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In less than seventy days, all Reporting Financial Institutions will be required to file their first set of Information Returns in compliance with Income Tax Regulations.

This was pursuant to her powers under Section 120 of the Customs and Excise Management Act Cap. C45 Laws of the Federation of Nigeria, 2004.

Repatriation of capital and profits is an important area of consideration for foreign investors willing to invest in the Nigerian economy.

While foreign investors often seek opportunities to invest in emerging markets, one major concern is whether there are any foreign exchange controls and the impact that such rules

This month, we examine pertinent guidelines issued by the Central Bank of Nigeria (the "CBN") to players in the financial services sector. We have highlighted these key updates and their impact on the relevant stakeholders.

Over the past three years, Nigeria has witnessed the enactment of annual Finance Acts, along with the National budget. To date, the Finance Acts (2019, 2020 and 2021) have introduced landmark amendments...

The Central Bank of Nigeria has been working towards creating an open banking system in the country.

After 16 months of intransigence, Central Bank of Nigeria (CBN) Governor Godwin Emefiele announced guidelines for the new policy at a press conference in Abuja...

The Central Bank of Nigeria ("CBN") recently reintroduced bank charges on select cash deposits and withdrawals in the country.

In line with the tradition of the current administration, the Finance Bill 2021 (the "Bill") was recently presented before the legislature for passage into law. Similar to its predecessors...

When it comes to fund investment, a portfolio manager plays an extremely significant role. A portfolio manager is a person or organization responsible for investing fund assets, putting the fund's investment objectives into practice, ...

A leading global technology company, sought to expand its operations into Sub-Saharan Africa, starting with Nigeria. The client saw immense opportunities in Nigeria's growing demand for digital financial services but recognised the challenges of entering a high-risk frontier market.

Nigeria's former central bank governor Lamido Sanusi claimed on 2 December that the government currently owes 50% of its domestic debt to the central bank, above the limit set by Nigerian law.

On 24 June 2019, the Nigerian President signed the Nigeria Police Trust Fund (Establishment) Bill ("Police Trust Fund Act" or "the Act") into law.

Nigeria's Cabotage Vessel Financing Fund (CVFF) is finally disbursing after 23 years, but eligibility alone does not guarantee approval. What separates successful applications from failed ones is whether the underlying business is genuinely bankable, with proper ownership structures, credible feasibility reports, and adequate security packages in place before approaching a Primary Lending Institution.

A Stamp Duties Amendment Bill has been introduced to the House of Representatives. The Bill seeks to expand the scope of the extant Stamp Duties Act CAP. S8 L.F.N. 2004 by making receipts...

Over the last decade, technology has continued to disrupt the financial sector while regulators have struggled to keep up. The capital market sub-sector has not been spared as fintech companies...

There is presently no single legislation regulating Fintech in Nigeria.