Mr Ogbankwa said LSN was established to keep the legal practice in Nigeria in line with international best practices.
Another professional association of lawyers called to the Nigerian Bar has been established.
The association known as the Law Society of Nigeria (LSN) is led by Kunle Ogunba (SAN).
This was contained in a statement issued on Sunday by the National Publicity Secretary of LSN, Douglas Ogbankwa.
The News Agency of Nigeria (NAN) reports that legal practitioners in Nigeria had been regulated solely under the umbrella of the Nigerian Bar Association (NBA) founded in 1933.
Mr Ogbankwa said in the statement that LSN emerged in a bid to redefine the ideas of the founding fathers of the legal profession in Nigeria
Mr Ogbankwa referred to the LSN as a "new sheriff in town".
He described the legal profession in Nigeria as having a chequered history spanning from "the sublime to the ridiculous".
Mr Ogbankwa said LSN was established to keep the legal practice in Nigeria in line with international best practices.
"In redefining the ideas of the founding fathers of the legal profession in Nigeria, the Law Society of Nigeria, a new professional association of lawyers called to the Nigerian Bar, has been established.
"This is in keeping with International best practices, which allow for an alternative, to ensure that lawyers thrive within the realm of those they have shared values with," he said.
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According to Mr Ogbankwa, in a letter dated 24 Oct, the pro tem National Executive Committee of LSN notified the Body of Benchers of the association's existence and its national officers.
"The LSN, with membership, spread all over Nigeria, exists to empower the legal profession with quality member services, facilitate access to justice, maintain and advance the cause of justice, and promote the rule of law through advocacy and good governance," he stated.
He listed the executives of LSN as follows: Ogunba (SAN), President: Nimi Walson-Jack, Vice President; Mr Abdulqadir Alhaji Sani, Secretary; Olasupo Ojo, Welfare Secretary; and Mrs Chioma Ferguson, Treasurer.
Other executive members are Douglas Ogbankwa, Publicity Secretary; Zara Umar Yakubu, Financial Secretary; Alice Ogaku Awonugba, Assistant Secretary; and Hassan Sheriff, Assistant Publicity Secretary.
"It is on the verge of uncommon and necessary reforms in our legal annals and the ageless egalitarian posture on the freedom to lawfully associate, that the LSN also writes your distinguished body, introducing herself," he stated.
