Insights Archives – The PALM: Legal Mag™

Category: Insights

The Metaverse: A New Universe for Business-Tom Utum Jr

Posted by The PALM | Aug 3, 2022 | Artificial Intelligence, Insights |

Like every other technological innovation, the Metaverse is poised to disrupting the way businesses interact and do business. The term Metaverse is used to describe the concept of a future version of the internet where physical environments are shared and fused into 3D virtual spaces into a perceived physical-digital universe. Simply put, in the metaverse, physical activities such as business transactions, music shows, clubbing, schooling activities, real-time romance and much more are enabled using virtual or extended realities which provides a seemingly real-time experience.

Natural Gas in Nigeria: Legal and Policy Aspects by Peter O. Okediya ACIArb(UK)

Posted by The PALM | Jul 6, 2022 | Africa Today, Insights |

In 2021, Nigerian President, Mohammadu Buhari, took to Twitter to declare the “Decade of Gas” – running from January 1, 2021 till 2030. Prior to this, 2020 was declared the “Year of Gas”. These declarations affirm the government’s goal to increase gas utility in all sectors. The National Gas Master Plan 2008 (“the Plan”) was the terminus a quo that charted Nigeria’s path to becoming a major player in the international gas market as well as laying a framework for gas infrastructure expansion within the domestic market. The overall aim of the Plan was to explicate steps that will assure long term energy security in Nigeria through natural gas.

Wema Bank Data Breach Scandal by Solomon Oluwaseun Olukoya

Posted by The PALM | Jun 18, 2022 | Featured, Insights |

A couple of weeks ago, the social space was polluted by the news of Wema Bank Plc being accused to have opened bank accounts for some persons without their consent. Although Bet9ja (as it is fondly called) is also somewhat linked to this alleged scandal.

Fraud In Electoral Technologies: A Case Study at The Kenyan Electoral Process By Beverly Tracy

Posted by The PALM | Jun 9, 2022 | Africa Today, Featured, Insights |

Elections are a momentous period in every country, that confronts the power of the people to exercise their sovereignty, whether by devolution or in a centralized system, to democratically delegate that power to representatives assigned to perform constitutionally established mandates. Kenya, therefore, like many countries, is no visitor to democratic elections. However, the conduct of elections in Kenya has not only been a controversial topic in international trends but has seen to it that its history as the first African nation and the third in recent world history to abrogate its presidential election result[i] consequent to September 1, 2017, Supreme Court decision remains a consistent conversation.

Notable Provisions in Nigeria’s New Rules on Issuance, Offering Platforms, And Custody of Digital Assets by John O. Oladipo

Posted by The PALM | May 18, 2022 | Africa Today, Insights, Tech |

The Security and Exchange Commission of Nigeria (“the Commission”) established a Fintech Roadmap Committee (“Committee”) in November 2018 to explore the impact of financial technology on investments and securities in Nigeria and to properly classify and regulate cryptocurrencies and virtual assets. The Committee recommended cryptocurrencies be classed as securities or commodities, among other recommendations.

Consequent to the Committee’s recommendations, the Commission started creating a framework for a virtual currency in Nigeria, and the released Statement is the first step toward cryptocurrency regulations