A CRITICAL OVERVIEW OF THE DOCTRINE OF TRUST AND ITS IMPLICATIONS IN NIGERIA

Abstract

The doctrine of trust is a fundamental concept in Nigerian law, governing relationships between individuals, families, and communities. However, despite its significance, the doctrine of trust remains poorly understood and often misapplied. This has led to confusion, controversy, and inconsistent application of trust principles in Nigerian courts. This research aims to bridge the knowledge gap in the existing literature on the doctrine of trust in Nigeria. The study seeks to provide a comprehensive and critical overview of the doctrine, exploring its conceptual underpinnings, historical development, and practical implications. Specifically, the research investigates the challenges and complexities surrounding the application of the doctrine of trust in Nigeria. The study reveals significant tensions between the traditional English law conception of trust and the unique socio-cultural context of Nigeria. Key findings highlight issues of enforcement, accountability, and cultural compatibility, which undermine the effective operation of trusts in Nigeria. The study also identifies inconsistencies in the application of trust principles by Nigerian courts, leading to uncertainty and unpredictability. This study employs a doctrinal research methodology, involving a qualitative analysis of relevant statutes, case law, and academic literature. The research also draws on comparative analysis with other common law jurisdictions to identify best practices and areas for reform. The study concludes that the doctrine of trust in Nigeria requires a more nuanced understanding of the complex interplay between law, culture, and society. The research highlights the need for reform and development of best practices to ensure that the doctrine of trust operates effectively and justly in Nigeria. The study recommends the following reforms and best practices: clarification of the legal framework governing trusts in Nigeria; establishment of clear guidelines for the creation, management, and enforcement of trusts; development of mechanisms for ensuring accountability and transparency in trust administration; recognition of the cultural and socio-economic context of Nigeria in trust law and practice; and provision for education and awareness on trust law and administration for stakeholders.