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…
AUTHORIZED SHARE CAPITAL TO MINIMUM ISSUED SHARE CAPITAL, WHAT YOU NEED TO KNOW
Nigerian companies with unissued shares must issue them or reduce capital before 31 December 2022. Read more
Are You Data Protection Complaint?
Are you data protection compliant? See below our post on one of the may benefits of data protection compliance. Read more
The Banks And Other Financial Institutions Act 2020
Are you a Nigerian payment system provider or are you investing in one? Your business may now be categorized as an Other Financial Institution to be regulated by the Central…
EMPLOYEES OR INDEPENDENT CONTRACTORS
Is your business model based on some of your team members being independent contractors/contract staff and not employees? Then you may need to reassess your risk to those team members…
NIGERIAN PRIVACY REGULATOR FINES FINTECH FOR DATA PRIVACY BREACH
Under Nigerian Privacy laws, a personal data breach means a breach of security leading to the accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to, personal data.…
ARE YOU A SUSTAINABLE INVESTMENT OR NOT?
The EU has passed regulations mandating disclosure as regards sustainable investments to protect investors from financial products and companies that claim to be sustainable but are not. These EU regulations…
The CBN Regulatory Framework For Open Banking In Nigeria
THE CBN REGULATORY FRAMEWORK FOR OPEN BANKING IN NIGERIA The Central Bank of Nigeria “CBN” on 17 February 2021 issued the Regulatory Framework for Open Banking in Nigeria (‘the Framework’)…
CHANGES OCCASIONED BY THE FINANCE ACT 2020
CHANGES OCCASIONED BY THE FINANCE ACT 2020 The President Buhari on 31st December 2020 signed into law the Finance Act 2020. The Act amends among others the Capital Gains Tax…
SEC PRESS RELEASE ON CRYPTOCURRENCIES
The Securities and Exchange Commission “SEC” on 12 February 2021 issued a press release “the Press Release” to address comments on a perceived policy conflict between the SEC Statement on…
GAS SALE AND PURCHASE AGREEMENT
An Introduction A Gas Sale and Purchase Agreement (GSPA) is the key agreement detailing the sale and purchase of a quantity of natural gas. Natural Gas is an invisible product…