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Nigeria has enacted a new Public Finance Management Act (PFMA) in 2024. This legislation is a comprehensive framework designed to regulate the management of public funds, revenues, expenditures, assets, and liabilities at the federal level.

In this edition, we discuss important updates issued by key regulators in the financial service sector. This month, the Central Bank of Nigeria (the "CBN") issued relevant guidelines and market updates.

There are several ways in which a business can protect its trade mark in Nigeria. One way is enforcing the statutory obligation in the Companies and Allied Matters Act (CAMA).

The Tax Appeal Tribunal ("TAT" or "the Tribunal") sitting in Lagos, on 19 October 2023, ruled that rental income derived from real estate properties is not subject to Value Added Tax (VAT).

In this article, we have examined the companies' income tax obligations of educational institutions prior to the FA21 amendment, the implications of the FA21 amendment and the impact of the policy changes introduced.

In a Public Notice recently issued pursuant to section 2(4) of the Capital Gains Tax Act[1], ("CGTA"), the Federal Inland Revenue Service ("FIRS") directed all persons, who dispose of chargeable assets to...

His Excellency, President Muhammadu Buhari, GCFR signed Finance Act, 2021 ("the Act") into law on 31 December 2021, following its passage by the National Assembly.

The National Assembly passed the Finance Bill 2022 ("the Finance Bill") on 28 December 2022. The Finance Bill introduces certain amendments to existing tax laws including the Companies...

Banwo & Ighodalo is proud to yet again, be the sole Nigerian contributor to the Chambers & Partners FinTech Global Practice Guide (the "FinTech 2021 Guide").

On October 11, 2021, the Central Bank of Nigeria ("CBN") took a fundamental step towards facilitating the settlement and payment of cross-border transactions within the African continent...

There has been a lot of confusion in the fintech and payments platform space, following the Federal Competition and Consumer Protection Commission's (FCCPC) release of its statement...

Running a business whether a company or Small and Medium Enterprises (SME's) can be financially demanding. Where this is the case, business owners seek various options to fund the business.

The recent introduction by the extant Banks and other Financial Institutions Act 2020 of Bail-in, as a tool for resolving bank insolvency is a critical discussion point for the comity of international lenders, lending to Nigerian banks and other financial institutions.

In January 2021, the Securities Exchange Commission governed by the Investment and Securities Act, 2007 (as amended) released the "Crowdfunding Rules" or the "Rules" for the regulation of unregulated crowdfunding activities in Nigeria.

Nigeria's Minister of Finance, Budget and National Planning has announced fiscal stimulus and other interventions in response to Covid-19 pandemic and the oil price fiscal shock.

On Thursday 19th of October, 2022, President Muhammadu Buhari signed the Nigeria Startup Bill into law, thus bringing Nigeria in the list of African countries with Startup laws.

It is no longer news that several schemes in the name of finance houses have sprung up in the last couple of years with large and very juicy ROIs to unsuspecting members of the public.