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With the growing demand for faster and more convenient financial services, there are more people looking to solve this problem by setting up a digital bank. We have had startups...

The Finance Act 2021(the "FA 2021") introduced changes that could have significant implications for the Nigerian capital markets and real estate sectors. In this publication, we have addressed...

On July 5, 2022, the Central Bank of Nigeria ("CBN") issued an exposure draft of its Digital Financial Services Awareness Guidelines ("Draft Guidelines"). The Draft Guidelines...

The Central Bank of Nigeria (CBN) on January 31, 2024, issued a circular for the harmonization of reporting requirements on foreign currency exposures of banks...

The Honourable Minister of Finance, Budget and National Planning recently issued the Companies Income Tax (Significant Economic Presence) Order, 2020 ("the Order"). The Order, which is effective 3rd February, 2020, defines the ...

The Bill was initially introduced to the Senate on 8 March 2022 for first reading.

As Nigeria transitions to an open banking regime, we anticipate a wave of fintech innovation driven by secure and regulated access to customer data.

Open banking is a term that refers to the practice of allowing third-party financial service providers to access customer data and transaction history held by banks and other financial institutions.

The Central Bank of Nigeria (CBN) in February 2024 shared the exposure draft for the revised regulatory and supervisory guidelines for Mortgage Refinance Companies (MRCs) in Nigeria.

In 2021, the Securities and Exchange Commission (SEC) partnered with the Nigeria Employers' Consultative Association (NECA) to strengthen the Nigerian Capital Market. This collaboration aims to encourage businesses.

On the 3rd day of June, 2024, The Central Bank of Nigeria (CBN) revoked Heritage Bank's license, raising significant concerns among depositors, investors, and other stakeholders.

The Startup Act aims to create an environment for startups to thrive whilst ensuring Nigeria leads the continent with respect to digital technology.

The Central Bank of Nigeria has issued new guidance establishing procedures for Bureau De Change operators to purchase foreign exchange through authorized dealer banks in the Nigerian Foreign Exchange Market. What obligations must BDC operators and dealer banks fulfill to ensure compliance, and what penalties await those who fail to meet these regulatory requirements?

On Tuesday, January 28, 2025, the Governor of the Central Bank of Nigeria ("CBN"), Mr. Olayemi Cardoso, formally launched the Nigerian Foreign Exchange Code ("FX Code"), at an event which was held at the CBN Head Office Auditorium, Abuja.

An interesting development in recent United States ("US") financial reform legislation is a disclosure obligation contained in a miscellaneous provision of the proposed Dodd-Frank Wall Street Reform and Consumer Protection Act approved by the US House of Representatives on June 30, 2010 and by the Senate on July 15, 2010. According to section 1504 of the Bill, titled "Disclosure of Payments by Resource Extraction Issuers",

The Students Loan (Access to Higher Education) (Repeal and Re-enactment) Act of 2024 in Nigeria is a significant piece of legislation aimed at expanding access to higher education.

On June 14, 2023, the Central Bank of Nigeria ("CBN") issued a press release ("Press Release") to authorized dealers and the general public, concerning changes to be implemented in the operation..