Never miss a beat on Africa's legal and regulatory landscape.
Section 119 of the Companies and Allied Matters Act (“CAMA”) 2020, in conjunction with the Persons with Significant Control Regulations (“PSC Regulations”) 2022, requires companies, Limited Liability Partnerships (“LLPs”), and by extension, foreign exempted companies unde..
In a recent update, the Federal Inland Revenue Service (“FIRS”) officially communicated the revised effective date for the implementation of the Finance Act 2023 ( “the Act”). This update by the FIRS follows the deferment of the commencement of the Act by the Finance Act ..
Prior to 2005, the Nigerian power sector was largely government-owned. With the enactment of the Electric Power Sector Reform Act in 2005 (“EPSRA”), this monopoly was unbundled and the sector was reformed with the privatisation of the generation and distribution segments ..
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..
The FIRS has recently issued letters to owners, and in some cases, charterers of oil tankers used to export crude oil and LNG from Nigeria in connection with back taxes from 2010-2019. It appears that the letters were directed mainly at tanker owners and charterers that d..
As highlighted in the publication – An Overview of The Nigeria Data Protection Act 2023, one of the key provisions of the Nigeria Data Protection Act (NDPA or Act) is the introduction of a new classification of data controllers and processors i.e., “Data Controllers and D..
On 20 June 2023, the Central Bank of Nigeria (CBN) issued the CBN (Customer Due Diligence) Regulation 2023 (the CDD Regulations). This regulatory initiative is aimed at assisting financial institutions to comply with customer due diligence measures, required by exis..
On 12 June 2023, the Nigeria Data Protection Act, 2023 (“the Act”) was signed into law by President Bola Ahmed Tinubu. The Act provides a legal framework for the protection of personal information, processing and transfer of personal information and regulatory obligations..
The Tanzanian Minister for Finance and Planning, Hon. Mwigulu Lameck Nchemba, delivered the highly anticipated National Budget Speech on 15 June 2023 with the theme ‘Accelerating Economic Recovery, Climate Change Adaptation Mitigation and Enhancing Productive Sector..
