June 2020

Regulators The primary legislation governing telecommunications in Nigeria is the Nigerian Communications (NCC) Act 2003, complemented by NCC regulations, guidelines and codes, for example the NCC recently released the Nigerian National Broadband Plan (NNBP) 2020-2025 designed to provide: (a) deliver data download speeds across Nigeria – a minimum of 25Mbps in urban areas, and 10Mbps

The Pandemic Business Dispute Resolution Service which offers facilitated negotiation, low-cost arbitration and mediation has been jointly created by the Chartered Institute of Arbitrators (CIArb) the leading global professional organisation for Arbitration as well as other forms of dispute resolution and the Centre for Effective Dispute Resolution (CEDR), known internationally for its mediation work. Businesses

The Value added Tax Act 1993 provides for the payment of tax by non-resident foreign companies that carry on business in Nigeria by insisting that such companies register with the board for the purposes of tax, using the address of the person it has a subsisting contract as its addresses for the purpose of correspondence

A Management Buyout (MBO) is an acquisition of a business by its management team of the controlling shares of the company usually (but not always) in coordination with an external party financing such as a credited lender or a Private Equity fund. Who To Consider A Management Buy-Out  An owner or a vendor buy out

The adverse economic effects of the Covid-19 pandemic have resulted in companies considering various options to remain a going concern. One of these ways is forming a partnership. A partnership is an agreement between two or more persons with the same objectives to manage and operate a business for profit making. Partnerships in Nigeria are

A group of companies, partnerships, joint-ventures, affiliated companies may conduct transactions amongst themselves. Many countries, like Nigeria, have adopted transfer pricing mechanisms to ensure such transactions are done at arm’s length. Companies need to pay more attention to such transactions to avoid falling short of transfer pricing requirements and being taxed higher than they planned. 

DO YOU KNOW: The Lagos State Internal Revenue Service has issued a public notice further extending the deadline of filing of annual tax returns for individual taxpayers including self- employed persons from the 1st to 30th of June 2020. This further extension as done by the Service is in line with the effort of the

Introduction It is no longer news that COVID-19 is going to change the way companies, Small and Medium businesses, individuals, and governments at all levels engage in business. Due to social distancing, a lot of reliance would be placed on the internet, as most business transactions would be conducted and concluded online, with little or no physical interaction between contracting parties.