2020

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. […]

The Honorable Minister of Finance, Budget and National Planning on 3rd February 2020 signed into law the Value Added Tax Act Modification Order 2020 (The Order). The Order contains a modification of the First Schedule of the Value Added Tax Act (VATA) containing the goods and services exempted from taxation under the VATA, extends the […]

With investors’ confidence in traditional markets waning in the wake of COVID-19, there is the question whether investments in virtual currencies would rise as an alternative. In Africa and Nigeria, the public awareness of virtual currency is certainly growing, but are the Nigerian regulators considering more oversight of the sector for investors’ protection? Nigeria Warns […]

Cybercrime, an unpredictable risk to all business is fast becoming rampant seeing that a lot of business now have online presence largely as a result of the COVID -19 global pandemic. Some common cybercrimes include malware, keylogging, phishing, hacking, bank/e-commerce fraud resulting in reputational damage or business interruption. In effect Cybercrime is no exempt of […]

The global debate in dealing with Covid-19 has been Lives vs Livelihood. As countries begin to ease lockdown restrictions and embrace external social distancing measures, the consensus is that lives and livelihood are not mutually exclusive in living with Covid-19. Governments globally have published rules the public and employers must adhere to in returning to […]

The world is relying on digital platforms to survive. A company/person could be found liable in damages to a wider number of people that rely on its digital services. We have outlined a few cases involving some aspects of digital platforms to help you mitigate your risks as you embrace technology in all your operations […]

Green bonds encourage sustainability and support climate-related or other types of special environmental projects. The distinct characteristic of a green bond is that the proceeds are used exclusively to finance or re-finance environment-friendly projects, such as clean water and renewable energy. Green Bond Principles (GBP): In Nigeria, the National Green Bond Guidelines and Principles are issued by the […]

 The inability of companies to pay their debts may give rise to occasions of creditors exercising their statutory powers to declare the company insolvent and unable to pay debts. In some countries, due to the Covid-19 business constraints, companies unable to pay their debts are taking the first step in arranging their debts by applying for the courts to assist them in reaching […]

The world is discovering in the wake of the Covid-19 pandemic “the Pandemic” that investing in people’s social needs is mandatory for every economy. With nations’ healthcare systems being overwhelmed by the number of Covid-19 patients, it is certain that countries will prioritize investments in healthcare, as well as in availability of water and other […]

The COVID – 19 pandemic has made it necessary to work remotely using e-channels. This has resulted in transactions/contracts being executed using e-signatures, as businesses must go on. Many businesses are hesitant to embrace this option, but it is an option that is here to stay with business transactions. In Nigeria, Section 93 (2) and […]