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All Journal Dialektika kontemporer INSIGHT: Indonesian Journal of Social Studies and Humanities
Michael Takim Otu
University of Calabar
Religion Humanities Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

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An Analysis of Powers and Duties of a Receiver under Nigerian Company Law Michael Takim Otu; Miebaka Nabiebu
Jurnal Ilmu Sosiologi Dialektika Kontemporer Volume 10, Nomor 1, January-June 2022
Publisher : dialektika kontemporer

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Abstract

The law draws a distinction between the functions of a receiver and a manager. A receiver has the duty to stop the business, collect the debts and realize the assets. He has no authority to carry on a going concern. Nevertheless, a manager, on the other hand, has powers to continue a business or any going concern. Thus, the primary motive for the appointment of the receiver/manager is that of the realization and preservation of the company’s security of those on whose behalf he is appointed. The actual role of a receiver is that of an agent. He as an agent is personally liable on any contract entered into by him in the performance of his functions except where the contract provides otherwise. As an agent, the primary duties of the receiver involve good faith, special confidence, and candour towards another. Basically, the duties of a receiver are those which can justifiably be said to be incidental to his powers of management. The paramount duty of the receiver on his appointment is to take possession of all the assets covered by the charge, since those are the things he is appointed to manage with a view to recovering what may be due to the debenture holders or mortgagees.
The Status of the Customary Tenant In Relation To Land Held by Him under Customary Law: The Dilemma for the Conveyancers in Nigeria Michael Takim Otu
INSIGHT: Indonesian Journal Social Studies and Humanities Vol 3, No 1 (2023): INSIGHT: Indonesian Journal of Social Studies and Humanities
Publisher : INSIGHT: Indonesian Journal Social Studies and Humanities

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Abstract

Abstract. The article seeks to examine the effects of the Land Use Act of 1978 on the customary system of land holding in Nigeria. Since the inception of the Act, the problem facing our courts, the unlearned public, and lawyers alike has been the determination of the true position of customary tenancy under the right of occupancy system introduced by the Act. In fact, the customary tenant is perplexed about the nature and scope of his property rights and obligations under the Act. These include his present duties and obligations, if any, to his customary overlord. The crux of the issue is whether he is to continue to pay the customary tribute to his overlord. Is he to continue seeking the approval or consent of the customary overlord before effecting a valid land transfer? Is he still under the spectre of forfeiture of his interests upon proof of bad behaviour against his overlord? Is the customary tenant entitled, as against his overlord, to the right of occupancy and the certificate of occupancy to be issued in evidence thereof? Thus, the controversy generated by these issues continues to defy consensus among the “egg heads” of our academia as well as the erudite judges of our courts. Indeed, many judicial decisions seem to demonstrate that the judiciary is yet to put the controversy on this issue to rest. As a result, the judicial quandary for Nigerian conveyancers continues to this day. Keywords: Customary Tenant, Overlord, Grantor, Grantee, Tribute, Rent, Forfeiture
Co-Authors Miebaka Nabiebu