Never miss a beat on Africa's legal and regulatory landscape.
On the 19th of February 2024, Honourable Justice Emeka Nwite, sitting at the Federal High Court in Abuja, ordered one of the world’s largest cryptocurrency exchanges, Binance to divulge information about all Nigerians using its trading platform to the Economic Financial C..
On 28 March 2024, the Central Bank of Nigeria revised the minimum capital requirements for banks aimed at strengthening the Nigerian financial system and actualizing the Nigerian Government’s objective to achieve a US$1 trillion economy in gross domestic product terms by ..
The Financial Reporting Council of Nigeria recently released an exposure draft of the Nigerian Not-For-Profit Governance Code, 2023 and called for input from the public on the proposed Code. The proposed Code is the outcome of deliberations of the Technical Working Group ..
On February 28, 2024, President Bola Ahmed Tinubu issued the Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order, 2024. The Order provides for certain fiscal incentives aimed at supporting companies within the Nigerian oil and gas industry. The incent..
In the wake of the recent regulatory developments in the Nigerian market, the Securities and Exchange Commission on 15 March 2024 published its proposed amendments to the existing SEC rules on issuance, offering platforms and custody of digital assets dated 11 May 2..
On March 8, 2024, the Federal Ministry of Interior issued a Press Release announcing the suspension of the implementation of the Expatriate Employment Levy (EEL). The EEL, which was introduced by the Nigerian Government on February 27, 2024, imposes a government-mandated ..
The Expatriate Employment Levy handbook was recently issued by the Ministry of Interior and was launched by the Nigerian president, on 27 February 2024. The Expatriate Employment Levy is a government-mandated contribution imposed on companies that employ expatriate worker..
On December 29, 2023, the Nigerian Electricity Regulatory Commission released the Mini-Grid Regulations, 2023, pursuant to the Electricity Act, 2023. The New Regulation repealed the Mini-Grid Regulations, 2016. The New Regulation introduced certain changes to the operatio..
The Nigerian Data Protection Commission has recently issued a Guidance Notice on the entities that are deemed to be Data Controllers and Data Processors of Major Importance (DCPMIs). The Notice was issued on 14 February 2024 and took effect from that date.
