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The FIRS circular on the taxation of Real Estate Investment Companies (REICs) is further to the recent amendments made by the Finance Act (FA), 2019 to the Companies Income Tax Act (CITA).

From the brass rods of Belgian Congo to the domesticated reindeer of Northern Siberia, the relationship between loans and interest rates is as old as time.

The Circular reverses the existing incentives which exempt Value Added Tax (VAT) on all commissions applicable to capital market transactions.

Nigeria's Central Bank (the "CBN") aims to increase the country's foreign reserves by $200 billion in FX earnings from non-oil proceeds over the next (5) five years under a new export proceeds repatriation scheme.

Nigeria's recent removal from the Financial Action Task Force (FATF) Grey List marks a significant milestone in the country's efforts to strengthen its anti-money laundering (AML)...

The Lagos State Ministry of Physical Planning and Urban Development has issued a formal public notice identifying more than 170 real estate developments in Ibeju-Lekki, Epe, Eti-Osa, and other areas...

The National Assembly of the Federal Republic of Nigeria recently passed the National Youth Service Corps (NYSC) Trust Fund (Establishment) Bill, 2021 ("the Bill")...

The Federal Inland Revenue Services (FIRS) has issued a circular on the tax implications of regulated securities lending (RSL) transactions in Nigeria

This is pursuant to the amendments introduced by Finance Act, 2020 to the PIT Act Cap.P8 LFN 2004

In a circular dated 6th May 2024, the Central Bank of Nigeria (CBN) released implementation guidance on the collection and remittance of the National Cybersecurity Levy ("the levy").

Financial Technology (FinTech), the technological innovation that continues to disrupt the financial services industry is on an upward trajectory and shows no signs of letting up.

On 14th January 2021, the Central Bank of Nigeria (the "CBN") released the long-awaited final framework for regulatory sandbox operations in Nigeria (the "Framework").

A typical family may experience financial strains due to the prevailing unfavourable economic indices – high inflation, unemployment, exchange rate and other factors.

To mitigate the cyber security and data privacy risks associated with open banking, the exchange of data through API's services have been divided into 4 main service categories based on the...

Recently, the Federal Inland Revenue Service ("FIRS") issued a Public Notice titled "Payment of Outstanding Foreign Currency Tax Liabilities in Naira" (the "Notice")...

On 24th June, 2020, the Federal Inland Revenue Service ("FIRS" or "the Service") issued a Public Notice stating that certain items which were included as exempt from Value Added Tax ("VAT")...

A Switching and Processing License is one required by companies that engage in processing payments and routing of payment transactions between different financial institution...