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On 12 June 2023, President Bola Ahmed Tinubu signed the Evidence (Amendment) Act 2023 into law (“the Act” or “Amendment Act”). The Act does not repeal the Evidence Act 2011 (“the Principal Act”) but introduces key innovations to bring the Principal Act in line with global..
This designation indicates increased monitoring by FATF as both countries actively work to address strategic deficiencies in combating money laundering, terrorist financing, and proliferation financing.
On the 24th of February 2023, The Central Bank of Nigeria (CBN) issued a circular announcing changes to the tenure of executive and non-executive directors in the Nigerian banking industry.
On 12 January 2023, the Central Bank of Nigeria (“CBN”) issued its Guidance on Ultimate Beneficial Owners of Legal Persons and Legal Arrangements (“the Guidance”). The Guidance was developed by the CBN in furtherance of its 2022 anti-money laundering and anti-terrorism fi..
The legal framework for single member private companies was one of the major reforms introduced by the Companies and Allied Matters Act 2020 (CAMA). In principle, this corporate structure allows for the formation, management, and operation of a private company, by a singl..
Taxation is not just a tool to generate revenue for the government. It is also deployed to encourage businesses, fight social vices, lift majority of the citizenry out of poverty, and, overall, balance social and economic needs of the society. When a country focuses its a..
The internet has simplified communication and eradicated distance; however, it has also brought its own challenges. While the generation of remote income has expanded to continents where companies have neither presence nor jurisdiction, the controversy of digital ta..
The Nigerian Senate, on 16th March 2022, passed the Money Laundering (Prevention & Prohibition) Bill, 2022 (the “Bill”). The Bill aims to abolish the Money Laundering (Prohibiti..
Online streaming has become a globally accepted means of accessing movies, shows and other video related content. This wide acceptance was spiralled by the Covid-19 pandemic which forced consumers to ..
