AN EXAMINATION OF THE NATURE OF TRUST UNDER THE NIGERIAN LAND USE ACT 1978

Abstract

The idea of trust as a legal concept emanated from conscience, as in the ordinary sense, trust refers to “confidence reposed in another”. In other words, the trust concept enables a property owner who intends to make a gift of the property to transfer his interest in the property to another person to hold the property for the benefit of some other person who is the beneficiary of the gift. The object of this paper is to consider whether such fiduciary relationship exists in the “trust” purportedly created under the Nigeria Land Act. The paper considers whether the nature of interest or rights of the beneficiaries created under the Land Use Act are the same with the rights of the beneficiaries under the English trust concept. It also examines whether or not the Governor who is named the “trustee” under the Act could be compelled to act just as the trustee under the English Trust concept could be so compelled to deal with the trust property in accordance with the terms of the trust and for the benefits of the beneficiaries. Further, the paper considers whether or not the beneficiaries created under the Act are ascertainable class as envisaged under the English trust doctrine.