— Awards Celebrate Lawyers Practicing Diversification While Excelling in Legal Practice
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The Lawyers In Business Institute (LIBI) has called on members of the legal profession to develop at least one additional income stream outside core law practice, describing lawyers as “business men” who are indeed in business.
Chief Emeka Silas Agbara, Administrator of LIBI and Secretary of the Nigerian Bar Association Legal Entrepreneurship Committee, made the call on Monday, December 16, 2025, at the 2025 Christmas Cocktail and Award Night held at the NBA House, Abuja.
The event, organized by LIBI in partnership with the NBA Legal Entrepreneurship Committee, was held in honour of Sir Babatunde Ogala, SAN, OFR.
In attendance were the Guest of Honour, Dr. Kingsley Tochukwu Udeh, SAN (Minister for Innovation, Science and Technology); Chairman of the NBA Legal Entrepreneurship Committee, Hon. Mohammed Kudu Ndayako, SAN; and the Alternate Chairman, Otunba Olumide Olaiya, among other senior advocates, benchers, judges, and dignitaries.
In his welcome address, Chief Agbara explained that the Lawyers In Business Institute strives to encourage, teach, advocate and create platforms that enable multiple streams of income for mostly members of the legal profession and other professionals.
“So we can practice with greater integrity,” he stated.
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He disclosed that since 2019, LIBI has developed and implemented several schemes, including:
- IT Trainings for Remote Jobs
- Armed Escort Scheme
- Micro-financing and Thrift (Asusu)
- Car Swap & Flip Scheme (in partnership with Cars45)
- Agro-Biz & Food-Bank Scheme
- Health Insurance under the NHIS
- Mass-Housing & Land-Banking Scheme
According to Chief Agbara, these schemes point to areas where members of the profession are to look for opportunities of more income streams.
“It is our most humble view and we hold it strongly, that lawyers are ‘business men’ and are indeed in business; thus the name ‘Lawyers in Business,'” he declared.
He noted that this is a fact that most “conservative” seniors, who are themselves directors of multiple companies, either deny or cover, and most juniors are either too uncertain to accept it or totally ignorant of it.
Chief Agbara explained that events like the cocktail and award night are meant to throw more light on both the fact and the systematic approach to it that will maintain the prestige of the noble profession while expanding income streams.
The theme for this year’s event is: “A Lawyer with Multiple Income Streams and the Remuneration Order: A Case for Diversification and Innovation, in the Legal Profession.”
The Keynote Speaker was the Chairman of the NBA Remuneration Committee, High Chief Emeka Obegolu, SAN, PhD, who was ably represented by Mr. Yakubu Philemon, SAN.
Chief Agbara recalled that last year’s theme was: “A Lawyer in Business and the RPC: A Protective, Not Restrictive Approach to Interpretation.”
Professor Ernest Ojukwu, SAN, who proudly takes ownership of the draftmanship of the Rules of Professional Conduct, was the keynote speaker and “did absolute justice to the topic.”
“We are determined and resolute to the course of encouraging and guiding each member of the legal profession to have at least one more income stream outside core law practice,” Chief Agbara emphasized.
“The way to go is the way of entrepreneurship! The way of owning businesses with registered limited companies, which have separate legal personalities, distinct from our names on the revered Roll of Legal Practitioners,” he said, citing the case of Salomon v A Salomon & Co Ltd [1896] UKHL 1, [1897] AC 22.
Chief Agbara disclosed that the Nigerian Bar Association, under the proactive leadership of Mazi Afam Josiah Osigwe, SAN, has set up the NBA Legal Entrepreneurship Committee, with Hon. Mohammed Ndayako, SAN, as Chairman, Otunba Olumide Olaiya as Alternate Chairman, and himself as Secretary.
“The mandate of this committee, in simple terms, is to mainstream entrepreneurship in the legal profession,” he explained.
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“This event is in partnership with that committee of the NBA and we are proudly associated!”
Chief Agbara stated that the awards presented at the event are intended to celebrate lawyers who are practicing and/or encouraging the “golden gospel of diversification” while also excelling as legal practitioners.
“A flip through their profiles on the brochure gives an idea about their persons and leaves one or two inspirations,” he said.
The LIBI Administrator urged members of the legal profession to “seat, enjoy and learn more” from the initiatives being promoted by the institute.
He also announced a 5% Christmas discount on LIBI’s Lawyers Mass-Housing & Land-Banking Scheme and other schemes for those who join their WhatsApp group.
The event represents a growing recognition within the Nigerian legal profession that lawyers need to diversify their income sources beyond traditional legal practice.
With the backing of the NBA under Mazi Afam Osigwe’s leadership, the Legal Entrepreneurship Committee and LIBI are working to change the conservative mindset that has traditionally separated legal practice from business ventures.
The various schemes introduced by LIBI since 2019 demonstrate practical pathways for lawyers to generate additional income while maintaining the integrity and prestige of the legal profession.
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