September 2020

NERC MAKES MYTO COST-REFLECTIVE Introduction Further to the authority given under Section 76 of the EPSR (Electric Power Sector Reform) Act 2005, the Nigerian Electricity Regulatory Commission (NERC or the Commission) established a policy for determining electricity tariff in the Nigerian Electricity Supply Industry (NESI) and subsequently issued a Tariff Order called the Multi-Year Tariff

 VAT on Leased Properties In Ess-ay Holdings Limited v. FIRS (Federal Inland Revenue Services), the Tax Appeal Tribunal “TAT”  ruled  that under the VAT Act, VAT is paid on the supply of goods and services and a lease is neither  a good or service and therefore not subject to VAT.  In reaching its decision, the

In line with the powers conferred on the Securities and Exchange Commission “SEC” “the Commission” by Section 13 of the Investment and Securities Act, 2007, the Commission recently issued a Statement on Digital Assets And Their Classification and Treatment “the Statement” to now regulate crypto-token or crypto-coin investments when the character of the investments qualifies as securities transactions.

One of the biggest problems faced by the Insurance Industry in Nigeria is lack of awareness. Most people are not aware of the existence of Insurance neither do they know its relevance. There are certain insurance policies that the Federal Government of Nigeria has made compulsory for every individual and business in the country to

CBN ISSUES REVISED GUIDELINES FOR PAYMENT SERVICE BANKS On 27 August 2020, The Central Bank of Nigeria (CBN) released the revised Guidelines for Licensing and Regulation of Payment Service Banks (PSBs) in Nigeria ( the Revised Guidelines) to update the 2018 Guidelines for Licensing and Regulation of Payment Service Banks (PSBs) in Nigeria (the 2018