Nigeria: Current Legal Developments in the Investment LandscapeApril 15, 2019
The President of the Federal Republic of Nigeria signed the Federal Competition and Consumer Protection Act into law in the first quarter of 2019 to promote competitive markets in the Nigerian economy and ensure welfare of consumers.
The International Comparative Legal Guide to: Corporate Immigration 2018April 8, 2019
What are the main sources of immigration law in your jurisdiction? The main sources are the Immigration Act, 2015 (the Act) and Immigration Regulations, 2017 (the Regulations). Other sources include the Nigerian Oil and Gas Industry Content Development Act, 2010 (the NOGIC Act).
Federal Government of Nigeria debuts the Road Infrastructure Development & Refurbishment Investment Tax Credit SchemeMarch 20, 2019
Nigeria currently faces a critical infrastructure deficit projected at $3 trillion in the next 26 years. With an average annual budget of circa $29 billion in the last 10 years, of which figure only about 30% was allocated to capital expenditure, the Nigerian Government may not be able to singularly plug the infrastructure deficit in decades.
Data Protection in Nigeria: Overview of the 2019 Nigerian Data Protection Regulation Issued by NITDAMarch 18, 2019
On 25th of January 2019 the National Information Technology Development Agency (NITDA) issued its latest regulation on data protection - the Nigerian Data Protection Regulation 2019 (“the 2019 Regulation”).
SEC’s Regulatory Oversight on Public Companies: An Appraisal of Securities and Exchange Commission v. Big Treat Plc & ORS.March 18, 2019
The Court of Appeal, Lagos Division, recently restated the powers of the Securities and Exchange Commission “SEC” to intervene in the management and control of Public Companies to protect the interest of investors and maintain a free, fair, efficient and transparent capital market. This was contained in the decision of the appellate Court in Securities and Exchange Commission v. Big Treat Plc & Ors. (2019) LPELR-46520(CA).
2018: Defining Legal MomentsMarch 15, 2019
As a precursor to the beginning of an election cycle, there was pressure on the part of the Nigerian Government to ensure that the macroeconomic fundamentals in 2018 would be better than 2017 given that the election would be a direct referendum on its performance.
Key Takeaways from the Stakeholders Engagement Session on Stamp Duties and Perfection of Security in Lagos StateDecember 4, 2018
The inaugural session of the Jackson, Etti & Edu Stakeholder Engagement Series held on the 2nd November 2018. The theme of this year’s session is ‘’Stamp Duties and Perfection of Security: Contending Issues and Contemporary Solutions”.
CBN’s Differentiated Cash Reserves Requirement and Corporate Bond Funding Program: A Game Changer in Private Sector Lending?September 27, 2018
Recently, the Central Bank of Nigeria (CBN) issued guidelines (Guideline) for accessing its Real Sector Support Facility (RSSF) comprising the Differentiated Cash Reserves Requirement (DCRR) Regime and the Corporate Bond (CB) Funding Program. This innovative initiative forms part of the macro prudential tools being deployed by CBN under its expansionary monetary policy drive to stimulate affordable long-term credit to critical sectors of the Nigerian economy.
The ‘NIGERIA AIR’ Domain Name Saga – A case of a Stitch in Time…?September 3, 2018
When Senator Hadi Sirika, Honourable Minister of State for Aviation, said that the long-lost dreams of Nigeria Airways were restored with the unveiling of the new national flag carrier/airline little did he know that the headlines would be something that appeared ‘small’ yet had an ability to generate such furore.
Should Ad Valorem Stamp Duties Apply to Loan Agreements? A Legal AnalysisAugust 1, 2018
Sometime in the second half of year 2016, the Federal Inland Revenue Service (“FIRS”) issued a notice titled “Establishment of Stamp Duties Offices in all States of the Federation and the FCT”, which contained a list of instruments, items and applicable stamp duty rates chargeable by the FIRS.
Is The Cybersecurity Levy A Veiled Cybertax?July 12, 2018
The Central Bank of Nigeria (CBN), pursuant to the Cybercrimes (Prohibition, Prevention etc) Act (2015) (the ‘Cybercrimes Act), recently released a Circular dated 25th June, 2018 directing all Mobile Money Operators (MMOs) and other affected Payment Service Providers (PSPs) to comply with the statutory provision for the collection and remittance of the 0.005 levy imposed on electronic transactions by July 1, 2018.