Staying abreast of regulatory changes is crucial for businesses, investors, and stakeholders alike. These updates can significantly impact operations, compliance, and overall business strategy.
Nigeria, a dynamic and rapidly evolving economy, has witnessed a flurry of legislative and regulatory activities across various sectors in 2024.
Here are a Few key Acts and Regulations introduced and enacted this year:
Acts
- Education - The Student Loan (Access to Higher Education) (Repeal and Re-enactment) ACT 2024
- Data Protection - The Cybercrime, (Prohibition, Prevention, Etc) (Amendment) ACT 2024
- Power - The Electricity Amendment ACT 2024
- Finance - The Public Finance Management Act, 2024
Regulations
- Data Protection - Guidance Notice on The Registration of Data Controllers And Processors of Major Importance
- Tax - Deduction of Tax at Source (Withholding) Regulations 2024
- Foreign Exchange - Regulatory and Supervisory Guidelines for 2024 Bureau De Change Operations in Nigeria
- Oil & Gas – Oil and Gas (Tax Incentives, Exemption, Remission. Etc.) Order 20241 Order 2024
- Finance - CBN Recapitalization Policy 2024
- Oil & Gas – the Reduction of Petroleum Sector Contracting Costs and Timelines ("the Directive")
- Oil & Gas – The Presidential Directive on Local Content Compliance Requirement, 2024
- Real Estate – the Revised Regulatory and Supervisory Guidelines for the Operations of Mortgage Refinance Companies (MRCs) in Nigeria
- Tax - The Federal Inland Revenue Service (Firs) Circular on Tax Treatment of Foreign Exchange Transaction
Originally published on 9 September 2024
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
