Reserves for unexpired risks will now be determined on a time-apportionment basis. This means that tax-deduction will only be available for reserves relating to the relevant year.

The overall objective of the Compendium is to promote new and incremental investments in Nigeria.

Sometime in 2013, the Nigerian Postal Agency entered into an agreement with an agent to collect from banks, the sum of N50 as stamp duty on all receipts...

TIN refers to Taxpayer Identification Number whiles BVN refers to Bank Verification Number. For anyone seeking to start their business in Nigeria, TIN and BVN are two important things you must obtain.

The Lagos State Internal Revenue Service (LIRS) has issued a public notice (the Notice) on its intention to integrate the LASG-EBS Taxpayer Identification Digit (PID)

On 3 May 2023, the Nigerian government approved a National Blockchain Policy for Nigeria ("Policy"). As the leading digital economy in Africa, Nigeria is the first in the continent to adopt...

The 2019 Finance Act recently given by the Mr President has undoubtedly been a heated topic of debate among Business and Legal commentators.

On 19 June 2019, the Tax Appeal Tribunal (TAT or Tribunal) held that mortgage institutions are not liable to pay Value Added Tax (VAT) on services rendered within the scope of their business.

Can a bank restrict a customer's account without a court order? According to the Court of Appeal, the answer is yes.

His Excellency, President Muhammadu Buhari, GCFR, has presented the 2023 Federal Government Budget Proposals at the joint session of the National Assembly in Abuja.

When the Central Bank of Nigeria (CBN) released its June 13, 2025 circular—"Temporary Suspension of Dividend Payments...

The directive of the CBN is predicated on the high credit and liquidity risks posed by these types of investments to the affected OFIs and the entire OFI sub-sector.

The annual enactment of the Finance Acts clearly shows the Federal Government's commitment to review the extant tax laws and make progressive changes to Nigeria's fiscal frameworks to align them with economic realities and global best practices...

Following the redesigning of the currency (Naira i.e. 200, 500 & 1000) of Nigeria, the Central Bank of Nigeria (CBN) issued a memo dated 6th December 2022 and referenced BSD/DIR/PUB/LAB/015/069 to all Deposit Money Banks (DMBs) and other financial institutions in furtherance to its cashless policy.

Nigeria's financial system is skewed towards short-term financing, making it difficult to obtain long-term funds for project and infrastructural development. Infrastructure includes...

The evolving landscape of the Nigerian foreign exchange market has prompted the Central Bank of Nigeria ("CBN") to take decisive steps to bolster its efficiency.

Nigeria's financial sector in 2025 witnessed transformative developments characterised by strategic policy reforms, enhanced regulatory frameworks, and significant infrastructure investments aimed...

In a bid to align the Nigerian financial market with global standards and strengthen the efficiency of its financial market infrastructure, the Central Bank of Nigeria (CBN), in collaboration...