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On March 17, 2023, an Act to alter certain provisions of the 1999 Constitution of the Federal Republic of Nigeria (the “1999 Constitution”), to allow constituent states within the Nigerian federation (the “States”) to generate, transmit, and distribute electricity in area..
On the 17th of March 2023, the President of the Federal Republic of Nigeria signed the copyright bill into law, as projected in our 2022 IP Wrap-up and 2023 Forward publication. This assent marks the end of the 35-year-old tenure of the old Copyright Act and signals..
President Muhammadu Buhari has signed into law the Copyright Bill, which is geared towards protecting the rights of authors of original works. This development in Nigeria’s creative industry would ensure that authors receive the proper recognition and financial reward for..
By a Circular dated 7th March 2023, the Central Bank of Nigeria (CBN) released the “Operational Guidelines for Open Banking in Nigeria” (‘the Guidelines’). The Guidelines set out rules for sharing the data/information of customers between part..
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.
The Business Facilitation (Miscellaneous Provisions) Act (the “Act”) became law when, on 14 February 2023, the President of the Federal Republic of Nigeria, Muhammadu Buhari, signed the bill passed by the Senate in December 2022. The Act is a legislative brainchild of the..
As part of the commitments of the Federal Government of Nigeria to continuously create an enabling environment for doing business, on February 13, 2023, the Business Facilitation Bill 2022 (also known as the Omnibus Bill) was signed into law. The main objective of the Act..
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..
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.
