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ABSTRACT
The concept of trusts, while firmly established in Nigerian law through its historical ties to English common law, remains a complex and often misunderstood legal mechanism. This complexity arises from the unique tripartite relationship inherent in trusts, where a settlor entrusts property to a trustee, who then holds and manages it for the benefit of designated beneficiaries. This work examine the concept of trusts. Additionally, the research explores the broader legal framework that governs the administration of trusts in Nigeria, encompassing relevant statutes, case law, and regulatory mechanisms. To achieve these objectives, a doctrinal research methodology was adopted. Furthermore, the research examines pertinent judicial decisions that have shaped the interpretation and application of trust law in Nigeria. Academic commentary and scholarly works was consulted to provide a well-rounded understanding of the subject matter. This work recommends that the Nigerian legislature should consider comprehensive reforms to the existing laws governing trusts, taking into account international best practices and modern trends in the concept of trust. And concludes that theexisting legal framework regulating trust in Nigeria is not comprehensive as the relationship between trustee and trust property in Nigeria is a critical one, underpinned by a complex interplay of statutory provision, equitable principles and judicial interpretations.
