On the 29^th of April, 2021, the Central Bank of Nigeria (“ CBN”), the apex regulatory body for banks and other financial institutions in Nigeria created under the CBN Act 2007 (“CBN Act”),[1] announced the removal of all the directors of First Bank of Nigeria Limited (“FBN”) and its holding company, FBN Holdings Plc (“FBN Holdings”). The CBN also re-appointed 14 out of the 21 directors affected by the removal to form a new board of directors for the two institutions and reinstated the removed Managing Director/Chief Executive Officer of FBN (“MD/CEO”), Dr. Adesola Adeduntan.[2]

This action raises important legal issues, which will be addressed in this article, especially with regards to the regulatory powers of CBN to make decisions concerning the constitution of the board of directors of financial institutions in Nigeria.

The procedure for the recovery of premises is generally regulated by statute. In the absence of any separate agreement with respect to period of notice to be given to a tenant, a landlord is expected to comply with the provisions of the Lagos State Tenancy Law especially in terms of notice before he can recover his premises from a tenant, and going contrary implies that such eviction is invalid. In Lagos State, the following laws govern recovery of premises:

1. Lagos State Tenancy Law 2011;
2. Rent Control and Recovery of Residential Premises Edict No. 6, 1997 of Lagos State;
3. Recovery of Premises Law, Cap. 118, Laws of Lagos State 1973; and
4. Magistrate Court Law, Laws of Lagos State 2009.