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Never miss a beat on Africa's legal and regulatory landscape.

Sal & Caldeira Advogados

Approval of annual accounts under the New Commercial Code

We hereby inform the business community and other interested parties that under the new Commercial Code, approved by Decree-Law no. 1/2022, of 25 May (the “New CCom”), 2 (two) important changes were introduced in respect of the requirements fo..

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Jackson, Etti & Edu

The Franchising (Establishment) Bill 2022

On Tuesday, the 24th of January 2023, the Senate passed the Franchising (Establishment)Bill. The Bill seeks to create a legal framework for the operation of franchising (and other related matters) in Nigeria, in line with global best practices.

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Kaplan & Stratton

The Draft Privatization Bill 2023

We are writing to update you on the recent publication of the draft Privatization Bill which was made available for public participation. The bill, if passed, will replace the current P rivatization Act, 2005. The objective of the bill is to provide a revised regulatory f..

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ǼLEX

Trading in international stocks and securities with Fintechs – the present state of play

There has been a lot of interest in the activities of investment technology companies (investTech) as some of them have been utilising platforms offering securities of foreign companies to investors in Nigeria. However, these platforms have had to contend with regulators ..

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Sal & Caldeira Advogados

The General Assembly meetings of the Commercial Companies by Electronic Means

Dynamics is pointed out as one of the characteristics of Commercial and Corporate Law due to the pressing need that economic agents have to find new solutions to continue developing their business activities, circumventing possible barriers and making the activity i..

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ǼLEX

Exploring the NGX Tech Board and how it can impact on the Tech Startups

As a means of fundraising, tech startups in Africa have historically preferred listing on foreign stock exchanges, like the NASDAQ, NYSE, or the LSE. This trend represents a form of capital flight that has denied the local investing public in African markets where they op..

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ǼLEX

CAMA 2020 | Drawing the Curtains on Unissued Shares of a Company

Under Companies and Allied Matters Act (“CAMA”) 1990, companies had authorized share capital consisting of issued share capital and unissued share capital (the “Old Regime”). However, CAMA 2020 recognizes only issued share capital without expressly stating what should be ..

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Sal & Caldeira Advogados

The “De Facto Director” under the New Commercial Code

The new Commercial Code, approved by Decree-Law No. 1/2022 of the 25th of May (the "New ComC"), introduced the figure of the “De Facto Director”, thus making liable those who, not being appointed directors, acts as such.

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Udo Udoma & Belo-Osagie

Client Update on the Start-Up Act

Nigeria Startup Act, 2022 is part of the concerted efforts by the Federal
Government to promote, harness and provide stability to the 
startup ecosystem in Nigeria. Nigeria’s startup ecosystem was ranked as the top 
three most advanced ecosystems in Afr..

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