CRITICAL ANALYSIS OF THE PRINCIPLES OF CUSTOMARY LAW OF TRUSTS IN NIGERIA AND ENGLISH LAW OF TRUST PRINCIPLES: COMPARATIVE ANALYSIS

ABSTRACT The argument that the equitable concept of trust is alien to customary law subsists. It is indeed, a will o‟ the wisp to dogmatically decline the statement when the point of discourse is the English concept of trust in its entirety. No doubt, English Law of trust has distinct principles. However, the fact remains that the underlying philosophy of „trust-beneficiary‟ relationship exists both under the English Law and the customary laws of indigenous traditional societies. The English Law of trusts was formally received into Nigeria legal system through various statutory enactments. However, the practice of trust under customary law has been in existence in the various traditional communities in Nigeria before the advent of colonialism. The peculiarities of such practices, though not as fully developed as the modern principles, testify to the ingenuity of certain legal components of trust under customary law. The aim of this research is to critically peruse the core of the law of trusts under both customary law and English law. Effort was made to contrast the realities of both systems and their concomitant similarities. The research submitted that, trusts, as it operates in Nigeria is presently an intermingling of both English law and traditional practices. The research further proffered some key recommendations to ameliorate the present practices of trust in Nigeria.