Significant Changes Of The Arbitration & Mediation Bill 2022
The Senate on the 10th of May 2022 passed the Arbitration and Mediation bill, below we have highlighted some novel areas introduced by the bill for your digest. Click
Licenses In The Nigeria Mining Sector
Mining sectors continue to dominate among economic areas attracting foreign investors, most commonly challenged with licensing and regulatory framework. The aim of this article is to highlight mining licences
Data Subject’s Right to Lodge Compliant
Do you know that as a Data Subject you have the right to make reports to the relevant authority where your rights are being infringed on? In this article
CAN A LIMITED LIABILITY COMPANY PURCHASE ITS SHARES IN NIGERIA?
Do you know that a Company limited by shares can buy back its own shares upon fulfilment of certain conditions under the Companies and Allied Matters Act, 2020? For
New Rules on Issuance, Offering Platforms And Custody of Digital Assets
Recall that on 14 September 2020 the Securities and Exchange Commission “SEC” released a Statement on Digital Assets and their Classification and Treatment to regulate crypto-token or crypto-coin investments detailed in our
Energy Update: NNPC Moves to Stop $1.6bn Seplat, Exxonmobil Deal with Major Counter-Offer
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Summary Of The Proposed Companies And Allied Matters Act Amendment Bill
The National Assembly has proposed an amendment to the Companies and Allied Matters Act 2020. The purpose of the proposed amendment is to strengthen the operations of NGOs in Nigeria and their compliance with the provision of the Companies and Allied Matters Act. Read
DATA PROTECTION AND THE IMPLICATION OF DATA BREACH
Everyday, personal data or information are shared, these data reveal sensitive personal information that can be exploited. It is therefore important to protect these data and regulate the way data
Court of Appeal Rules 2021
The amended Court of Appeal Rules 2021 comes in time to suit the changing clime our Judicial system in Nigeria is going through. We have highlighted the salient changes in
ATTORNEY GENERAL OF RIVERS STATE V. FEDERAL INLAND REVENUE SERVICE & A.G FEDERATION: THE COURT’S DECISION
The Federal High Court recently ruled that the Federal Government is not empowered to make tax laws in relation to VAT, withholding tax, education tax and technology tax . The
Africa Energy Update
ZIMBABWE: Solgas Energy commissions its 5 MWp Cross Mabale solar power plant Renewable energy producer Solgas Energy is commissioning its Cross Mabale solar power plant in the northern Matabeleland province.
THE NIGERIAN PETROLEUM INDUSTRY ACT 2021
The passage and signing of the highly anticipated Petroleum Industry Act is a landmark in the oil and gas industry. The Act provides legal, governance, regulatory and fiscal framework for
COMPENDIUM ON BANKING AND PAYMENT SYSTEM FRAMEWORKS,CIRCULARS AND GUIDELINES IN NIGERIA
The Fintech Association of Nigeria in collaboration with TONBOFA Law Practice has published a First Volume Compendium of Fintech regulations. It will serve as a point of reference to all
STEPS TO MERGERS AND ACQUISITION IN NIGERIA
Many businesses are facing financial difficulties due to COVID-19 and have sought various means of staying in business, one of which is Mergers and Acquisition. Outlined in this article are
FEDERAL HIGH COURT PRACTICE DIRECTION ON FEDERAL INLAND REVENUE SERVICES (FIRS) 2021
The Federal High Court issues Practice Direction for Determination of Tax Disputes See below for more on the provisions of the Practice direction. Read more
SUMMARY OF THE NATIONAL PENSION COMMISSION NOTICE ON COMPLIANCE WITH THE GUIDELINE ON GROUP LIFE INSURANCE POLICY FOR EMPLOYEE
The Nigerian National Pension Commission has mandated employers to whom the Pension Act relates to comply with the Guideline on Group Life Insurance Policy (GLIP) for Employees on or before
Simple Agreement for Future Equity (SAFE)
Entrepreneurs have a myriad of options for raising capital for their start-ups. Among these options is the Simple Agreement for Future Equity (SAFE). SAFE has been proven to be simple
SEC PROPOSED RULE ON ROBO-ADVISORY SERVICES
By the ''Proposed Rule On Robo-Advisory Services''released by SEC Nigeria, Robots may now use an interactive platform to provide investment advice services to clients using innovative technology. Read more
SUMMARY OF GUIDELINE ON THE TAX TREATMENT OF NON-GOVERNMENTAL ORGANISATIONS
According to the Nigerian FIRS Guideline on Tax treatment of Non-governmental organisation, NGOs are subject to a number of taxes such as income tax, Capital Gains Tax etc. Read more
Summary Of Provision Of The Significant Economic Order And Compliance Steps
According to the Nigerian Finance Act, foreign companies which provide some specific services to Nigerians or persons resident in Nigeria may be liable to pay Companies Income Tax if they
