• Tue. Apr 23rd, 2024

Polaris Bank CEO Advocates Legal Reforms Dor Sustainable Economic Growth At NBA Summit

Polaris Bank CEO, Adekunle Sonola making his presentation as Guest Speaker at Lagos NBA branch Annual Law Dinner which held in Lagos at the weekend.

At the Annual Law Dinner of the Nigerian Bar Association (NBA), Lagos branch, Adekunle Sonola, CEO of Polaris Bank, emphasized the critical need for prioritizing legal policy and reforms to foster continuous economic growth in Nigeria.

Addressing industry leaders, legal luminaries, and High Networth Individuals (HNIs) at the event themed “Favourable Investment and Business Environment Through Legal Policy & Reforms,” Sonola stressed the pivotal role of legal frameworks in shaping conducive environments for investments and business development.

Highlighting the escalating challenges faced by businesses amidst evolving national and global landscapes, Sonola emphasized the necessity for comprehensive legal reforms aligned with modern business demands. He delved into prevalent challenges within the investment and business climate, citing high-interest rates, security concerns, and infrastructure deficits.

Sonola outlined key challenges within the legal system, such as prolonged dispute resolution times, case backlogs, and manual court processes. He addressed concerns about inadequate remuneration for Judges, administrative law obstacles, and the need for improved law enforcement.

Polaris Bank CEO, Adekunle Sonola (right) with the Chairman of the NBA Lagos Dinner Committee, Adeleke Alex-Adedipe during the branch Annual Law Dinner event which held in Lagos at the weekend.

Offering recommendations for comprehensive legal policy and reforms, Sonola proposed a thorough review of laws governing business ownership, streamlined taxation processes, and improved immigration procedures. He emphasized the need for social embeddedness, increased accessibility, and the integration of automation to modernize the legal framework.

Highlighting the perpetual need for legal reforms in alignment with dynamic economic and social landscapes, Sonola concluded on a positive note, stressing the pivotal role of effective legal frameworks in business growth, attracting investments, and fostering Nigeria’s overall economic well-being.

The event also featured the presentation of certificates of recognition to distinguished members of top law firms and current and retired Jurists, acknowledging their significant contributions. The Chairman of Lagos NBA, Olabisi Makanjuola, hailed the tradition of fostering goodwill between the Bar and the Bench through such gatherings.

Appreciation was expressed to Polaris Bank CEO, Adekunle Sonola, for delivering the Annual Dinner lecture, and acknowledgments were made to the event’s sponsors and stakeholders for their immense support, ensuring the success of the Annual Law Dinner.

Chairman of the NBA Lagos Dinner Committee, Adeleke Alex-Adedipe, expressed gratitude to the stakeholders for their support, highlighting the dedication and sacrifice of the Committee members in organizing a successful and well-structured dinner.

Hyacinth Beluchukwu Nwafor

Hyacinth Beluchukwu Nwafor is a seasoned journalist and the CEO/Founder Belch Digital Communications, publishers of Hybrid News Nigeria.

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