DATA PROTECTION AND THE IMPLICATION OF DATA BREACH

By |2022-01-28T12:39:28+00:00January 28th, 2022|Publications|

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

ATTORNEY GENERAL OF RIVERS STATE V. FEDERAL INLAND REVENUE SERVICE & A.G FEDERATION: THE COURT’S DECISION

By |2021-12-09T10:49:26+00:00December 9th, 2021|Newsletter, Publications|

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

Africa Energy Update

By |2021-10-15T14:59:54+00:00October 15th, 2021|Energy Updates, Publications|

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 NIGERIAN PETROLEUM INDUSTRY ACT 2021

By |2021-09-30T14:46:51+00:00September 30th, 2021|Energy Updates, Publications|

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

COMPENDIUM ON BANKING AND PAYMENT SYSTEM FRAMEWORKS,CIRCULARS AND GUIDELINES IN NIGERIA

By |2021-09-30T12:50:02+00:00September 30th, 2021|Publications|

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/

FEDERAL HIGH COURT PRACTICE DIRECTION ON FEDERAL INLAND REVENUE SERVICES (FIRS) 2021

By |2021-07-07T15:17:50+00:00July 7th, 2021|Publications|

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

By |2021-05-27T15:56:46+00:00May 27th, 2021|Publications|

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 31st July 2021. Click on this link for more on the provision of the GLIP and how to comply. Read more

SUMMARY OF GUIDELINE ON THE TAX TREATMENT OF NON-GOVERNMENTAL ORGANISATIONS

By |2021-05-18T15:38:03+00:00May 18th, 2021|Publications|

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

By |2021-05-05T13:59:20+00:00May 5th, 2021|Publications|

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 have significant economic presence in Nigeria. Click on the link below to see what companies are classified as having significant economic presence for the purpose

The Banks And Other Financial Institutions Act 2020 ​

By |2021-03-24T14:52:12+00:00March 24th, 2021|Publications|

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 Bank of Nigeria further to the BOFIA 2020. Kindly click for more

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