and the. Jun 03, 2011 nigerian president goodluck jonathan has signed a freedom information bill. Freedom of information act applicable to all state in nigeria. The freedom of information act was enacted a few years ago. Analysis of nigeria freedom of information act on records and. This paper examines the freedom of information act foia with a view to. Primacy is granted to the provisions of the freedom of information act in instances of conflict with other laws. In 2011, niger adopted comprehensive regulation on access to information. The nigerian freedom of information foi act and the right to.
Freedom of information is freedom of a person or people to publish and consume information. It prevents the government and individuals from preventing a person from receiving information and ideas that are available to the public9. Utilising the doing business report 2016 and a collaborative survey conducted by the small and medium enterprises. Evaluative study of the freedom of information act on journalism practice in nigeria oberiri destiny apuke department of mass communication, taraba state university, p. Freedom of information may also concern censorship in an information technology context, i. Select multiple pdf files and merge them in seconds. Post merger and acquisition and performance of deposit money banks in nigeria imeokparia, lawrence ph. The campaign for the adoption of a freedom of information law in nigeria is now in. Analysis of performance preandpost consolidation by a. Introduction in nigeria, mergers by private or public companies are principally regulated under the investments and securities act 2007 the isa and the rules and regulations made pursuant to the isa the sec rules. Media practitioners believe that the freedom of information, as a communication phenomenon will play an essential role in placing nigeria on the right track of development. Nigeria freedom of information act 2011 and its implication. The paper revealed the genesis of freedom of information foi bill in nigeria and the organizations instrumental to its enactment. The signing of the bill into law raises nigerias integrity in the comity of nations.
An overview of the freedom of information act an appraisal from a. The court may by the order sanctioning the merger or subsequent order make provision for any or all. Freedom of information act and democratic consolidation in. This paper examines the freedom of information act in nigeria with a view to pointing out its strength and the challenges for its effective implementation. In order to strengthen the competitive and operational capabilities of banks in nigeria with a view towards returning global and public confidence to the nigerian banking sector and the economy in general, the central bank of nigeria instituted a banking reform in 2004, which saw most of the then existing 89 banks merging with each other.
The focus of this paper is to xray the nigerian freedom of information bill, its relevance and challenges in the scheme of national development. Extension of time limit for granting or refusing application 7. The question still is how free is the freedom of information act 2011 and what are its. Ajimobi disowns freedom of information foi act in oyo state a lawyers explanation of the freedom of information act 2011 1 2 reply go down the freedom of information foi act 2011. Challenges that are confronting the implementation of the act are. Freedom of information act central bank of nigeria. Analysis of nigeria freedom of information act on records. Mechanics of mergers, acquisitions, workshop, 2005 created date. Freedom of information bill in nigeria for over eight years, the protagonists of the freedom of information bill have been toiling to get it passed at the national assembly. Nigerias freedom of information bill and national development jonathan chima ogugua federal university of technology, owerri, nigeria email. An act to codify the law relating to bills of exchange, cheques and promissory notes.
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