Review of Minimum Requirements for Commercial, Merchant and Non-Interest Banks by the Central Bank of Nigeria: A Revitalization of the Nigerian Economy?​

Review of Minimum Requirements for Commercial, Merchant and Non-Interest Banks by the Central Bank of Nigeria: A Revitalization of the Nigerian Economy? The Central Bank of Nigeria (CBN) has announced a new policy, as of March 28, 2024, that increases the minimum capital requirements for commercial, merchant, and non-interest banks. This is the first such […]

Nigeria’s Compressed Natural Gas Initiative and the Road to a Million Cars

Nigeria’s Compressed Natural Gas Initiative and the Road to a Million Cars With the recent launch of the Presidential Compressed Natural Gas Initiative (P-CNGi), the Nigerian Government seeks to utilise CNG for transportation and thus targets to launch one million CNG vehicles by 2027. Our Energy Practice Team presents a holistic analysis of the initiative, […]

CONSTITUTIONALITY OF COLLECTION OF VALUE ADDED TAX BY THE FEDERAL GOVERNMENT OF NIGERIA

Constitutionality of collection of value added tax by the Federal Government of Nigeria “Through the lens of some recent landmark decisions, our associate, Anthony Madukwe, examines the constitutionality of some National Assembly legislations on specific taxes as well as the wider conversation around the legality of collection of Value Added Tax by the Federal Government […]

PETROLEUM INDUSTRY ACT; DEVELOPMENTS AND REGULATORY COMPLIANCE ISSUES

Petroleum Industry Act; Developments And Regulatory Compliance Issues We are well into the second year of implementation of the Petroleum Industry Act 2021 (“Act”), and regulatory activities within the walls of the twin regulators – the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority have accelerated. This March comes […]

Evaluating the Validity of Electronic Signatures

Evaluating the Validity of Electronic Signatures “The coronavirus pandemic has brought about the lockdown of numerous regions. A major concern for parties looking to close corporate financing and general commercial transactions during the lockdown and going forward is the delivery of wet ink signature pages of Transaction documents. As a result, parties are having to, […]

Review of Some Key Provisions in the Companies and Allied Matters Act 2020

Review of Some Key Provisions in the Companies and Allied Matters Act 2020 “The Companies and Allied Matters Act 2020 has recently become the extant legislation regulating the registration of business and non-business organisations in Nigeria. In this piece, we highlight some key distinctions between the former and the new legislation which we believe will […]

The Companies and Allied Matters Act 2020 – Reforms From a Finance Perspective

The Companies and Allied Matters Act 2020 – Reforms From a Finance Perspective “The Companies and Allied Matters Act 2020 (New Act) received presidential assent on the 7th of August 2020, thus becoming law. Our article provides a synopsis of some of the changes and novel provisions introduced in the New Act which we believe […]

Covid-19 and its Effect on Financing Transactions in Nigeria: Practical Considerations

Covid – 19 and its Effect on Financing Transactions in Nigeria: Practical Considerations “The coronavirus infectious disease (“Covid-19”) was declared a global pandemic by the World Health Organisation on the 11th of March 2020. However, besides the attending public health crisis brought about by the disease, there are major concerns about a looming global economic […]

The Finance Act 2019 – Highlights of Significant Provisions

The Finance Act 2019 – Highlights of Significant Provisions The Finance Bill 2019, which was presented to the joint sitting of the National Assembly along with the 2020 Appropriation Bill, was signed into law on the 13th of January 2020 by President Muhammadu Buhari, thus becoming the Finance Act (the “Act”). The objectives of the […]