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OALP

Money Laundering Prevention and Prohibition Act 2022: Enhanced Anti Money Laundering Regime in Nigeria

The passage of the Money Laundering (Prevention and Prohibition) Act, 2022 – which repealed the Money Laundering (Prohibition) Act, No. 11, 2011 – has introduced significant changes to the legal and institutional framework for the prevention and prohibition of money..

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ǼLEX

A Review of the Contractor's Power

When project owners refuse to pay contractors or have denied them access to the construction sites, contractors react in several ways. One such reaction is to suspend further performance of works until payment is made or access to the site is given. However, the contracto..

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OALP

The Proceeds of Crime (Recovery and Management) Act, 2022: Revitalizing Nigeria’s Anti-Graft War

On 12 May 2022 the Proceeds of Crime (Recovery and Management) Act came into effect. Drawing from local experience in the anti-graft war, and noticeably influenced by international instruments such as the UN Convention on Corruption, the..

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Aluko & Oyebode

Assent of New Laws on Anti-Money Laundering/ Combatting of Financing of Terrorism in Nigeria

On 12 May 2022, the President of the Federal Republic of Nigeria, Muhammadu Buhari as part of the efforts to strengthen the AML/CFT regime in Nigeria signed into law the following Bills; (i) Money Laundering (Prevention and Prohibition) Bill, 2022 (ii) Terrorism (Preventi..

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ǼLEX

Trademark Infringement in Nigeria – Analysing the decisions in Fan Milk v. Mandarin Hotels

The question of what constitutes trademark infringement in Nigeria is fundamental in the protection of intellectual property rights. On 10th March 2022, the Federal High Court sitting in Abuja delivered two judgements and established cer..

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ǼLEX

Key innovations in Nigeria's Arbitration and Mediation Bill

On Tuesday, 10 May 2022 the Nigerian Senate passed the Arbitration and Mediation Bill (“the Bill”), which will repeal the Arbitration and Conciliation Act Chapter A.18, Laws of the Federation of Nigeria, 2004 which became law on 14 March 1988. The Bill now awaits the asse..

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G. Elias & Co.

Changing Regulatory Landscape for Mergers and Acquisitions Transactions in Nigeria

This article examines some of the recent changes to the regulatory regime for, and the impact on, mergers ..

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Templars

The Money Laundering Bill 2022

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..

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ǼLEX

The Metaverse – Considering Trademarks and Brand Protection for Virtual Goods & Services

While there is a lot of interest and fascination surrounding existing digital assets, like cryptocurrencies and non-fungible tokens (“NFTs”), many individuals and corporations are ramping up their efforts to market and provide virtual goods and services in the Metaverse.<..

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