Public and Private companies can now have their meetings virtually! The Business Facilitation (Miscellaneous) Act 2022 and the Companies and Allied Matters Act 2020 have recognised virtual meetings for both public and private companies in Nigeria. Companies can validly hold its meeting virtually so long as it is in line with the company's articles.
This Article sheds the spotlight on parts III and IV of the NDPA Act. These salient provisions explain the fiscal and labour resources required for the Commission to effectively carry out its duties. Part III outlines the criteria for appointment and the length of term in office for commission members, while Part IV elaborates
Data privacy relates to the right of a person to determine for themselves when, how, and to what extent their personal information is shared with or communicated to others and to ensure that the handling of their personal data follows data protection laws, regulations, and general privacy best practices. In today's digital age, where significant volumes of
The Corporate Affairs Commission ("the CAC") earmarked 100,000 registered companies for delisting for failure to file annual returns in the last 10 years. What is annual returns and when should annual returns be filed? Click here to find out
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 here for more #Arbitrationlaw #Arbitrationbill2022 #Senatebills #Nigerianbills #Tonbofalaw #Tonbofawrites
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 in Nigeria with key regulatory and fiscal provisions. Click for more #Mining in Nigeria #Mining Licenses #Fiscal Provisions #Nigeria Mining Laws #TONBOFA
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 we highlight the right of a Data Subject to make reports vis a vis the Sokoloan Saga. Click here for more Tonbofalaw |Tonbofawrites |NDPR |NDPRsanctions
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 more information click here #CAC #Sharecapital #Cama #Shares #TONBOFA
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 article NIGERIAN SEC REGULATES DIGITAL ASSETS – TONBOFA Law Practice. In furtherance of this mandate SEC had in April 2022 released its Proposed Rules on the
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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 more
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 is used. Authorities through laws and regulations are taking bold steps to protect data of citizens and impose sanctions for data breach. Wondering how to
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 this article. Read more
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 constitution does not allow the Federal Government to make tax laws outside the taxation of incomes, profits, and capital gains. Read More
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 plant, which is connected to the Zimbabwean national grid, has a capacity of 5 MWp.A solar photovoltaic power plant goes into commercial operation in
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 the Nigerian Petroleum Industry and development of Host Communities. For more information on key provisions of the Act click here to learn more
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 stakeholders, particularly banks and other financial institutions to guide compliance and provide investors with information for decision making. You can view using this link https://fintechng.org/fintech-regulation/
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 things to note before undergoing a merger. Click for more
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